PNC Financial Services Group Inc. Acquires 3,091 Shares of Seagate Technology Holdings PLC $STX

PNC Financial Services Group Inc. lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,270 shares of the data storage provider’s stock after buying an additional 3,091 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $16,873,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. National Pension Service raised its holdings in shares of Seagate Technology by 28.0% in the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after buying an additional 54,722 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of Seagate Technology in the fourth quarter valued at about $23,882,000. New York State Teachers Retirement System boosted its holdings in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after acquiring an additional 6,028 shares during the last quarter. Finally, Keystone Investors PTE Ltd. boosted its holdings in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after acquiring an additional 18,000 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 148,283 shares of company stock valued at $88,528,318. Insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $812.73 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 1 year low of $108.28 and a 1 year high of $841.31. The stock has a market cap of $182.24 billion, a P/E ratio of 77.11 and a beta of 1.98. The stock’s 50-day moving average price is $565.92 and its two-hundred day moving average price is $411.46.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $1.90 earnings per share. The company’s revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.

Analyst Ratings Changes

Several equities analysts recently issued reports on STX shares. TD Cowen raised their price target on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Susquehanna raised their price target on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, Morgan Stanley raised their price target on Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $733.71.

Key Stories Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate’s latest margin and revenue trends show strong execution, with record gross margins, tight supply, and pricing support pointing to continued earnings upside. Can Seagate Sustain Its Gross Margin Expansion Momentum?
• Positive Sentiment: AI infrastructure spending remains a tailwind for memory and storage stocks, including STX, after Nvidia’s strong results. Seagate Stock, Western Digital Bounce Back After Nvidia Results
• Positive Sentiment: Seagate’s exchange of $185.9 million in notes could support balance-sheet flexibility and reduce financial risk. Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: CEO William Mosley sold 30,000 shares under a pre-arranged 10b5-1 plan; routine insider selling does not necessarily signal a fundamental change, but it can still weigh on sentiment. SEC filing
• Neutral Sentiment: Some analysts and commentators are questioning valuation, with Jim Cramer calling Seagate “too pricey,” which could limit further upside unless earnings keep accelerating. Jim Cramer on Seagate: “Too Pricey”
• Negative Sentiment: There is also growing caution that the AI memory/storage boom could slow later in the cycle, raising concerns about future supply, pricing, and demand. Advanced Energy, Vishay Precision, and Bel Fuse Shares Plummet, What You Need To Know

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.