Cidel Asset Management Inc. Makes New Investment in Seagate Technology Holdings PLC $STX

Cidel Asset Management Inc. acquired a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the first quarter, Holdings Channel.com reports. The firm acquired 1,044 shares of the data storage provider’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC boosted its stake in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. Concord Wealth Partners acquired a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth lifted its holdings in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the period. Finally, Quarry LP acquired a new position in Seagate Technology in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 141,069 shares of company stock worth $107,161,712 in the last 90 days. 0.79% of the stock is owned by insiders.

Key Seagate Technology News

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

• Positive Sentiment: Micron’s blowout results and strong AI-driven demand are lifting the entire memory/storage complex, including Seagate. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Analysts and market commentary are highlighting Seagate as an AI infrastructure winner with improving pricing power and durable earnings potential. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor coverage is also pointing to Apple’s warning about rising memory costs as evidence of a broader storage shortage, which could support pricing for Seagate and peers. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Short-interest data showed no meaningful short position change, so this does not appear to be a major near-term driver for the stock.

Seagate Technology Stock Up 3.2%

Shares of STX opened at $1,025.36 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 12 month low of $138.00 and a 12 month high of $1,145.00. The stock’s 50 day moving average is $811.11 and its two-hundred day moving average is $526.55. The firm has a market cap of $229.92 billion, a P/E ratio of 97.28 and a beta of 2.04.

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

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Analysts Set New Price Targets

STX has been the topic of a number of analyst reports. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. China Renaissance boosted their target price on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Susquehanna increased their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Finally, Loop Capital raised their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $831.79.

Seagate Technology Profile

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.