iA Global Asset Management Inc. Acquires 20,677 Shares of Seagate Technology Holdings PLC $STX

iA Global Asset Management Inc. increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 40.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 71,918 shares of the data storage provider’s stock after buying an additional 20,677 shares during the quarter. iA Global Asset Management Inc.’s holdings in Seagate Technology were worth $28,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STX. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Seagate Technology in the 4th quarter valued at $23,882,000. New York State Teachers Retirement System grew its holdings in shares of Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. lifted its holdings in Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Seagate Technology by 64.5% during the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock valued at $5,872,000 after purchasing an additional 8,358 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STX shares. Argus boosted their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wedbush raised their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Loop Capital lifted their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. China Renaissance boosted their target price on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Finally, Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $874.52.

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the sale, the executive vice president owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 121,069 shares of company stock worth $98,747,112. Company insiders own 0.79% of the company’s stock.

Seagate Technology Stock Down 0.4%

Shares of NASDAQ:STX opened at $965.00 on Wednesday. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. The company’s 50-day moving average price is $835.80 and its two-hundred day moving average price is $540.40. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a market cap of $216.38 billion, a P/E ratio of 91.56 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS 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. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Seagate Technology to $1,300 from $1,000 and reiterated an overweight rating, signaling confidence that the company still has meaningful upside. Benzinga report on Cantor Fitzgerald target increase
• Positive Sentiment: Melius Research initiated coverage with a buy rating and a $1,600 price target, reflecting a very constructive view on Seagate’s earnings power and demand outlook. Benzinga report on Melius initiation
• Positive Sentiment: Several recent articles highlight Seagate as a top AI infrastructure and storage beneficiary, citing strong demand for high-capacity drives, HAMR product wins, and repeated earnings beats as key growth drivers. Zacks AI infrastructure article
• Neutral Sentiment: Some recent coverage remains positive but warns the stock has already rerated dramatically, with one Seeking Alpha piece downgrading the rating from Strong Buy to Buy because a lot of the upside may already be reflected in the current price. Seeking Alpha downgrade article
• Neutral Sentiment: Another article framed Seagate as “too hot to handle,” emphasizing that AI-driven growth is strong but cyclical risks remain, which may temper expectations after the stock’s huge run. Seeking Alpha cyclical risks article
• Negative Sentiment: One Zacks note compared Seagate with Micron and suggested Micron may offer better AI-storage upside, which could shift some investor preference away from STX. Zacks comparison article

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.