Mitchell & Pahl Private Wealth LLC Lowers Stock Holdings in Seagate Technology Holdings PLC $STX

Mitchell & Pahl Private Wealth LLC reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.6% during the 1st quarter, Holdings Channel reports. The firm owned 7,905 shares of the data storage provider’s stock after selling 1,350 shares during the quarter. Seagate Technology makes up about 1.3% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 19th largest holding. Mitchell & Pahl Private Wealth LLC’s holdings in Seagate Technology were worth $3,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Seagate Technology by 1,072.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank acquired a new position in Seagate Technology during the fourth quarter worth $498,363,000. Soroban Capital Partners LP raised its position in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Bank of America raised its price target on Seagate to $1,150 from $1,000 and kept a buy rating, signaling confidence in upside potential. Benzinga article
• Positive Sentiment: Zacks upgraded Seagate to a Strong Buy, citing improving earnings expectations and strengthening growth momentum. Zacks article
• Positive Sentiment: Zacks also highlighted Seagate as an “incredible growth stock,” pointing to solid growth attributes and strong momentum. Zacks article
• Neutral Sentiment: Several articles noted Seagate’s data-center business is growing quickly, supported by cloud demand, Mozaic adoption, and long-term supply agreements through fiscal 2027. Zacks article
• Negative Sentiment: Shares fell with the broader memory group as traders worried about a possible supply glut; the weakness was described as a sector-wide pullback rather than a company-specific issue. 247WallSt article
• Negative Sentiment: CEO William D. Mosley disclosed two stock sales totaling more than 30,000 shares, which can weigh on sentiment even though both were made under a pre-arranged 10b5-1 trading plan.
• Negative Sentiment: Zacks Research downgraded Seagate from Strong Buy to Hold, creating a small headwind for bullish investor sentiment. Zacks.com article

Seagate Technology Stock Down 10.4%

Shares of NASDAQ:STX opened at $820.16 on Friday. 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 business has a fifty day moving average of $848.51 and a two-hundred day moving average of $548.43. The stock has a market cap of $183.90 billion, a P/E ratio of 77.81 and a beta of 2.04. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 14.26 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on STX shares. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. BNP Paribas Exane raised their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Argus lifted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Evercore boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. increased their target price on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $880.52.

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the business’s 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 directly owned 11,954 shares in the company, valued at $8,826,474.98. The trade was a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock valued at $126,191,753 over the last three months. 0.79% of the stock is currently owned by company insiders.

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.