Mediolanum International Funds Ltd Makes New Investment in Seagate Technology Holdings PLC $STX

Mediolanum International Funds Ltd acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,354 shares of the data storage provider’s stock, valued at approximately $7,377,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $553,125,000 after purchasing an additional 1,883,769 shares during the period. Norges Bank bought a new position in Seagate Technology during the 4th quarter worth $498,363,000. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after buying an additional 1,327,197 shares during the period. Deutsche Bank AG lifted its holdings in shares of 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 worth $440,614,000 after buying an additional 807,962 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Seagate Technology by 298.7% in the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after acquiring an additional 747,102 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on STX. TD Cowen upped their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. China Renaissance lifted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Evercore increased their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Argus raised their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $898.52.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. 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 a total of 151,069 shares of company stock worth $126,191,753 in the last ninety days. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Up 1.9%

Shares of STX opened at $802.45 on Tuesday. The firm has a 50 day simple moving average of $886.38 and a two-hundred day simple moving average of $595.30. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The company has a market cap of $179.93 billion, a P/E ratio of 76.13 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating 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 the consensus estimate of $2.96 billion. During the same quarter last year, the business posted $1.90 EPS. 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. Research analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s payout ratio is currently 28.08%.

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.