Seagate Technology Holdings PLC $STX Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 19.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,151 shares of the data storage provider’s stock after selling 785 shares during the period. Westpac Banking Corp’s holdings in Seagate Technology were worth $1,234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Seagate Technology during the first quarter valued at approximately $39,000. Concord Wealth Partners acquired a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Finally, McMillan Office Inc. purchased a new position in shares of Seagate Technology in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STX shares. Wedbush lifted their price target on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. China Renaissance raised their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Morgan Stanley lifted their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. Finally, Melius Research began coverage on shares of Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $908.10 on Thursday. 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 $203.62 billion, a price-to-earnings ratio of 86.16 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The business’s 50 day moving average price is $889.85 and its 200 day moving average price is $604.10.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is being viewed as undervalued on the back of fresh AI demand news, with one report suggesting the stock could be 34% below fair value as investors reassess its role in the AI infrastructure buildout.
• Positive Sentiment: Analyst coverage is turning supportive, with Zacks noting that Seagate has the ingredients for a possible earnings beat and including it among favored technology names ahead of results.
• Positive Sentiment: A comparison of SanDisk and Seagate’s revenue trends kept attention on memory and storage stocks, reinforcing the idea that AI-driven demand for NAND, SSDs, and related storage products could support Seagate’s growth story.
• Neutral Sentiment: Broader market commentary also pointed to chip stocks leading a rebound and volatility in the AI trade, which may be helping sentiment across the group without adding company-specific news.

Insider Activity

In related news, EVP John Christopher Morris sold 1,364 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the sale, the executive vice president owned 12,088 shares of the company’s stock, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the sale, the chief executive officer owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company’s stock.

Seagate Technology Company 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.