Seagate Technology Holdings PLC $STX Stock Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 50.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,693 shares of the data storage provider’s stock after purchasing an additional 908 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Seagate Technology were worth $2,484,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares in the last quarter. Wellington Management Group LLP boosted its stake in Seagate Technology by 2,655.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after purchasing an additional 2,326,538 shares in the last quarter. Deutsche Bank AG boosted its stake in Seagate Technology by 102.0% in the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Janus Henderson Group PLC grew its position in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after purchasing an additional 943,170 shares during the last quarter. Finally, Amundi grew its position in Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after purchasing an additional 235,359 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: AI workloads continue to generate substantial demand for cost-efficient, high-capacity storage, supporting the long-term outlook for Seagate’s enterprise HDD business. Analysts are also comparing Seagate favorably with Western Digital as investors assess which storage stock has more upside. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Seagate recently delivered stronger-than-expected results, with quarterly revenue rising sharply year over year and earnings exceeding analysts’ estimates. Its next-quarter guidance also points to continued profitability, although investors are now focused on whether supply changes could affect that trajectory.
• Positive Sentiment: The company paid a dividend to shareholders, reinforcing its income appeal and highlighting the potential for shareholder returns alongside its growth exposure. HP, Merck, and Seagate Just Paid Their Shareholders

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 price objective on shares of Seagate Technology in a research note on Wednesday, July 29th. 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 price target on the stock. China Renaissance raised their price target on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Morgan Stanley boosted their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Barclays upped their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Insider Activity at Seagate Technology

In other news, EVP John Morris sold 9,354 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president directly owned 22,693 shares of the company’s stock, valued at $19,922,411.63. This represents a 29.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 466,959 shares of company stock valued at $378,840,741 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $774.83 on Friday. The firm’s 50-day moving average price is $856.56 and its 200-day moving average price is $790.73. Seagate Technology Holdings PLC has a 52-week low of $209.00 and a 52-week high of $1,145.00. The company has a market cap of $176.19 billion, a PE ratio of 55.82 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were paid a dividend of $0.74 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s payout ratio is currently 21.33%.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.