Weiss Asset Management LP Makes New $897,000 Investment in Seagate Technology Holdings PLC $STX

Weiss Asset Management LP acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the first quarter, Holdings Channel.com reports. The fund acquired 2,289 shares of the data storage provider’s stock, valued at approximately $897,000.

Other hedge funds have also recently made changes to their positions in the company. Salomon & Ludwin LLC increased its position in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Avion Wealth boosted its stake in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Concord Wealth Partners acquired a new position in Seagate Technology during the 4th quarter valued at about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STX. Argus raised their target price on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Cantor Fitzgerald upped their price target on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Barclays increased their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Mizuho raised their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, BNP Paribas Exane lifted their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $816.99 on Tuesday. The company has a market capitalization of $183.19 billion, a PE ratio of 77.51 and a beta of 2.04. 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 stock’s 50 day moving average price is $894.67 and its 200-day moving average price is $615.89. Seagate Technology Holdings PLC has a twelve month low of $138.30 and a twelve month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology’s revenue was up 44.1% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was 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 $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale 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, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. The trade was a 68.44% 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. Insiders have sold 151,069 shares of company stock worth $126,191,753 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Strong AI-related demand remains the key bullish factor. Analysts are focusing on rising nearline hard-disk-drive demand from data centers, increasing exabyte shipments and continued momentum for Seagate’s Mozaic platform. Morgan Stanley analyst Erik Woodring reportedly remains highly constructive, saying the hard-drive market has strengthened. Can Increasing HDD Exabyte Shipments Bolster Seagate’s Q4 Earnings?
• Positive Sentiment: Prior operating performance provides support. Seagate’s latest reported quarter exceeded consensus expectations, with revenue rising 44.1% year over year, while management’s fourth-quarter earnings guidance of $4.80–$5.20 per share sets a relatively strong bar for the upcoming report.
• Neutral Sentiment: Options traders anticipate significant volatility. With earnings due Tuesday, market participants expect a large post-report move, making the results, forward guidance and commentary on AI infrastructure spending especially important for STX’s near-term direction. Here’s How Much Traders See Seagate Stock Moving After Earnings
• Negative Sentiment: Valuation and profit-taking are weighing on the stock. The pullback follows a sharp long-term advance, leaving investors concerned that strong expectations may already be reflected in the share price. Seagate is also trading amid weakness across AI, memory and hardware stocks.
• Negative Sentiment: Tariff uncertainty adds pressure. New U.S. tariffs affecting key semiconductor trading partners have contributed to sector-wide selling and raised concerns about costs, supply chains and international demand ahead of earnings. Seagate Technology Holdings Falls On Tariffs As Fair Value Stays In Focus

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.