Matrix Trust Co Purchases New Holdings in Seagate Technology Holdings PLC $STX

Matrix Trust Co acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 895 shares of the data storage provider’s stock, valued at approximately $825,000.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after acquiring an additional 2,326,538 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Seagate Technology by 3,872.1% during the first 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 period. Deutsche Bank AG raised 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 valued at $440,614,000 after purchasing an additional 807,962 shares during the period. Amanah Holdings Trust bought a new position in shares of Seagate Technology during the 4th quarter worth about $79,801,000. Finally, Swedbank AB grew its stake in shares of Seagate Technology by 67.6% in the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after buying an additional 285,949 shares during the period. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research reports. Wedbush upped their price target on Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Down 0.8%

Shares of NASDAQ:STX traded down $6.84 during mid-day trading on Wednesday, hitting $798.79. 2,933,105 shares of the company traded hands, compared to its average volume of 4,366,267. The stock has a 50-day moving average price of $857.23 and a two-hundred day moving average price of $785.54. Seagate Technology Holdings PLC has a 12-month low of $209.00 and a 12-month high of $1,145.00. The stock has a market cap of $181.64 billion, a P/E ratio of 57.41 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

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

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be 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 of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is presently 21.33%.

Insider Activity

In other Seagate Technology news, EVP Ban Teh sold 52,730 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 11,002 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $935.60, for a total value of $10,293,471.20. Following the completion of the transaction, the chief executive officer owned 362,108 shares in the company, valued at $338,788,244.80. The trade was a 2.95% 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. Over the last quarter, insiders sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is currently owned by company insiders.

Seagate Technology News Roundup

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

• Positive Sentiment: AI data-center construction is driving strong demand for high-capacity HDDs, which offer lower-cost storage for the massive datasets created by AI workloads. This supports Seagate’s nearline-drive business and its growth outlook. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Some analysts argue that the earlier selloff was excessive because Seagate reportedly has nearline-drive contracts extending into 2027, potentially providing visibility despite near-term competitive concerns. Morgan Stanley also reportedly maintained a Buy rating. Morgan Stanley Remains a Buy on Seagate Tech
• Neutral Sentiment: Seagate is reportedly competing with Toshiba to acquire TDK’s magnetic-heads business. The deal could strengthen Seagate’s supply chain and technology position, but a bidding contest could require several billion dollars and increase execution and financial risks. Seagate, Western Digital stocks are falling again
• Negative Sentiment: Toshiba’s plan to double HDD production has revived fears that additional supply will weaken pricing, reduce scarcity and erode Seagate’s elevated margins. The news also pressured Western Digital, signaling a broader sector repricing. Seagate Stock Is Falling: The Hot Memory Play Has a Big Toshiba Problem
• Negative Sentiment: Chief Executive William Mosley’s reported sale of approximately $17.4 million in STX shares shortly before the Toshiba announcement has added to investor unease, even though the transaction does not by itself indicate a change in business fundamentals. Seagate CEO Sold $17.4 Million Before Toshiba Drop

Seagate Technology Company Profile

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.