Seagate Technology Holdings PLC $STX Stake Decreased by USS Investment Management Ltd

USS Investment Management Ltd lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,253 shares of the data storage provider’s stock after selling 3,688 shares during the period. USS Investment Management Ltd’s holdings in Seagate Technology were worth $11,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in STX. Arrowstreet Capital Limited Partnership raised its holdings in shares of Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after buying an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank bought a new stake in shares of Seagate Technology during the 4th quarter worth $498,363,000. Soroban Capital Partners LP grew 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 purchasing an additional 1,327,197 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Seagate Technology by 102.0% during 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. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on STX. Mizuho lifted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Barclays lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. TD Cowen lifted their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, UBS Group boosted their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $831.79.

Seagate Technology Trading Up 9.4%

Seagate Technology stock opened at $1,018.80 on Tuesday. The company’s fifty day simple moving average is $721.33 and its 200-day simple moving average is $482.71. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 12 month low of $127.61 and a 12 month high of $1,032.52. The stock has a market cap of $228.45 billion, a P/E ratio of 96.66 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company posted $1.90 EPS. Seagate Technology’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 1,364 shares of Seagate Technology stock in a transaction on 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. The trade was a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. The trade was a 18.73% 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. Insiders have sold 165,653 shares of company stock worth $117,161,746 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Morgan Stanley raised its price target on Seagate Technology (STX) to $1,035 from $767 and reiterated an Overweight rating, citing improving HDD pricing and expectations that supply shortages could last through at least 2028. Benzinga reference
• Positive Sentiment: Several market reports highlighted Seagate as a beneficiary of stronger AI/data-center storage demand, with tech and memory stocks broadly gaining on optimism around the sector. Yahoo Finance reference
• Positive Sentiment: Seagate also received fresh support from “growth stock” and “AI memory/storage” articles that framed STX as an attractive way to play tightening supply and rising infrastructure spending. Zacks reference
• Neutral Sentiment: Seagate disclosed multiple insider sales on June 12, including CEO William D. Mosley and executives Gianluca Romano, Ban Seng Teh, and John Christopher Morris. The sales were sizable in dollar terms, but several were made under pre-arranged trading plans and do not necessarily signal a change in fundamentals.
• Neutral Sentiment: Seagate redeemed its 3.50% exchangeable senior notes due 2028, removing roughly $150.7 million of debt and improving balance-sheet flexibility. Yahoo Finance reference

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.