Seagate Technology Holdings PLC $STX Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 545,689 shares of the data storage provider’s stock after selling 10,689 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Seagate Technology worth $503,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings 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 buying an additional 2,326,538 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Seagate Technology by 3,872.1% in 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 acquiring an additional 943,170 shares during the last quarter. Swedbank AB increased 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 acquiring an additional 285,949 shares during the last quarter. Amundi raised its position in shares of Seagate Technology by 32.2% in the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Seagate Technology by 119.7% in the 1st quarter. Hsbc Holdings PLC now owns 378,527 shares of the data storage provider’s stock valued at $147,753,000 after acquiring an additional 206,196 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This represents a 41.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This represents a 90.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 466,812 shares of company stock worth $378,583,042. Corporate insiders own 0.51% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Argus upped their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Cantor Fitzgerald lowered their target price on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Wedbush reiterated an “outperform” rating and issued a $1,000.00 target price on shares of Seagate Technology in a report on Wednesday. Finally, Barclays lifted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Twenty-two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $644.58 on Friday. The firm has a market cap of $146.57 billion, a price-to-earnings ratio of 33.85 and a beta of 2.06. The stock’s 50-day moving average is $799.09 and its 200-day moving average is $688.41. Seagate Technology Holdings PLC has a one year low of $228.61 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. Seagate Technology’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.61 earnings per share. Equities analysts predict that Seagate Technology Holdings PLC will post 37.44 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is presently 15.55%.

Seagate Technology Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.