California Public Employees Retirement System Increases Holdings in Seagate Technology Holdings PLC $STX

California Public Employees Retirement System raised its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 0.7% in the 1st quarter, HoldingsChannel reports. The fund owned 360,397 shares of the data storage provider’s stock after buying an additional 2,622 shares during the quarter. California Public Employees Retirement System’s holdings in Seagate Technology were worth $141,189,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC raised its position in shares of Seagate Technology by 124.4% during the 4th 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. boosted its holdings in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth increased its stake in Seagate Technology by 343.5% in the fourth 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. Finally, Concord Wealth Partners acquired a new stake in Seagate Technology during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction dated 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 owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a filing 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, CFO Gianluca Romano sold 903 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. This represents a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 151,069 shares of company stock valued at $126,191,753 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

STX stock opened at $787.66 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $176.62 billion, a P/E ratio of 74.73 and a beta of 2.04. The business has a 50 day simple moving average of $887.01 and a 200-day simple moving average of $589.45. 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 announced its 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. 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. The company’s quarterly 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, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s payout ratio is currently 28.08%.

Seagate Technology News Roundup

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. China Renaissance boosted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Mizuho lifted their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Bank of America raised their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $898.52.

About Seagate Technology

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.