Franklin Resources Inc. Lowers Stake in Seagate Technology Holdings PLC $STX

Franklin Resources Inc. lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 50.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,026,126 shares of the data storage provider’s stock after selling 4,041,090 shares during the period. Franklin Resources Inc.’s holdings in Seagate Technology were worth $1,108,755,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Seagate Technology by 21.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 106,872 shares of the data storage provider’s stock worth $29,431,000 after purchasing an additional 18,745 shares during the period. Manchester Capital Management LLC boosted its position in shares of Seagate Technology by 43.2% during the 4th quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $78,000 after purchasing an additional 86 shares during the period. ING Groep NV purchased a new position in shares of Seagate Technology during the 4th quarter worth approximately $3,999,000. Valtrion Capital Management LLC purchased a new position in shares of Seagate Technology during the 4th quarter worth approximately $250,000. Finally, Havemeyer Place LP purchased a new position in shares of Seagate Technology during the 4th quarter worth approximately $187,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Several recent articles and analyst notes highlighted Seagate as a beneficiary of surging AI storage demand, data-center buildout, and tighter industry supply, which has helped improve the investment case and lift price targets. Zacks Analyst Blog Highlights Micron, Sandisk, Seagate, Dell and Comfort Systems
• Positive Sentiment: Analysts are increasingly framing STX as an AI-storage winner, with one recent report saying fair value estimates were reset higher as investors price in stronger demand for higher-capacity drives and improved industry discipline. How The Seagate (STX) Investment Story Is Shifting With AI Storage Demand And New Targets
• Positive Sentiment: Seagate was also included in a “buy these growth stocks” theme around massive AI infrastructure spending, reinforcing investor optimism tied to the company’s storage exposure. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: Recent coverage also noted that Seagate’s quarterly results beat expectations and the company raised guidance, which continues to support the bullish narrative around earnings momentum. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
• Neutral Sentiment: A director sold 1,000 shares at $927.68, a transaction that is not huge in size but can still modestly weigh on sentiment because it comes after a strong run in the stock. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
• Neutral Sentiment: Broader memory-chip weakness in peers like Micron and SanDisk suggests some cooling in the sector after a sharp run-up, which could spill over into Seagate even though its fundamentals remain strong. Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $885.33, for a total value of $663,997.50. Following the completion of the sale, the director owned 4,101 shares in the company, valued at approximately $3,630,738.33. This represents a 15.46% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 155,187 shares of company stock worth $108,267,701. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Seagate Technology stock opened at $847.47 on Monday. The firm has a market cap of $190.03 billion, a PE ratio of 80.41 and a beta of 2.04. Seagate Technology Holdings PLC has a 52-week low of $124.63 and a 52-week high of $966.80. 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 company’s 50 day moving average is $661.50 and its two-hundred day moving average is $455.59.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. 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 28.08%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on STX shares. Wedbush increased their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Loop Capital increased their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Sanford C. Bernstein increased their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald increased their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $772.04.

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.