SEB Asset Management AB Purchases New Position in Seagate Technology Holdings PLC $STX

SEB Asset Management AB purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 58,082 shares of the data storage provider’s stock, valued at approximately $22,754,000.

Other large investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in shares of Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC increased its position in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after purchasing an additional 19 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after purchasing an additional 25 shares during the last quarter. Finally, Trajan Wealth LLC raised its stake in Seagate Technology by 1.9% during the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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. This trade represents a 68.44% decrease in their position. The sale was disclosed in a legal filing 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, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. 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 ninety days, insiders sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Wells Fargo & Company upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $900.00 to $1,100.00 in a research report on Friday, July 10th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. TD Cowen lifted their price target on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wedbush boosted their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology News Summary

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

Seagate Technology Stock Performance

STX stock opened at $787.66 on Monday. Seagate Technology Holdings PLC has a twelve month low of $138.30 and a twelve month high of $1,145.00. The stock has a market capitalization of $176.62 billion, a price-to-earnings ratio of 74.73 and a beta of 2.04. 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 firm’s fifty day simple moving average is $887.01 and its two-hundred day simple moving average is $591.62.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

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.