The Manufacturers Life Insurance Company Sells 14,463 Shares of Seagate Technology Holdings PLC $STX

The Manufacturers Life Insurance Company reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 10.7% in the first quarter, HoldingsChannel reports. The firm owned 120,349 shares of the data storage provider’s stock after selling 14,463 shares during the period. The Manufacturers Life Insurance Company’s holdings in Seagate Technology were worth $47,148,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC boosted its holdings in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Seagate Technology during the second quarter valued at approximately $262,000. Cerity Partners LLC lifted its position in Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. boosted its stake in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after acquiring an additional 3,358 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Seagate Technology by 5.0% in the second quarter. Glenview Trust co now owns 5,221 shares of the data storage provider’s stock valued at $754,000 after acquiring an additional 250 shares in the last quarter. 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: Seagate reported fiscal fourth-quarter adjusted EPS of $5.71, ahead of the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, exceeding expectations. Management guided to fiscal first-quarter 2027 EPS of $7.10–$7.50, well above the prior outlook and supporting expectations for continued momentum. STX Q4 Earnings Top on 48% Sales Jump, AI-led Storage Demand Continues
• Positive Sentiment: Investors and analysts highlighted durable cloud and AI-storage demand, persistent data reuse, nearline capacity allocated through 2028 and Seagate’s Mozaic and HAMR technologies, with drives reaching up to 44TB. These trends improve demand visibility, operating leverage and potential cash flow. How Seagate’s HAMR Shift Is Driving the Next AI Storage Growth Wave
• Positive Sentiment: Wall Street firms raised their targets following the earnings report. Barclays lifted its target to $1,250 and JPMorgan to $1,240, while Citi, Cantor Fitzgerald, Rosenblatt, Wells Fargo, TD Cowen and Wedbush also maintained bullish ratings or increased targets. Zacks Research upgraded STX to “strong buy.”
• Positive Sentiment: The favorable read-through extended across AI and memory stocks, with Seagate’s results helping reinforce the view that data-center infrastructure spending remains strong despite recent concerns about the sustainability of the AI rally.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable in October. The dividend provides shareholder support but is modest relative to the company’s valuation and is unlikely to be the main trading catalyst.
• Negative Sentiment: After its substantial 2026 rally, STX trades at a premium valuation, leaving less room for execution errors. Any slowdown in AI-storage orders, pricing, HAMR adoption or supply fulfillment could trigger profit-taking. Is STX Stock Still Attractive After Its Massive 2026 Price Rally?

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STX. JPMorgan Chase & Co. upped their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday. Wells Fargo & Company boosted their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday. Rosenblatt Securities increased their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Trading Up 11.4%

NASDAQ:STX opened at $851.68 on Friday. The company has a market capitalization of $190.97 billion, a P/E ratio of 61.36 and a beta of 2.04. The company has a current ratio of 1.67, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 12 month low of $144.75 and a 12 month high of $1,145.00. The firm has a fifty day simple moving average of $896.04 and a 200-day simple moving average of $626.22.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 26.84 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is currently 21.33%.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 8,003 shares of the company’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 value of $6,540,691.84. Following the sale, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This trade represents 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. Insiders sold a total of 151,069 shares of company stock valued at $126,191,753 over the last three months. Company insiders own 0.79% of the company’s stock.

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.