Balefire LLC Purchases New Position in Seagate Technology Holdings PLC $STX

Balefire LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 718 shares of the data storage provider’s stock, valued at approximately $281,000.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after acquiring an additional 1,883,769 shares during the last quarter. Norges Bank acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP grew its position in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Deutsche Bank AG increased its holdings in Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Finally, National Pension Service increased its holdings in Seagate Technology by 298.7% during the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after purchasing an additional 747,102 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Up 11.1%

NASDAQ:STX opened at $891.83 on Wednesday. The stock’s fifty day simple moving average is $888.04 and its 200-day simple moving average is $599.64. The firm has a market capitalization of $199.98 billion, a P/E ratio of 84.61 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. Seagate Technology Holdings PLC has a 12-month low of $138.30 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. 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. Equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Activity

In related news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the transaction, the chief financial officer owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. This represents a 18.73% 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. Over the last 90 days, insiders have sold 151,069 shares of company stock valued at $126,191,753. Insiders own 0.79% of the company’s stock.

Seagate Technology News Summary

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

• Positive Sentiment: Analysts say Seagate has the right mix of factors for a likely earnings beat in its next report, with expectations for earnings growth ahead of results. Seagate (STX) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Seagate was included in a Zacks analyst roundup alongside names tied to strong results, AI demand, and improving growth outlooks, reinforcing bullish sentiment. The Zacks Analyst Blog Highlights Johnson & Johnson, Lam Research, Seagate, KVH Industries and Dawson Geophysical
• Positive Sentiment: Broker commentary and market coverage continue to cite Seagate as a beneficiary of AI infrastructure and memory-related demand trends, which has supported the stock’s recent strength. Banking giant names 7 stocks to buy after memory equities sell-off
• Neutral Sentiment: Jim Cramer suggested trimming Seagate after its strong comeback ahead of July 28 earnings, which may reflect caution about short-term gains despite the constructive longer-term backdrop. Jim Cramer suggests trimming Seagate position after strong comeback ahead of July 28 earnings

Analysts Set New Price Targets

A number of research firms have commented on STX. Cantor Fitzgerald boosted their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their target price on Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. BNP Paribas Exane raised their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group lifted their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wedbush upped their price target 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. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.