Louisiana State Employees Retirement System Makes New $9.95 Million Investment in Seagate Technology Holdings PLC $STX

Louisiana State Employees Retirement System acquired a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,400 shares of the data storage provider’s stock, valued at approximately $9,951,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Parkway Wealth Management Group LLC grew its holdings in shares of Seagate Technology by 22.6% in the 1st quarter. Parkway Wealth Management Group LLC now owns 9,673 shares of the data storage provider’s stock worth $3,789,000 after purchasing an additional 1,781 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in Seagate Technology by 16.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 2,346 shares of the data storage provider’s stock valued at $919,000 after purchasing an additional 340 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Seagate Technology by 21.2% in the first quarter. Fiduciary Alliance LLC now owns 1,185 shares of the data storage provider’s stock valued at $464,000 after buying an additional 207 shares in the last quarter. Ritholtz Wealth Management boosted its position in Seagate Technology by 27.6% in the first quarter. Ritholtz Wealth Management now owns 27,197 shares of the data storage provider’s stock valued at $10,655,000 after buying an additional 5,876 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in Seagate Technology during the first quarter worth about $86,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 141,069 shares of company stock worth $107,161,712. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on STX shares. Evercore lifted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Sanford C. Bernstein lifted their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Cantor Fitzgerald increased their target price on 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 assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $831.79.

Seagate Technology Price Performance

STX opened at $1,025.36 on Friday. Seagate Technology Holdings PLC has a one year low of $138.00 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company’s 50 day simple moving average is $811.11 and its 200-day simple moving average is $526.55. The stock has a market capitalization of $229.92 billion, a P/E ratio of 97.28 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Seagate Technology’s 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. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Micron’s blowout results and strong AI-driven demand are lifting the entire memory/storage complex, including Seagate. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Analysts and market commentary are highlighting Seagate as an AI infrastructure winner with improving pricing power and durable earnings potential. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor coverage is also pointing to Apple’s warning about rising memory costs as evidence of a broader storage shortage, which could support pricing for Seagate and peers. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Short-interest data showed no meaningful short position change, so this does not appear to be a major near-term driver for the stock.

Seagate Technology 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.