Gallacher Capital Management LLC Purchases New Position in Seagate Technology Holdings PLC $STX

Gallacher Capital Management LLC acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,218 shares of the data storage provider’s stock, valued at approximately $477,000.

Several other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after purchasing an additional 1,883,769 shares in the last quarter. Norges Bank bought a new stake in shares of Seagate Technology in the 4th quarter valued at $498,363,000. Soroban Capital Partners LP increased its position in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Deutsche Bank AG raised its stake 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 worth $440,614,000 after buying an additional 807,962 shares during the period. Finally, National Pension Service raised its stake 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 worth $274,625,000 after buying an additional 747,102 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. China Renaissance raised their price target on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Citigroup lifted their price objective on Seagate Technology from $1,150.00 to $1,240.00 and gave the company a “buy” rating in a report on Monday, July 13th. Bank of America boosted their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, Argus increased their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $898.52.

More Seagate Technology News

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

Insider Buying and Selling

In other news, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the sale, the chief executive officer owned 339,591 shares in the company, valued at $255,131,322.39. This represents a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock worth $126,191,753 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Seagate Technology Trading Up 5.7%

Seagate Technology stock opened at $787.66 on Friday. The company has a market cap of $176.62 billion, a price-to-earnings ratio of 74.73 and a beta of 2.04. The firm has a 50-day moving average of $887.01 and a 200-day moving average of $589.45. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. Seagate Technology’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. On average, equities analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is 28.08%.

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.