Icon Advisers Inc. Co. Has $11.35 Million Stock Holdings in Seagate Technology Holdings PLC $STX

Icon Advisers Inc. Co. cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 33.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,963 shares of the data storage provider’s stock after selling 14,881 shares during the quarter. Seagate Technology accounts for 2.6% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 3rd largest holding. Icon Advisers Inc. Co.’s holdings in Seagate Technology were worth $11,347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology during the fourth quarter worth $23,882,000. New York State Teachers Retirement System grew its holdings in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. raised its holdings in shares of Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in shares of Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock valued at $5,872,000 after purchasing an additional 8,358 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total value of $8,636,856.06. Following the transaction, the chief executive officer owned 311,517 shares in the company, valued at approximately $287,972,545.14. This trade represents a 2.91% 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 quarter, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Trading Up 1.8%

STX opened at $908.10 on Thursday. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The firm has a market capitalization of $203.62 billion, a PE ratio of 86.16 and a beta of 2.04. 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 moving average is $889.85 and its 200 day moving average is $604.10.

Seagate Technology (NASDAQ:STX) last released its quarterly 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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors 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 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is being viewed as undervalued on the back of fresh AI demand news, with one report suggesting the stock could be 34% below fair value as investors reassess its role in the AI infrastructure buildout.
• Positive Sentiment: Analyst coverage is turning supportive, with Zacks noting that Seagate has the ingredients for a possible earnings beat and including it among favored technology names ahead of results.
• Positive Sentiment: A comparison of SanDisk and Seagate’s revenue trends kept attention on memory and storage stocks, reinforcing the idea that AI-driven demand for NAND, SSDs, and related storage products could support Seagate’s growth story.
• Neutral Sentiment: Broader market commentary also pointed to chip stocks leading a rebound and volatility in the AI trade, which may be helping sentiment across the group without adding company-specific news.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STX shares. Morgan Stanley increased their price objective on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Argus upped their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Melius Research assumed coverage on Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target on the stock. BNP Paribas Exane raised their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Loop Capital boosted their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $898.52.

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.