Abacus Wealth Partners LLC Invests $226,000 in Seagate Technology Holdings PLC $STX

Abacus Wealth Partners LLC purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 819 shares of the data storage provider’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STX. WCM Investment Management LLC acquired a new position in shares of Seagate Technology during the 3rd quarter worth $1,187,621,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Soroban Capital Partners LP boosted 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 worth $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd purchased a new stake in shares of Seagate Technology in the 3rd quarter worth about $170,435,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Analysts and bullish commentary point to durable AI-related storage demand and Seagate’s HAMR-driven product cycle as potential supports for longer-term revenue and margin growth.
• Neutral Sentiment: Several articles focus on Seagate’s presentation and broader analyst reactions, including price-target updates, but do not add a major new catalyst by themselves.
• Negative Sentiment: CEO comments that it would take too long to build new factories, and that Seagate may not expand capacity aggressively, have raised concern that the company could miss some of the AI demand upside. Article Title
• Negative Sentiment: The capacity warning has also triggered a broader selloff in memory and storage stocks, adding sector pressure to STX. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on STX shares. Bank of America boosted their price objective on shares of Seagate Technology from $700.00 to $840.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Argus boosted their price objective on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Evercore boosted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $450.00 to $700.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $733.71.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 24,584 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at $152,779,151.07. This represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at approximately $33,173,004.34. The trade was a 34.42% 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 90 days, insiders sold 118,283 shares of company stock worth $65,989,618. 0.79% of the stock is currently owned by insiders.

Seagate Technology Price Performance

NASDAQ:STX opened at $733.35 on Wednesday. The firm has a market cap of $164.44 billion, a price-to-earnings ratio of 69.58 and a beta of 1.98. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company’s 50-day moving average is $541.33 and its two-hundred day moving average is $401.33. Seagate Technology Holdings PLC has a 12-month low of $103.73 and a 12-month high of $841.31.

Seagate Technology (NASDAQ:STX) last announced 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. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 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.