The Manufacturers Life Insurance Company Trims Stake in Seagate Technology Holdings PLC $STX

The Manufacturers Life Insurance Company lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,349 shares of the data storage provider’s stock after selling 14,463 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Seagate Technology worth $47,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA raised its holdings 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 worth $553,125,000 after buying an additional 1,883,769 shares during the period. Norges Bank purchased a new position in Seagate Technology during the 4th quarter valued at $498,363,000. Soroban Capital Partners LP boosted its holdings 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 valued at $204,602,000 after acquiring an additional 1,327,197 shares during the period. Deutsche Bank AG grew its position in Seagate Technology by 102.0% in 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 acquiring an additional 807,962 shares during the last quarter. Finally, National Pension Service grew its position in Seagate Technology by 298.7% in the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after acquiring an additional 747,102 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Seagate reported fiscal fourth-quarter adjusted EPS of $5.71, ahead of the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, exceeding expectations. Management guided to fiscal first-quarter 2027 EPS of $7.10–$7.50, well above the prior outlook and supporting expectations for continued momentum. STX Q4 Earnings Top on 48% Sales Jump, AI-led Storage Demand Continues
• Positive Sentiment: Investors and analysts highlighted durable cloud and AI-storage demand, persistent data reuse, nearline capacity allocated through 2028 and Seagate’s Mozaic and HAMR technologies, with drives reaching up to 44TB. These trends improve demand visibility, operating leverage and potential cash flow. How Seagate’s HAMR Shift Is Driving the Next AI Storage Growth Wave
• Positive Sentiment: Wall Street firms raised their targets following the earnings report. Barclays lifted its target to $1,250 and JPMorgan to $1,240, while Citi, Cantor Fitzgerald, Rosenblatt, Wells Fargo, TD Cowen and Wedbush also maintained bullish ratings or increased targets. Zacks Research upgraded STX to “strong buy.”
• Positive Sentiment: The favorable read-through extended across AI and memory stocks, with Seagate’s results helping reinforce the view that data-center infrastructure spending remains strong despite recent concerns about the sustainability of the AI rally.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable in October. The dividend provides shareholder support but is modest relative to the company’s valuation and is unlikely to be the main trading catalyst.
• Negative Sentiment: After its substantial 2026 rally, STX trades at a premium valuation, leaving less room for execution errors. Any slowdown in AI-storage orders, pricing, HAMR adoption or supply fulfillment could trigger profit-taking. Is STX Stock Still Attractive After Its Massive 2026 Price Rally?

Seagate Technology Price Performance

Shares of STX stock opened at $851.68 on Friday. Seagate Technology Holdings PLC has a twelve month low of $144.75 and a twelve month high of $1,145.00. The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 61.36 and a beta of 2.04. The stock has a fifty day simple moving average of $896.04 and a two-hundred day simple moving average of $626.22. The company has a current ratio of 1.67, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts predict that Seagate Technology Holdings PLC will post 26.84 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is presently 21.33%.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Rosenblatt Securities lifted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore upped their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Melius Research assumed coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target on the stock. Argus lifted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a report on Thursday. Finally, China Renaissance lifted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were 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. This represents 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 quarter, insiders sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company’s stock.

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.