Delta Global Management LP Makes New Investment in Seagate Technology Holdings PLC $STX

Delta Global Management LP purchased a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,120 shares of the data storage provider’s stock, valued at approximately $20,137,000. Seagate Technology makes up about 0.9% of Delta Global Management LP’s portfolio, making the stock its 25th biggest holding.

Several other large investors also recently modified their holdings of STX. Salomon & Ludwin LLC raised its position in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth raised its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the period. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. 92.87% of the stock is owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Morgan Stanley sharply raised its price target on Seagate Technology (STX) to $1,035 from $767 and reiterated an Overweight rating, citing strong earnings, improving hard-disk-drive pricing, and expectations that supply shortages could last through at least 2028. Benzinga reference
• Positive Sentiment: Analysts and market reports highlighted Seagate as a beneficiary of rising AI data-center demand, with broader tech and memory/storage stocks also gaining on improved sector sentiment. Yahoo Finance reference
• Positive Sentiment: Seagate’s recent debt redemption, which removed about $150.7 million of exchangeable notes, may be viewed as a modest balance-sheet positive because it reduces leverage and improves financial flexibility. Yahoo Finance reference
• Neutral Sentiment: Multiple Seagate executives, including CEO William D. Mosley and CFO Gianluca Romano, disclosed insider share sales dated June 12. Several trades were made under pre-arranged 10b5-1 plans, so they are not necessarily a negative signal on fundamentals.

Seagate Technology Trading Up 9.4%

STX opened at $1,018.80 on Tuesday. The company’s 50 day moving average is $721.33 and its 200-day moving average is $482.71. Seagate Technology Holdings PLC has a 1-year low of $127.61 and a 1-year high of $1,032.52. 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 has a market cap of $228.45 billion, a P/E ratio of 96.66 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company posted $1.90 EPS. The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Buying and Selling

In related news, EVP John Christopher Morris sold 1,364 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the sale, the executive vice president directly owned 12,088 shares in the company, valued at $10,639,736.72. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the sale, the chief financial officer owned 42,860 shares in the company, valued at approximately $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 165,653 shares of company stock worth $117,161,746 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STX. Evercore increased their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wedbush upped their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. China Renaissance upped their price target on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday. Finally, Loop Capital upped their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. 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 stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $831.79.

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.