Hawk Ridge Capital Management LP Sells 27,604 Shares of Seagate Technology Holdings PLC $STX

Hawk Ridge Capital Management LP lessened its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,300 shares of the data storage provider’s stock after selling 27,604 shares during the quarter. Seagate Technology accounts for 2.5% of Hawk Ridge Capital Management LP’s investment portfolio, making the stock its 15th biggest position. Hawk Ridge Capital Management LP’s holdings in Seagate Technology were worth $67,892,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC boosted its position in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new stake in Seagate Technology during the 2nd quarter valued at about $262,000. Cerity Partners LLC grew its position in Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. increased its stake in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after purchasing an additional 462 shares during the period. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STX has been the topic of several analyst reports. BNP Paribas Exane lifted their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Wedbush increased their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. UBS Group raised their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Bank of America boosted their price objective on shares of 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, Loop Capital upped their price objective 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. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $898.52.

Seagate Technology Stock Performance

Seagate Technology stock opened at $816.99 on Tuesday. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The stock’s 50 day simple moving average is $894.67 and its two-hundred day simple moving average is $615.89. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $183.19 billion, a price-to-earnings ratio of 77.51 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 earnings per share. As a group, analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction dated 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 directly owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Strong AI-related demand remains the key bullish factor. Analysts are focusing on rising nearline hard-disk-drive demand from data centers, increasing exabyte shipments and continued momentum for Seagate’s Mozaic platform. Morgan Stanley analyst Erik Woodring reportedly remains highly constructive, saying the hard-drive market has strengthened. Can Increasing HDD Exabyte Shipments Bolster Seagate’s Q4 Earnings?
• Positive Sentiment: Prior operating performance provides support. Seagate’s latest reported quarter exceeded consensus expectations, with revenue rising 44.1% year over year, while management’s fourth-quarter earnings guidance of $4.80–$5.20 per share sets a relatively strong bar for the upcoming report.
• Neutral Sentiment: Options traders anticipate significant volatility. With earnings due Tuesday, market participants expect a large post-report move, making the results, forward guidance and commentary on AI infrastructure spending especially important for STX’s near-term direction. Here’s How Much Traders See Seagate Stock Moving After Earnings
• Negative Sentiment: Valuation and profit-taking are weighing on the stock. The pullback follows a sharp long-term advance, leaving investors concerned that strong expectations may already be reflected in the share price. Seagate is also trading amid weakness across AI, memory and hardware stocks.
• Negative Sentiment: Tariff uncertainty adds pressure. New U.S. tariffs affecting key semiconductor trading partners have contributed to sector-wide selling and raised concerns about costs, supply chains and international demand ahead of earnings. Seagate Technology Holdings Falls On Tariffs As Fair Value Stays In Focus

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.