WCM Investment Management LLC Sells 808,020 Shares of Seagate Technology Holdings PLC $STX

WCM Investment Management LLC reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 15.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,346,852 shares of the data storage provider’s stock after selling 808,020 shares during the quarter. Seagate Technology comprises 3.6% of WCM Investment Management LLC’s holdings, making the stock its 8th largest position. WCM Investment Management LLC’s holdings in Seagate Technology were worth $1,575,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of STX. Massachusetts Financial Services Co. MA grew its position 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 valued at $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Norges Bank acquired a new stake in Seagate Technology during the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP lifted 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 worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Deutsche Bank AG boosted its stake 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 purchasing an additional 807,962 shares during the period. Finally, National Pension Service boosted its stake 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 purchasing an additional 747,102 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $900.00 to $1,100.00 in a research report on Friday, July 10th. Citigroup boosted their target price on shares of Seagate Technology from $1,150.00 to $1,240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Barclays raised their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, China Renaissance lifted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $898.52.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $787.66 on Monday. The stock has a market capitalization of $176.62 billion, a PE ratio of 74.73 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 business has a fifty day moving average price of $887.01 and a two-hundred day moving average price of $591.62. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its 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. The firm 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 revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed 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 yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 28.08%.

Insider Activity

In other news, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the sale, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their position. 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. 0.79% of the stock is owned by company insiders.

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.