Cooper Financial Group Lowers Holdings in Seagate Technology Holdings PLC $STX

Cooper Financial Group decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 57.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,211 shares of the data storage provider’s stock after selling 1,641 shares during the quarter. Cooper Financial Group’s holdings in Seagate Technology were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in Seagate Technology by 1,510.1% during 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 acquiring an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in Seagate Technology during the 4th quarter valued at about $498,363,000. Soroban Capital Partners LP raised its holdings 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 valued at $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Seagate Technology by 3,872.1% in the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after purchasing an additional 943,170 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of 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 worth $440,614,000 after purchasing an additional 807,962 shares during the period. 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: Analysts raised Seagate’s estimated fair value from $959.48 to $1,115.87, citing stronger hard-drive pricing power, AI-related storage demand, and improving expectations for margins and cash generation. Seagate stock fair value rises after analysts lift storage demand
• Positive Sentiment: Jim Cramer argued that Seagate’s recent earnings were not poor, reinforcing the view that the company remains a beneficiary of AI-related demand. Seagate previously exceeded quarterly earnings and revenue expectations and issued strong forward EPS guidance. Jim Cramer discusses Seagate earnings
• Neutral Sentiment: Seagate remains one of the growth stocks highlighted for August, with analysts pointing to continued AI-driven demand as a potential long-term opportunity. Top-ranked growth stocks for August
• Negative Sentiment: Western Digital’s earnings beat was overshadowed by guidance that failed to meet extremely high investor expectations. Because Seagate and Western Digital compete in hard-disk drives, the disappointment triggered broader selling across memory and storage stocks. Why Western Digital stock is sinking
• Negative Sentiment: Shares across the sector, including Seagate, Western Digital, Sandisk, Micron and SK Hynix, continued to weaken as investors questioned whether AI-related memory demand and pricing can sustain current valuations.
• Negative Sentiment: SK Hynix’s approval of roughly $38 billion for two new memory fabrication plants heightened concerns about future capacity expansion, capital spending and a possible oversupply cycle in 2027. SK Hynix approves new memory fabs

Wall Street Analysts Forecast Growth

STX has been the topic of several research reports. Citigroup lifted their price objective on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Melius Research assumed coverage on Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. JPMorgan Chase & Co. increased their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Bank of America boosted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, UBS Group upped their price objective on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Trading Down 4.7%

NASDAQ STX opened at $812.76 on Friday. Seagate Technology Holdings PLC has a 52 week low of $148.56 and a 52 week high of $1,145.00. The company has a 50 day moving average price of $894.71 and a 200 day moving average price of $645.87. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The firm has a market cap of $184.21 billion, a PE ratio of 58.56 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the firm earned $2.59 earnings per share. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 33.08 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. This represents a 8.12% 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 90 days, insiders have sold 149,638 shares of company stock worth $126,692,095. 0.79% of the stock is owned by company insiders.

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.