Mesirow Financial Investment Management Inc. Decreases Stock Position in Seagate Technology Holdings PLC $STX

Mesirow Financial Investment Management Inc. lessened its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 59.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766 shares of the data storage provider’s stock after selling 1,114 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Seagate Technology were worth $211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC boosted its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. Concord Wealth Partners purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. Avion Wealth boosted its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $37,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STX shares. Morgan Stanley raised their price objective on Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price objective on Seagate Technology from $450.00 to $700.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Bank of America raised their price objective on Seagate Technology from $700.00 to $840.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $733.71.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $795.47 on Friday. Seagate Technology Holdings PLC has a 1-year low of $103.73 and a 1-year high of $841.31. 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’s fifty day moving average price is $526.24 and its two-hundred day moving average price is $393.24. The firm has a market capitalization of $178.37 billion, a PE ratio of 75.47 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Transactions at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This trade represents a 32.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction on 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 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 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. Insiders sold 118,283 shares of company stock valued at $65,989,618 over the last three months. 0.79% of the stock is currently owned by company insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

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.