Louisiana State Employees Retirement System Takes Position in Seagate Technology Holdings PLC $STX

Louisiana State Employees Retirement System purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,400 shares of the data storage provider’s stock, valued at approximately $9,951,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STX. State Street Corp boosted its holdings in Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares during the last quarter. Morgan Stanley increased its stake in shares of Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Seagate Technology by 8.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Seagate Technology by 1,510.1% in the 4th 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 acquiring an additional 1,883,769 shares during the period. Institutional investors own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Micron’s blowout results and strong AI-driven demand are lifting the entire memory/storage complex, including Seagate. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Analysts and market commentary are highlighting Seagate as an AI infrastructure winner with improving pricing power and durable earnings potential. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor coverage is also pointing to Apple’s warning about rising memory costs as evidence of a broader storage shortage, which could support pricing for Seagate and peers. Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Neutral Sentiment: Short-interest data showed no meaningful short position change, so this does not appear to be a major near-term driver for the stock.

Seagate Technology Trading Up 3.2%

STX opened at $1,025.36 on Friday. The stock has a market capitalization of $229.92 billion, a P/E ratio of 97.28 and a beta of 2.04. Seagate Technology Holdings PLC has a 12 month low of $138.00 and a 12 month high of $1,145.00. The firm’s fifty day simple moving average is $811.11 and its 200 day simple moving average is $526.55. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the business earned $1.90 EPS. The company’s revenue for the quarter 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. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was 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 $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 141,069 shares of company stock valued at $107,161,712 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

STX has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Evercore lifted their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Citigroup boosted their price target on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. UBS Group raised 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. Finally, The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $831.79.

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.