CI Investments Inc. Has $7.74 Million Stake in Seagate Technology Holdings PLC $STX

CI Investments Inc. grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 1,665.6% in the first quarter, HoldingsChannel.com reports. The fund owned 19,757 shares of the data storage provider’s stock after acquiring an additional 18,638 shares during the quarter. CI Investments Inc.’s holdings in Seagate Technology were worth $7,740,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after buying an additional 94,527 shares during the period. Morgan Stanley grew its position in shares of Seagate Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after buying an additional 258,151 shares during the period. Geode Capital Management LLC grew its position in shares of Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after buying an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership increased its stake 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 valued at $553,125,000 after acquiring an additional 1,883,769 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on STX. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Evercore upped their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Wedbush boosted their target price on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, BNP Paribas Exane increased their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $913.36 on Friday. The stock has a market cap of $204.80 billion, a price-to-earnings ratio of 86.66 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The firm’s 50-day simple moving average is $892.03 and its 200 day simple moving average is $608.50.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during 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 company’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.90 EPS. 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 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio is 28.08%.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 9,343 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total value of $8,636,856.06. Following the transaction, the chief executive officer owned 311,517 shares in the company, valued at approximately $287,972,545.14. This trade represents a 2.91% 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. Over the last three months, insiders have sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Company 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.