Bank of New York Mellon Corp Boosts Stake in Seagate Technology Holdings PLC $STX

Bank of New York Mellon Corp grew its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,045,828 shares of the data storage provider’s stock after buying an additional 26,636 shares during the quarter. Bank of New York Mellon Corp’s holdings in Seagate Technology were worth $246,878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Norges Bank purchased a new stake in shares of Seagate Technology during the second quarter valued at approximately $197,027,000. Boston Partners bought a new position in Seagate Technology in the 2nd quarter valued at $193,500,000. Soroban Capital Partners LP increased its position in shares of 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 valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Maple Rock Capital Partners Inc. raised its stake in shares of Seagate Technology by 85.3% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,131,752 shares of the data storage provider’s stock worth $163,346,000 after purchasing an additional 520,846 shares during the period. Finally, State Street Corp boosted its holdings in shares of Seagate Technology by 5.0% in the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the transaction, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the transaction, the chief financial officer directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 124,902 shares of company stock valued at $34,819,987. 0.79% of the stock is currently owned by insiders.

Seagate Technology Trading Up 0.8%

Shares of STX stock opened at $446.57 on Friday. The company’s fifty day simple moving average is $301.25 and its two-hundred day simple moving average is $236.62. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.62. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $457.84. The stock has a market capitalization of $95.37 billion, a price-to-earnings ratio of 50.52, a PEG ratio of 1.29 and a beta of 1.60.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s payout ratio is presently 38.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on STX shares. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday. Evercore ISI raised their price target on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark increased their price objective on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, TD Cowen raised their target price on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $411.04.

Key Seagate Technology News

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate reported $3.11 EPS and $2.83B revenue (both above consensus), delivered record margins and issued Q3 EPS guidance of $3.20–$3.60 (above Street estimates); this fundamental beat and stronger outlook are the main catalysts lifting the stock. Seagate Q2 Highlights
• Positive Sentiment: Demand commentary — Management said Seagate is effectively sold out through 2026 as AI-led data-center demand ramps, supporting visibility into revenue and pricing power for nearline capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Large analyst target upgrades — Multiple firms raised price targets and ratings after the print (examples: Robert W. Baird to $505, Cantor/Rosenblatt/TD Cowen to $500+, Evercore to $450 and Citigroup to $460), which likely amplified buying from momentum and institutional flows. Evercore Price Target Update
• Neutral Sentiment: Mixed analyst positioning — Some houses raised targets but a few major banks still have neutral/discounted targets relative to the rally (Goldman/UBS/Barclays still below the intraday highs), signaling differing views on sustainable valuation. Analyst Rating Coverage
• Neutral Sentiment: Dividend maintained — Seagate declared a quarterly dividend (modest yield ~0.7%), a shareholder-friendly item but unlikely to be a primary driver of the share move.
• Negative Sentiment: Insider sale — EVP James Ci Lee sold 673 shares recently, reducing his holdings materially; insider sales can be interpreted negatively by some investors even though the sale size is small relative to the market cap. SEC Form 4

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.