Elevation Point Wealth Partners LLC Buys 9,218 Shares of Seagate Technology Holdings PLC $STX

Elevation Point Wealth Partners LLC lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 783.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,394 shares of the data storage provider’s stock after buying an additional 9,218 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Seagate Technology were worth $4,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC grew its stake in Seagate Technology by 3.9% during the first quarter. Sound Income Strategies LLC now owns 1,701 shares of the data storage provider’s stock worth $720,000 after purchasing an additional 64 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Seagate Technology in the first quarter valued at approximately $2,996,000. TSG Advice Partners LLC boosted its holdings in shares of Seagate Technology by 1.9% during the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider’s stock worth $567,000 after buying an additional 27 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of Seagate Technology by 7.3% during the 1st quarter. Root Financial Partners LLC now owns 678 shares of the data storage provider’s stock worth $266,000 after buying an additional 46 shares in the last quarter. Finally, Jacobsen Capital Management acquired a new stake in shares of Seagate Technology during the 1st quarter worth approximately $259,000. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on STX. Citigroup lifted their price target on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Bank of America raised their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Sanford C. Bernstein raised their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Evercore boosted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $880.52.

Seagate Technology Stock Performance

Shares of STX opened at $820.16 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $183.90 billion, a price-to-earnings ratio of 77.81 and a beta of 2.04. The stock has a 50 day moving average of $853.32 and a 200 day moving average of $550.33. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share 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 paid a $0.74 dividend. The ex-dividend date 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 Buying and Selling

In other news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This trade represents a 8.12% 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 151,069 shares of company stock worth $126,191,753 over the last quarter. 0.79% of the stock is owned by corporate insiders.

Seagate Technology News Summary

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

• Positive Sentiment: Zacks upgraded Seagate to Strong Buy, citing improving earnings expectations and bullish momentum around the company’s outlook. Seagate (STX) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Another Zacks note argued Seagate remains an attractive growth stock, pointing to strong business fundamentals and potential for continued upside. Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Analysts also highlighted Seagate’s surging data center business, helped by cloud demand, Mozaic adoption, and long-term supply agreements that could support revenue growth through fiscal 2027. Can Seagate’s Data Center Business Maintain its Growth Momentum?

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.