Allstate Corp Takes $1.86 Million Position in Seagate Technology Holdings PLC $STX

Allstate Corp acquired a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,872 shares of the data storage provider’s stock, valued at approximately $1,858,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Seagate Technology by 1.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 24,420 shares of the data storage provider’s stock valued at $5,495,000 after buying an additional 245 shares during the period. Quantum Portfolio Management LLC bought a new position in shares of Seagate Technology during the third quarter worth about $483,000. Resonant Capital Advisors LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $280,000. Meitav Investment House Ltd. acquired a new stake in Seagate Technology during the third quarter worth about $2,626,000. Finally, Sequoia Financial Advisors LLC grew its stake in Seagate Technology by 29.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,939 shares of the data storage provider’s stock worth $1,638,000 after buying an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.1%

NASDAQ:STX opened at $325.99 on Wednesday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $336.17. The firm has a market capitalization of $69.62 billion, a P/E ratio of 41.85, a P/E/G ratio of 1.28 and a beta of 1.60. The stock’s fifty day simple moving average is $284.51 and its 200-day simple moving average is $226.36.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. Seagate Technology’s payout ratio is 38.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Robert W. Baird raised their target price on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Mizuho boosted their target price on Seagate Technology from $290.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Barclays upped their price target on Seagate Technology from $240.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Finally, Argus boosted their price objective on Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $335.61.

Insider Activity

In other news, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This represents a 48.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the transaction, the director directly owned 12,244 shares in the company, valued at $3,261,924.04. The trade was a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 132,557 shares of company stock worth $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Bank of America reiterated its Buy rating, raised its price target to $400 (from $320), and cited stronger visibility into Q2 revenue and margin growth driven by continued data-center demand and seasonal improvement in consumer/VIA segments. Seagate Technology poised for strong Q2 on data center demand, Bank of America says
• Positive Sentiment: Citigroup raised its target to $385 (from $320) and set a Buy rating — implying roughly mid-to-high teens upside — reflecting bullish analyst views on growth ahead. Benzinga
• Positive Sentiment: Rosenblatt lifted its target to $370 (from $270) and maintains a Buy rating, another vote of confidence supporting near-term upside expectations. Benzinga
• Neutral Sentiment: UBS raised its target to $335 (from $230) but kept a Neutral rating — the new target sits close to the current price, suggesting limited immediate upside from UBS despite the higher valuation. Benzinga
• Neutral Sentiment: A Yahoo Finance piece examines whether Seagate’s push into AI edge storage meaningfully reshapes its competitive moat — a strategic-read that could influence longer-term investor expectations but is uncertain near term. Does Seagate (STX) Leaning Into AI Edge Storage Reframe Its Core Competitive Moat?

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.