3,728 Seagate Technology Holdings PLC $STX Shares Sold by Parkway Wealth Management Group LLC

Key Points

• Parkway Wealth Management Group reduced its Seagate stake by 41.2%, selling 3,728 shares and retaining 5,310 shares valued at approximately $4.9 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported quarterly revenue of $3.63 billion and adjusted earnings of $5.71 per share, exceeding analyst expectations, while revenue increased 48.5% year over year. The company also declared a quarterly dividend of $0.74 per share.
• Analysts maintain a generally positive outlook, with 22 Buy ratings and five Hold ratings and a consensus price target of $973.40. Meanwhile, Seagate’s CEO and CFO sold shares to cover tax withholding obligations, contributing to $378.8 million in insider sales over the past 90 days.

Parkway Wealth Management Group LLC cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 41.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,310 shares of the data storage provider's stock after selling 3,728 shares during the quarter. Parkway Wealth Management Group LLC's holdings in Seagate Technology were worth $4,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Eagle Wealth Advisors LLC grew its stake in Seagate Technology by 7.5% in the third quarter. Eagle Wealth Advisors LLC now owns 488 shares of the data storage provider's stock valued at $450,000 after purchasing an additional 34 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Seagate Technology by 5.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,170 shares of the data storage provider's stock worth $53,653,000 after purchasing an additional 3,244 shares in the last quarter. CFS Investment Advisory Services LLC raised its stake in shares of Seagate Technology by 7.0% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 471 shares of the data storage provider's stock worth $434,000 after purchasing an additional 31 shares in the last quarter. Hidden Cove Wealth Management LLC raised its stake in shares of Seagate Technology by 5.9% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 286 shares of the data storage provider's stock worth $264,000 after purchasing an additional 16 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC raised its stake in shares of Seagate Technology by 8.5% during the 3rd quarter. Kaufman Rossin Wealth LLC now owns 346 shares of the data storage provider's stock worth $319,000 after purchasing an additional 27 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX opened at $660.81 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock's 50 day moving average price is $839.57 and its two-hundred day moving average price is $806.45. The firm has a market capitalization of $150.26 billion, a P/E ratio of 47.61 and a beta of 2.06. Seagate Technology Holdings PLC has a 12-month low of $209.00 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company earned $2.59 earnings per share. The company's quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were paid a $0.74 dividend. The ex-dividend date was Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the subject of several research reports. Barclays lifted their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Susquehanna increased their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Argus increased their price objective on Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Wells Fargo & Company cut their price objective on shares of Seagate Technology from $1,180.00 to $865.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,350.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus target price of $973.40.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 97,889 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the transaction, the chief executive officer owned 378,108 shares of the company's stock, valued at approximately $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the transaction, the chief financial officer owned 70,756 shares of the company's stock, valued at approximately $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 466,959 shares of company stock worth $378,840,741. 0.51% of the stock is owned by insiders.

Seagate Technology Profile

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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