Brookstone Capital Management Sells 1,486 Shares of Seagate Technology Holdings PLC $STX

Key Points

• BROOKSTONE CAPITAL MANAGEMENT reduced its holdings in Seagate Technology by 12.4%, selling 1,486 shares in the 2nd quarter, now owning 10,523 shares valued at approximately $1.5 million.
• Analysts have set optimistic price targets for Seagate Technology, with Wells Fargo increasing its target from $160 to $240 and Bank of America from $215 to $255, indicating strong confidence in the stock.
• Seagate has recently declared a quarterly dividend of $0.72 per share, representing an annual yield of 1.2% and a payout ratio of 42.54%.

Brookstone Capital Management decreased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 12.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,523 shares of the data storage provider's stock after selling 1,486 shares during the quarter. Brookstone Capital Management's holdings in Seagate Technology were worth $1,519,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STX. GAMMA Investing LLC raised its holdings in Seagate Technology by 8.5% in the 1st quarter. GAMMA Investing LLC now owns 3,027 shares of the data storage provider's stock valued at $257,000 after acquiring an additional 237 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Seagate Technology by 18.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,122 shares of the data storage provider's stock valued at $1,454,000 after acquiring an additional 2,611 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Seagate Technology by 27.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,482 shares of the data storage provider's stock valued at $1,740,000 after acquiring an additional 4,427 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Seagate Technology by 5.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 89,021 shares of the data storage provider's stock valued at $7,562,000 after acquiring an additional 4,799 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Seagate Technology in the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STX shares. Wells Fargo & Company upped their price target on Seagate Technology from $160.00 to $240.00 and gave the company an "equal weight" rating in a report on Monday, October 13th. Bank of America increased their target price on Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Wedbush raised their target price on Seagate Technology from $175.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, October 16th. Rosenblatt Securities boosted their price target on Seagate Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Seagate Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $234.65.

Seagate Technology Price Performance

STX stock opened at $234.12 on Friday. The business has a fifty day moving average price of $204.69 and a 200 day moving average price of $150.17. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $264.83. The stock has a market capitalization of $49.86 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 1.00 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period last year, the firm posted $1.05 EPS. The business's revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Tuesday, September 30th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Insider Activity

In related news, EVP Ban Seng Teh sold 1,410 shares of the firm's stock in a transaction on Monday, October 13th. The stock was sold at an average price of $225.56, for a total transaction of $318,039.60. Following the completion of the sale, the executive vice president directly owned 18,041 shares of the company's stock, valued at $4,069,327.96. This trade represents a 7.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the transaction, the executive vice president owned 13,238 shares in the company, valued at $2,796,659.88. The trade was a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,620 shares of company stock worth $14,464,056. 0.79% of the stock is currently owned by insiders.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.