BTC Capital Management Inc. Sells 2,371 Shares of Seagate Technology Holdings PLC $STX

Key Points

• BTC Capital Management cut its Seagate Technology stake by 8.9% in the first quarter, selling 2,371 shares and leaving it with 24,244 shares worth about $9.5 million.
• Insider selling has been notable: CEO William D. Mosley sold 30,000 shares and CFO Gianluca Romano sold 22,488 shares, with insiders selling 141,069 shares total over the last three months.
• Seagate reported strong quarterly results, beating earnings and revenue estimates, and analysts remain broadly positive with a consensus “Moderate Buy” rating and an average price target of $831.79.

BTC Capital Management Inc. trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,244 shares of the data storage provider's stock after selling 2,371 shares during the period. BTC Capital Management Inc.'s holdings in Seagate Technology were worth $9,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of STX. Gateway Investment Advisers LLC lifted its position in shares of Seagate Technology by 1.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after acquiring an additional 25 shares in the last quarter. Trajan Wealth LLC boosted its holdings in shares of Seagate Technology by 1.9% in the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock worth $365,000 after acquiring an additional 25 shares during the period. Fortis Capital Management LLC grew its position in shares of Seagate Technology by 1.1% in the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock valued at $704,000 after purchasing an additional 27 shares in the last quarter. EWA LLC grew its position in shares of Seagate Technology by 2.1% in the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider's stock valued at $377,000 after purchasing an additional 28 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its stake in shares of Seagate Technology by 2.7% during the 4th quarter. Icon Wealth Advisors LLC now owns 1,060 shares of the data storage provider's stock valued at $292,000 after purchasing an additional 28 shares during the period. Institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 30,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares of the company's stock, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, CFO Gianluca Romano sold 22,488 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer 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 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 a total of 141,069 shares of company stock worth $107,161,712 over the last three months. Company insiders own 0.79% of the company's stock.

Seagate Technology Trading Down 4.5%

Shares of STX stock opened at $991.65 on Thursday. The company has a market capitalization of $222.36 billion, a PE ratio of 94.08 and a beta of 2.04. Seagate Technology Holdings PLC has a 52-week low of $136.28 and a 52-week high of $1,145.00. The business's fifty day moving average is $801.27 and its 200 day moving average is $521.30. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Wall Street Analyst Weigh In

STX has been the topic of a number of recent research reports. China Renaissance increased their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. TD Cowen upped their price target on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average price target of $831.79.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is still being highlighted as an AI data storage beneficiary, with fresh commentary suggesting the company could continue to gain from rising demand for storage tied to AI infrastructure. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Positive Sentiment: Investor enthusiasm around AI infrastructure remains supportive for the sector after strong forecasts from Micron and Qualcomm sparked a broad rally in chip and memory stocks, reinforcing the bullish case for Seagate’s storage products. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Neutral Sentiment: Seagate has been one of the market’s biggest AI-related winners this year, and some recent articles argue the stock may still have room to run after its huge year-to-date advance. The smart money agrees that Seagate stock still has room to surge higher
• Neutral Sentiment: Stanley Druckenmiller’s AI infrastructure bets have kept attention on the broader theme, which can indirectly support investor interest in Seagate as part of the AI hardware supply chain. Stanley Druckenmiller Backs These 3 AI Infrastructure Stocks: Should You Follow?
• Negative Sentiment: Sentiment weakened after reports that SK Hynix is slowing high-bandwidth memory expansion, which rattled the AI-chip complex and pressured Seagate along with other memory/storage names. Why Seagate (STX) Stock Is Falling Today
• Negative Sentiment: The stock is also seeing profit-taking after its massive 2026 rally, with investors increasingly questioning whether valuations can keep up with the speed of the move higher.

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.

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