Central Pacific Bank Trust Division Acquires 1,256 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Central Pacific Bank Trust Division more than doubled its Seagate Technology stake in the third quarter, purchasing 1,256 additional shares and bringing its holdings to 2,380 shares valued at approximately $2.2 million.
• Seagate reported strong quarterly results, with EPS of $5.71 exceeding estimates of $5.10 and revenue rising 48.5% year over year to $3.63 billion. The company also declared a quarterly dividend of $0.74 per share.
• Institutional investors own 92.87% of Seagate, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $986. However, insider selling and Toshiba’s planned HDD capacity expansion remain potential risks to sentiment and future pricing.

Central Pacific Bank Trust Division boosted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 111.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,380 shares of the data storage provider's stock after buying an additional 1,256 shares during the period. Central Pacific Bank Trust Division's holdings in Seagate Technology were worth $2,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC increased its position in Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at $39,000. Trust Co. of Vermont acquired a new stake in shares of Seagate Technology during the 2nd quarter worth $54,000. Triumph Capital Management increased its holdings in shares of Seagate Technology by 93.5% during the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider's stock worth $58,000 after buying an additional 29 shares during the last quarter. Finally, Cornerstone Financial Management LLC raised its position in shares of Seagate Technology by 109.7% in the 2nd quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider's stock worth $63,000 after buying an additional 34 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of STX opened at $887.09 on Tuesday. The firm has a market cap of $201.72 billion, a price-to-earnings ratio of 63.91 and a beta of 2.06. 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 business's 50 day moving average is $856.07 and its two-hundred day moving average is $782.73. Seagate Technology Holdings PLC has a 52-week low of $209.00 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm's revenue was up 48.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology's payout ratio is 21.33%.

Key Seagate Technology News

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

• Positive Sentiment: Analysts call the Toshiba-related selloff overdone. Bernstein described the market reaction as a “storm in a teacup,” while other analysts characterized the decline as a potential buying opportunity. The view is that Toshiba’s capacity expansion will take time and may not significantly affect Seagate’s near-term results. Western Digital Jumps 7%, Seagate Climbs 5% as Bernstein Calls Toshiba Selloff a Storm in a Teacup
• Positive Sentiment: AI infrastructure demand remains the central bullish thesis. Cloud providers building data centers need substantially more high-capacity storage, and Seagate reportedly has nearline-drive contracts extending deep into 2027. Limited industry supply could support utilization, pricing and revenue visibility. Seagate Is Riding One of AI’s Most Important Trends
• Positive Sentiment: Seagate’s recent operating momentum has been strong. The company’s stock substantially outperformed the S&P 500 over the past year, reflecting investor confidence in its exposure to AI-driven data-center demand. What Was Seagate Telling You Before Its Stock Ran?
• Neutral Sentiment: The key debate is supply versus demand. Toshiba intends to double HDD production capacity, but investors are assessing how quickly that capacity will come online and whether AI-related demand can absorb the additional drives. Why Western Digital and Seagate Stocks Are Rebounding on Monday?
• Negative Sentiment: Toshiba’s planned capacity increase remains a longer-term competitive risk. If the expansion materially increases HDD supply, it could eventually pressure Seagate’s pricing, margins and market share. Toshiba Is Doubling Hard Drive Output
• Negative Sentiment: Reports also cited insider selling. Such activity can weigh on sentiment, particularly after a major rally, although the primary catalyst discussed in the recent coverage was Toshiba’s production announcement. Seagate Technology Shares Gap Down on Insider Selling

Wall Street Analyst Weigh In

Several equities research analysts have commented on STX shares. Susquehanna upped their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,300.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Barclays boosted their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup upped their price target on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $986.00.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Morris sold 9,354 shares of Seagate Technology stock in a transaction on Monday, September 21st. The shares were sold at an average price of $877.91, for a total value of $8,211,970.14. Following the completion of the transaction, the executive vice president owned 22,693 shares of the company's stock, valued at $19,922,411.63. The trade was a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares in the company, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is currently owned by insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.

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