CoreCap Advisors LLC Acquires 5,758 Shares of Seagate Technology Holdings PLC $STX

CoreCap Advisors LLC increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 391.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,230 shares of the data storage provider's stock after acquiring an additional 5,758 shares during the period. CoreCap Advisors LLC's holdings in Seagate Technology were worth $6,977,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock valued at $2,587,535,000 after purchasing an additional 94,527 shares during the last quarter. Morgan Stanley raised its holdings in Seagate Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock valued at $1,464,391,000 after buying an additional 258,151 shares during the period. Geode Capital Management LLC raised its holdings in Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock valued at $1,343,683,000 after buying an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after buying an additional 243,551 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after buying an additional 1,883,769 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STX. Barclays boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Rosenblatt Securities upped their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Fox Advisors downgraded shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $986.00.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual level of visibility for a cyclical storage company. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
• Positive Sentiment: Seagate’s fundamentals remain strong. The company recently reported quarterly EPS of $5.71, exceeding the $5.10 analyst consensus, while revenue reached $3.63 billion versus expectations of $3.50 billion. Revenue rose 48.5% year over year, and management issued quarterly EPS guidance of $7.10 to $7.50. 5 Momentum Stocks to Buy for August Despite a Mixed July
• Positive Sentiment: Seagate remains a favored momentum stock. Analysts continue to point to AI infrastructure spending, earnings growth and financial strength as reasons to consider STX among August’s momentum opportunities. Zacks 5 Momentum Stocks to Buy
• Neutral Sentiment: Insiders reported several planned sales. CEO William D. Mosley sold 30,000 shares for approximately $24.5 million across two transactions, while EVP John Christopher Morris sold 168 shares. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as indicators of management’s current outlook. Seagate CEO Form 4 Filing
• Negative Sentiment: Sector-wide selling is pressuring STX. Seagate fell alongside Western Digital, Micron and other memory stocks as investors took profits and reassessed cyclical demand and elevated valuations. STX’s beta of 2.06 and valuation near 60 times earnings point to heightened sensitivity to sector sentiment. Seagate and Western Digital Dive as Memory Stocks Cool

Seagate Technology Trading Up 1.7%

Shares of STX opened at $845.35 on Wednesday. The firm has a market capitalization of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. Seagate Technology Holdings PLC has a 1-year low of $144.75 and a 1-year high of $1,145.00. The company has a 50-day moving average of $897.27 and a 200 day moving average of $637.35.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its 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 net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company posted $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, research analysts expect that Seagate Technology Holdings PLC will post 33.08 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's payout ratio is 21.33%.

Insider Buying and Selling

In other Seagate Technology news, EVP James Ci Lee sold 694 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the transaction, the executive vice president owned 347 shares of the company's stock, valued at approximately $304,475.15. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 168 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68. Following the completion of the sale, the executive vice president owned 11,920 shares of the company's stock, valued at approximately $9,747,699.20. This represents a 1.39% decrease in their position. 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. Insiders sold 151,540 shares of company stock valued at $128,156,635 over the last quarter. 0.79% of the stock is owned by company insiders.

Seagate Technology Company Profile

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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