Engineers Gate Manager LP Sells 1,401 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Engineers Gate Manager LP reduced its Seagate Technology position by 7.9%, selling 1,401 shares and retaining 16,346 shares valued at approximately $15.8 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported strong quarterly results, with revenue up 48.5% year over year to $3.63 billion and earnings of $5.71 per share, exceeding analyst estimates. Management issued fiscal Q1 2027 guidance of $7.10–$7.50 in EPS, supported by demand for high-capacity storage tied to AI data centers.
• Despite bullish analyst sentiment and an average price target of $986, the stock trades at a demanding valuation after a substantial rally. Company insiders sold 186,323 shares worth about $157.4 million over the past 90 days, while Seagate maintains a quarterly dividend of $0.74 per share.

Engineers Gate Manager LP reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 7.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,346 shares of the data storage provider's stock after selling 1,401 shares during the quarter. Engineers Gate Manager LP's holdings in Seagate Technology were worth $15,774,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC lifted its position in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after buying an additional 12 shares in the last quarter. Bridgewater Advisors Inc. raised its stake in shares of Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after acquiring an additional 13 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Blalock Williams LLC lifted its position in shares of Seagate Technology by 2.6% during the second quarter. Blalock Williams LLC now owns 636 shares of the data storage provider's stock worth $614,000 after purchasing an additional 16 shares in the last quarter. Finally, Beaumont Financial Advisors LLC grew its stake in shares of Seagate Technology by 2.1% during the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 14,091 shares of Seagate Technology stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the sale, the chief financial officer owned 21,543 shares of the company's stock, valued at approximately $17,476,758.75. This trade represents a 39.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the sale, the chief executive officer owned 295,168 shares in the company, valued at $240,939,735.04. The trade was a 9.23% decrease in their position. 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 have sold a total of 186,323 shares of company stock valued at $157,393,279 in the last ninety days. Corporate insiders own 0.79% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate’s HAMR technology and Mozaic platform are increasing drive capacity, exabyte shipments and operating efficiency. Rising demand for high-capacity storage from AI data centers supports the company’s growth outlook. Seagate's HAMR Bet is Paying Off
• Positive Sentiment: Analysts and market commentators continue to see additional upside, citing strong demand visibility and reports that much of Seagate’s expected drive production is already committed. Bull of the Day: Seagate Technology Here's the One Storage Stock I'd Buy With $2,000
• Positive Sentiment: A recent price-target discussion argues that Seagate could eventually reach $1,000 if its capacity expansion, AI-driven demand and execution remain on track, reinforcing the bullish long-term narrative. Price Prediction: Seagate Stock Will Hit $1000 on This Date
• Neutral Sentiment: Management’s presentation at Citi’s 2026 Global TMT Conference gives investors another opportunity to assess demand, HAMR adoption and the company’s outlook, but the available report does not identify a material new announcement. Citi's 2026 Global TMT Conference Transcript
• Neutral Sentiment: Seagate completed redemption of its exchangeable notes. The transaction removes the related debt obligation, although the immediate effect on earnings and valuation is not specified. Seagate Completes Redemption of Exchangeable Notes
• Negative Sentiment: STX has already delivered an exceptional one-year gain and trades at a demanding valuation. That makes the shares vulnerable to profit-taking and less-forgiving reactions even while the long-term AI-storage thesis remains intact.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent research reports. Fox Advisors lowered Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Bank of America boosted their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Wedbush raised their price target on Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $986.00.

Seagate Technology Trading Down 2.0%

Shares of NASDAQ:STX opened at $885.92 on Thursday. Seagate Technology Holdings PLC has a 12 month low of $189.90 and a 12 month high of $1,145.00. 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 company's fifty day simple moving average is $847.74 and its 200 day simple moving average is $721.54. The firm has a market cap of $200.79 billion, a price-to-earnings ratio of 63.83 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share 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 firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the business earned $2.59 EPS. The company's revenue for the quarter 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. As a group, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is presently 21.33%.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

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

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