L & S Advisors Inc Sells 29,068 Shares of Seagate Technology Holdings PLC $STX

Key Points

• L & S Advisors Inc cut its Seagate Technology stake by 48.8% in the fourth quarter, selling 29,068 shares and leaving it with 30,501 shares valued at about $8.4 million.
• Seagate reported strong quarterly results, posting earnings of $4.10 per share versus $3.51 expected and revenue of $3.11 billion versus $2.96 billion expected, while also issuing Q4 2026 EPS guidance of 4.80 to 5.20.
• Insider selling and analyst optimism were both notable: executives recently sold shares, but several analysts raised price targets, and Seagate’s consensus rating remains Moderate Buy with a $733.71 average target.

L & S Advisors Inc trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 48.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,501 shares of the data storage provider's stock after selling 29,068 shares during the quarter. Seagate Technology accounts for 0.8% of L & S Advisors Inc's holdings, making the stock its 29th biggest position. L & S Advisors Inc's holdings in Seagate Technology were worth $8,400,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC boosted its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the 4th quarter worth approximately $28,000. Concord Wealth Partners acquired a new position in Seagate Technology during the 4th quarter worth approximately $28,000. Avion Wealth boosted its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Seagate Technology during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Down 1.2%

STX opened at $795.47 on Friday. Seagate Technology Holdings PLC has a 1-year low of $103.73 and a 1-year high of $841.31. The stock's fifty day simple moving average is $526.24 and its 200 day simple moving average is $393.24. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market cap of $178.37 billion, a PE ratio of 75.47 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for 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 for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction 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 transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This trade represents a 34.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 5,626 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. The trade was a 32.00% 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. Over the last ninety days, insiders have sold 118,283 shares of company stock worth $65,989,618. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Susquehanna upped their price target on Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. Argus upped their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Robert W. Baird upped their price target on Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Finally, Citigroup upped their price target on Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $733.71.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Seagate Technology 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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