Seagate Technology Holdings PLC $STX Holdings Cut by Trek Financial LLC

Key Points

• Trek Financial cut its Seagate stake by 95% in the third quarter, selling 4,681 shares and retaining 247 shares valued at about $228,000. Institutional investors overall own 92.87% of the company, with several major funds increasing their positions.
• Seagate reported quarterly EPS of $7.68, beating the $7.44 estimate, while revenue rose 61% year over year to $4.23 billion. The company raised its quarterly dividend from $0.74 to $0.76 per share.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $1,000.88; company insiders sold 469,319 shares worth about $373.9 million over the quarter, including sales under pre-arranged trading plans.

Trek Financial LLC cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 95.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247 shares of the data storage provider's stock after selling 4,681 shares during the quarter. Trek Financial LLC's holdings in Seagate Technology were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in STX. Wellington Management Group LLP raised its stake in Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock valued at $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Seagate Technology by 3,872.1% in the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after buying an additional 943,170 shares during the last quarter. Amundi grew its holdings in shares of Seagate Technology by 32.2% in the first quarter. Amundi now owns 965,565 shares of the data storage provider's stock worth $378,267,000 after acquiring an additional 235,359 shares during the period. National Pension Service increased its position in Seagate Technology by 0.8% during the second quarter. National Pension Service now owns 834,705 shares of the data storage provider's stock valued at $805,490,000 after acquiring an additional 6,944 shares during the last quarter. Finally, Swiss National Bank boosted its position in Seagate Technology by 9.6% in the first quarter. Swiss National Bank now owns 639,400 shares of the data storage provider's stock worth $250,491,000 after purchasing an additional 55,900 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In related news, EVP John Morris sold 15,466 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the transaction, the executive vice president owned 31,132 shares in the company, valued at $24,038,573.80. This trade represents a 33.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the sale, 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 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. Over the last quarter, insiders sold 469,319 shares of company stock valued at $373,883,846. Company insiders own 0.51% of the company's stock.

Analyst Ratings Changes

STX has been the subject of a number of research reports. Wedbush reaffirmed an "outperform" rating and set a $1,000.00 target price on shares of Seagate Technology in a report on Wednesday, October 28th. Barclays lifted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. UBS Group reiterated a "buy" rating on shares of Seagate Technology in a research note on Monday. Sanford C. Bernstein reissued an "outperform" rating and issued a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Finally, Evercore restated an "outperform" rating on shares of Seagate Technology in a research note on Wednesday, October 28th. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,000.88.

Seagate Technology Price Performance

STX stock opened at $557.06 on Thursday. Seagate Technology Holdings PLC has a 12 month low of $228.61 and a 12 month high of $1,145.00. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $784.91 and a 200 day moving average price of $692.44. The stock has a market cap of $127.88 billion, a PE ratio of 29.26 and a beta of 2.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm earned $2.61 earnings per share. The firm's quarterly revenue was up 61.0% compared to the same quarter last year. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This is a positive change from Seagate Technology's previous quarterly dividend of $0.74. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. Seagate Technology's payout ratio is currently 15.97%.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported a strong start to fiscal 2027: revenue rose 61% year over year, supported by AI-related demand, favorable pricing and greater adoption of its HAMR drives. The company also generated record cash flow. Seagate Revenue Soars 61% in Q1
• Positive Sentiment: Commentary suggests the selloff may overstate Seagate’s exposure to memory-price concerns: it has limited flash-memory exposure, and much of its drive supply is allocated under contracts through 2028. Seagate Sinks on Election and Memory-Price Worries
• Positive Sentiment: A reported $1.2 billion debt paydown, strong free cash flow and a higher dividend point to improved financial flexibility and increased shareholder returns. Seagate’s $1.2 Billion Debt Paydown
• Neutral Sentiment: CEO William D. Mosley and EVP John Morris disclosed share sales. The transactions were made under pre-arranged Rule 10b5-1 plans, which makes them less clearly a signal of a change in management’s outlook. Seagate Insider Sale
• Negative Sentiment: Investors broadly sold data-center and storage shares after the midterm elections, while concerns about memory prices weighed on the sector. Valuation worries may also leave STX vulnerable if growth expectations weaken.

Seagate Technology Profile

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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