Seagate Technology Holdings PLC $STX Holdings Lowered by CoreCap Advisors LLC

Key Points

• CoreCap Advisors cut its Seagate stake by 40.6% in the third quarter, selling 2,932 shares and retaining 4,298 shares valued at approximately $3.96 million. Institutional investors still own 92.87% of the company.
• Seagate reported quarterly revenue of $3.63 billion and adjusted EPS of $5.71, exceeding analyst estimates, while revenue increased 48.5% year over year. The company also issued quarterly guidance of $7.10–$7.50 EPS.
• The company paid a quarterly dividend of $0.74 per share, equivalent to a 0.4% yield, while insiders sold roughly 466,959 shares worth $378.8 million over the past three months. Analysts maintained a broadly positive view, with a consensus “Moderate Buy” rating and an average price target of $986.

CoreCap Advisors LLC reduced its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 40.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,298 shares of the data storage provider's stock after selling 2,932 shares during the quarter. CoreCap Advisors LLC's holdings in Seagate Technology were worth $3,964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Wealth Solutions LLC grew its stake 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 during the last quarter. Bridgewater Advisors Inc. increased its position in Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after buying an additional 13 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in Seagate Technology by 4.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider's stock valued at $295,000 after buying an additional 14 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew 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 acquiring an additional 15 shares during the last quarter. Finally, Blalock Williams LLC grew 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 acquiring an additional 16 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $774.83 on Friday. The stock has a fifty day moving average price of $856.56 and a 200 day moving average price of $790.73. Seagate Technology Holdings PLC has a 1-year low of $209.00 and a 1-year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The company has a market cap of $176.19 billion, a PE ratio of 55.82 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. Seagate Technology's quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

Insiders Place Their Bets

In related news, EVP John Morris sold 9,354 shares of the company's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president owned 22,693 shares of the company's stock, valued at $19,922,411.63. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares of the company's stock, valued at $4,543,884.80. The trade was a 90.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 466,959 shares of company stock valued at $378,840,741 in the last three months. 0.51% of the stock is owned by corporate insiders.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: AI workloads continue to generate substantial demand for cost-efficient, high-capacity storage, supporting the long-term outlook for Seagate’s enterprise HDD business. Analysts are also comparing Seagate favorably with Western Digital as investors assess which storage stock has more upside. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Seagate recently delivered stronger-than-expected results, with quarterly revenue rising sharply year over year and earnings exceeding analysts’ estimates. Its next-quarter guidance also points to continued profitability, although investors are now focused on whether supply changes could affect that trajectory.
• Positive Sentiment: The company paid a dividend to shareholders, reinforcing its income appeal and highlighting the potential for shareholder returns alongside its growth exposure. HP, Merck, and Seagate Just Paid Their Shareholders

Analyst Upgrades and Downgrades

Several research firms recently commented on STX. Cantor Fitzgerald reiterated an "overweight" rating and issued a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Melius Research began coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a "buy" rating and a $1,600.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. TD Cowen lifted their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Finally, Bank of America upped their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $986.00.

About Seagate Technology

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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