Seagate Technology Holdings PLC $STX Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Seagate stake by 85.9% in the first quarter, holding 22,046 shares valued at $8.64 million. Institutional investors and hedge funds collectively own 92.87% of STX.
• Seagate reported quarterly EPS of $5.71 and revenue of $3.63 billion, beating estimates of $5.10 EPS and $3.50 billion revenue; revenue rose 48.5% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $986.
• Insiders sold 149,638 shares worth approximately $126.7 million over the past three months, while Seagate declared a quarterly dividend of $0.74 per share, equivalent to a 0.4% annualized yield.

NewEdge Advisors LLC increased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 85.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,046 shares of the data storage provider's stock after purchasing an additional 10,190 shares during the quarter. NewEdge Advisors LLC's holdings in Seagate Technology were worth $8,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Avion Wealth grew its position in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after buying an additional 79 shares during the last quarter. Concord Wealth Partners purchased a new position in shares of Seagate Technology in the 4th quarter valued at $28,000. Finally, Quarry LP acquired a new stake in Seagate Technology during the 4th quarter worth $31,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STX has been the subject of a number of research reports. Fox Advisors cut shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Argus lifted their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Citigroup upped their target price on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $986.00.

Insider Buying and Selling

In other news, EVP James Ci Lee sold 694 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $877.45, for a total value of $608,950.30. Following the completion of the sale, the executive vice president directly owned 347 shares of the company's stock, valued at $304,475.15. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 168 shares of Seagate Technology stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $817.76, for a total value of $137,383.68. Following the completion of the sale, the executive vice president owned 11,920 shares in the company, valued at approximately $9,747,699.20. This trade represents a 1.39% decrease in their ownership of the stock. 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 have sold 149,638 shares of company stock worth $126,692,095 in the last three months. Company insiders own 0.79% of the company's stock.

More Seagate Technology News

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

• Positive Sentiment: Analysts raised Seagate’s estimated fair value from $959.48 to $1,115.87, citing stronger hard-drive pricing power, AI-related storage demand, and improving expectations for margins and cash generation. Seagate stock fair value rises after analysts lift storage demand
• Positive Sentiment: Jim Cramer argued that Seagate’s recent earnings were not poor, reinforcing the view that the company remains a beneficiary of AI-related demand. Seagate previously exceeded quarterly earnings and revenue expectations and issued strong forward EPS guidance. Jim Cramer discusses Seagate earnings
• Neutral Sentiment: Seagate remains one of the growth stocks highlighted for August, with analysts pointing to continued AI-driven demand as a potential long-term opportunity. Top-ranked growth stocks for August
• Negative Sentiment: Western Digital’s earnings beat was overshadowed by guidance that failed to meet extremely high investor expectations. Because Seagate and Western Digital compete in hard-disk drives, the disappointment triggered broader selling across memory and storage stocks. Why Western Digital stock is sinking
• Negative Sentiment: Shares across the sector, including Seagate, Western Digital, Sandisk, Micron and SK Hynix, continued to weaken as investors questioned whether AI-related memory demand and pricing can sustain current valuations.
• Negative Sentiment: SK Hynix’s approval of roughly $38 billion for two new memory fabrication plants heightened concerns about future capacity expansion, capital spending and a possible oversupply cycle in 2027. SK Hynix approves new memory fabs

Seagate Technology Stock Performance

NASDAQ:STX opened at $812.76 on Monday. The firm's fifty day moving average price is $894.71 and its 200 day moving average price is $648.12. Seagate Technology Holdings PLC has a 1-year low of $148.56 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 firm has a market cap of $184.21 billion, a price-to-earnings ratio of 58.56 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.50 billion. During the same period in the previous year, the company posted $2.59 EPS. Seagate Technology's 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, sell-side analysts expect that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

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

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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