Seagate Technology Holdings PLC $STX Shares Sold by Beacon Bank & Trust

Key Points

• Beacon Bank & Trust cut its Seagate stake by 26.7% in the second quarter, selling 1,164 shares and retaining 3,188 shares worth approximately $3.1 million. Institutional investors collectively own 92.87% of STX.
• Seagate reported quarterly earnings of $5.71 per share on $3.63 billion in revenue, beating estimates and marking 48.5% year-over-year revenue growth. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $986.
• Seagate guided fiscal first-quarter 2027 EPS to $7.10–$7.50 and declared a quarterly dividend of $0.74 per share. Executives also sold shares under pre-arranged Rule 10b5-1 plans, while the stock trades near $973.44 after a significant rally.

Beacon Bank & Trust lowered its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 26.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,188 shares of the data storage provider's stock after selling 1,164 shares during the period. Beacon Bank & Trust's holdings in Seagate Technology were worth $3,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in shares of Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new stake in Seagate Technology in the second quarter valued at $262,000. Cerity Partners LLC boosted its position in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after acquiring an additional 7,517 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after acquiring an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STX shares. China Renaissance boosted their target price on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. BNP Paribas Exane increased their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Susquehanna raised their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. TD Cowen boosted their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Stock Up 5.7%

Shares of NASDAQ STX opened at $973.44 on Friday. The stock has a market capitalization of $220.63 billion, a price-to-earnings ratio of 70.13 and a beta of 2.06. Seagate Technology Holdings PLC has a 52 week low of $152.05 and a 52 week high of $1,145.00. The firm has a 50-day moving average price of $891.36 and a 200 day moving average price of $664.79. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 34.42 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 of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology's payout ratio is currently 21.33%.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate finished fiscal 2026 ahead of expectations, with revenue of $3.63 billion, adjusted EPS of $5.71, and year-over-year revenue growth of 48.5%. Management also guided to fiscal first-quarter 2027 EPS of $7.10 to $7.50, reinforcing expectations for continued earnings growth. How Seagate’s Strong Fiscal 2026 Beat and HAMR Momentum May Impact Seagate Technology Investors
• Positive Sentiment: Non-GAAP gross margin expanded for the 13th consecutive quarter, while quarterly free cash flow reached its strongest level in more than a decade. These trends suggest improving operating leverage and financial flexibility. Seagate Technology Holdings Following Strong FY2026 Results Looks Undervalued By The Narrative
• Positive Sentiment: AI-related storage demand, supply agreements extending beyond 2028, and Seagate’s HAMR-based Mozaic platform are viewed as catalysts for planned mid-20% exabyte growth. Analysts see the company as a potential underappreciated AI-infrastructure beneficiary. The AI Stock Everyone Knows But Few See Becoming a Future Winner
• Positive Sentiment: Upward earnings-estimate revisions are adding to the bullish case, as analysts anticipate that stronger storage demand and expanding margins could produce further upside for STX. Surging Earnings Estimates Signal Upside for Seagate Stock
• Neutral Sentiment: Although some valuation analysis indicates potential discounted-cash-flow upside, Seagate’s substantial multiyear rally and elevated earnings multiple mean the stock is not uniformly viewed as a bargain. Investors remain exposed to storage-industry cyclicality and high expectations. Seagate Stock Could Trade Below Fair Value While Earnings Look Full

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 880 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $845.12, for a total transaction of $743,705.60. Following the completion of the transaction, the chief financial officer directly owned 20,663 shares of the company's stock, valued at $17,462,714.56. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 168 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total value of $137,383.68. Following the transaction, the executive vice president directly owned 11,920 shares of the company's stock, valued at $9,747,699.20. The trade was a 1.39% 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 sold 163,650 shares of company stock valued at $138,616,274 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

About Seagate Technology

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.

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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