Seagate Technology Holdings PLC $STX Shares Sold by Hollencrest Capital Management

Key Points

• Hollencrest Capital Management cut its Seagate Technology stake by 81.5% in Q1, leaving it with 846 shares valued at about $331,000.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion rising 44.1% year over year; it also issued Q4 2026 guidance of $4.80-$5.20 EPS.
• Wall Street remains bullish on STX, with analysts giving it a Moderate Buy consensus and an average price target of $898.52, even after several insiders sold shares recently.

Hollencrest Capital Management lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 81.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846 shares of the data storage provider's stock after selling 3,718 shares during the period. Hollencrest Capital Management's holdings in Seagate Technology were worth $331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STX. Balefire LLC acquired a new position in Seagate Technology during the first quarter worth approximately $281,000. Parallel Advisors LLC lifted its holdings in Seagate Technology by 11.1% in the 1st quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider's stock worth $1,706,000 after buying an additional 435 shares in the last quarter. Ironwood Investment Counsel LLC purchased a new position in Seagate Technology in the first quarter valued at about $241,000. AlphaCentric Advisors LLC acquired a new stake in Seagate Technology during the 1st quarter valued at approximately $68,000. Finally, SEB Asset Management AB acquired a new stake in Seagate Technology during the 1st quarter valued at approximately $22,754,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Seagate Technology stock opened at $802.45 on Tuesday. Seagate Technology Holdings PLC has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The firm's 50 day simple moving average is $886.38 and its 200-day simple moving average is $595.30. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company has a market cap of $179.93 billion, a P/E ratio of 76.13 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm posted $1.90 EPS. The business's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.74 per share. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. China Renaissance upped their price objective on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Argus lifted their price objective on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company upgraded shares of Seagate Technology from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $900.00 to $1,100.00 in a research note on Friday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Finally, Wedbush lifted their target price on Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, April 27th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $898.52.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 903 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at $37,724,943.40. The trade was a 2.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Christopher Morris sold 1,364 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the transaction, the executive vice president directly owned 12,088 shares of the company's stock, valued at $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company's stock.

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.

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