Seagate Technology Holdings PLC $STX Shares Sold by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group California Inc. cut its Seagate Technology stake by 50.7% in the first quarter, leaving it with 2,766 shares worth about $1.08 million.
• Insider selling continued, with EVP Ban Seng Teh and CFO Gianluca Romano both selling shares in June; insiders sold 151,069 shares worth about $126.2 million over the last quarter.
• Analysts remain broadly positive on Seagate, with 22 Buy ratings and 5 Hold ratings, even though some firms recently mixed in target hikes and one downgrade; the consensus price target is $898.52.

Legacy Capital Group California Inc. trimmed its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 50.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,766 shares of the data storage provider's stock after selling 2,841 shares during the period. Legacy Capital Group California Inc.'s holdings in Seagate Technology were worth $1,084,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted 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 purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Seagate Technology during the 2nd quarter worth approximately $262,000. Cerity Partners LLC lifted its position in 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. boosted its holdings in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Seagate Technology by 0.4% in 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 during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 989 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares in the company, valued at $3,776,015.10. The trade was a 18.73% decrease in their position. The transaction 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, CFO Gianluca Romano sold 903 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STX has been the topic of a number of recent research reports. Loop Capital boosted their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Zacks Research downgraded shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Mizuho boosted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. TD Cowen raised their target price on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $898.52.

Seagate Technology Price Performance

Shares of STX opened at $860.66 on Tuesday. Seagate Technology Holdings PLC has a 12 month low of $138.30 and a 12 month high of $1,145.00. 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 stock has a fifty day moving average price of $884.34 and a 200 day moving average price of $576.82. The company has a market cap of $192.99 billion, a P/E ratio of 81.66 and a beta of 2.04.

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

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Citigroup raised Seagate’s price target to $1,240 from $1,150 and kept a buy rating, reinforcing a bullish view on the company’s upside. Article Title
• Positive Sentiment: Wells Fargo recently upgraded Seagate to Overweight, citing strong demand for high-capacity storage products tied to cloud and AI infrastructure spending. Article Title
• Neutral Sentiment: Seagate continues to be viewed as a beneficiary of AI and cloud storage growth, with commentary highlighting ongoing demand for higher-capacity drives and share repurchase support. Article Title
• Negative Sentiment: A broader selloff in AI and semiconductor stocks, led by SK hynix concerns, is weighing on memory-related names and dragging Seagate lower despite no company-specific earnings update. Article Title
• Negative Sentiment: Related reports show weakness across the memory-storage group, including Micron, SanDisk, and Western Digital, suggesting Seagate is being caught in a sector-wide reset in sentiment. Article Title

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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