Seagate Technology Holdings PLC $STX Shares Sold by Pinkerton Wealth LLC

Key Points

• Pinkerton Wealth LLC cut its Seagate Technology stake by 32.6% in the fourth quarter, selling 4,749 shares and leaving it with 9,839 shares worth about $2.71 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping forecasts, while revenue jumped 44.1% year over year.
• Despite recent volatility tied to capacity concerns and a broader memory-stock selloff, analysts remain mostly bullish, and Seagate recently raised its quarterly dividend to $0.74 per share.

Pinkerton Wealth LLC trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 32.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,839 shares of the data storage provider's stock after selling 4,749 shares during the period. Pinkerton Wealth LLC's holdings in Seagate Technology were worth $2,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of STX. WCM Investment Management LLC acquired a new stake in shares of Seagate Technology in the third quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership increased its position in Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Trivest Advisors Ltd acquired a new stake in Seagate Technology during the third quarter worth about $170,435,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Seagate Technology

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

• Negative Sentiment: Seagate shares came under pressure after the CEO warned about capacity constraints, sparking worries that demand could outstrip supply and temper near-term momentum. Seagate Leads Memory Stocks Lower Following Capacity Warning
• Negative Sentiment: Broader memory stocks, including Seagate, sold off as investors reacted to the executive warnings and took profits after a strong AI-driven rally. Memory Stocks Tumble After Seagate CEO Raises Eyebrows
• Neutral Sentiment: Some analysts remain constructive, arguing Seagate still has solid growth attributes and could benefit from AI-related storage demand over time. Here is Why Growth Investors Should Buy Seagate (STX) Now
• Neutral Sentiment: Stanley Druckenmiller’s Duquesne Family Office reportedly added Seagate among its AI memory “picks-and-shovels” holdings, which may support the longer-term bullish case for the stock. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
• Neutral Sentiment: Recent commentary framing the pullback as a potential buying opportunity suggests some investors view the selloff as overdone rather than a change in the long-term story. Seagate: The Golden Buying Opportunity Born From Panic

Seagate Technology Trading Up 2.4%

Shares of STX stock opened at $751.07 on Thursday. 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 firm has a market cap of $168.41 billion, a PE ratio of 71.26 and a beta of 1.98. The company has a 50-day moving average of $548.86 and a two-hundred day moving average of $404.73. Seagate Technology Holdings PLC has a 1-year low of $103.73 and a 1-year high of $841.31.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates 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 revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Insider Activity at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gianluca Romano sold 22,488 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their position. 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 a total of 118,283 shares of company stock valued at $65,989,618 over the last quarter. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on STX shares. Evercore raised their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Citigroup raised their price objective on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $733.71.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

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.