Seagate Technology Holdings PLC $STX Stock: Mather Group LLC. Decreases Stake

Key Points

• Mather Group LLC reduced its Seagate Technology stake by 19.1% in the third quarter, selling 1,739 shares and retaining 7,367 shares valued at approximately $6.8 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported strong quarterly results, with revenue up 48.5% year over year to $3.63 billion and EPS of $5.71, exceeding analyst expectations. Growth in AI- and cloud-related storage demand, along with high-capacity HAMR drives, supports the company’s outlook.
• Analyst sentiment remains favorable, with 22 Buy ratings and five Holds and an average price target of $986, although the stock faces elevated valuation, volatility, technology, supply-chain and broader AI-sector sell-off risks.

Mather Group LLC. lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,367 shares of the data storage provider's stock after selling 1,739 shares during the quarter. Mather Group LLC.'s holdings in Seagate Technology were worth $6,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC grew its position in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after buying an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 15 shares during the period. WealthCollab LLC lifted its position in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock valued at $36,000 after acquiring an additional 20 shares during the period. McMillan Office Inc. bought a new stake in Seagate Technology during the first quarter worth about $39,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Seagate Technology during the first quarter worth about $39,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate’s 44TB Mozaic 4 hard drives could support further gross-margin expansion. Higher storage density, improving production efficiency and strong cloud-provider demand may increase profitability as data-center storage needs grow. Can Seagate's 44TB Mozaic 4 Drives Lift Gross Margins Further?
• Positive Sentiment: Analysts see a potentially long runway from surging data-storage demand tied to artificial intelligence and cloud computing. Seagate’s recent results, including strong sales growth, expanded operating margins and higher free cash flow, contrast with the sector’s recent share-price weakness. Seagate Could Have a Long Runway as Data Storage Demand Explodes
• Positive Sentiment: Seagate’s HAMR-based, high-capacity drives—including currently available 44TB products and a longer-term 100TB roadmap—could help data centers store more information with fewer drives and lower operating costs. This supports a cautious bullish view of the stock. Seagate's Improving Earnings Support a Cautious Upside
• Neutral Sentiment: Seagate-specific coverage is focused on valuation and supply-chain concerns rather than a new earnings announcement. Investors are weighing the company’s strong operating outlook against elevated valuation risk and volatility.
• Negative Sentiment: A continuing technology and AI-stock sell-off is pressuring memory and storage shares. Broader concerns about competition, including potential Chinese supply, and a rival’s recent move have weakened sentiment across the hard-drive sector. AI Trade Takes Another Hit Thursday as Tech Sell-Off Continues

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $690.81 on Friday. The business has a fifty day moving average price of $845.85 and a 200-day moving average price of $802.60. 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 company has a market capitalization of $157.08 billion, a PE ratio of 49.77 and a beta of 2.06. Seagate Technology Holdings PLC has a 1-year low of $209.00 and a 1-year high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the business 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. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Activity

In other news, EVP John Morris sold 15,466 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the sale, the executive vice president owned 31,132 shares in the company, valued at $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares of the company's stock, valued at $4,543,884.80. This trade represents a 90.08% 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 sold a total of 466,959 shares of company stock valued at $378,840,741 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

STX has been the topic of a number of recent research reports. Bank of America upped their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Barclays lifted their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Fox Advisors lowered shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Weiss Ratings cut Seagate Technology from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 2nd. Finally, JPMorgan Chase & Co. upped their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $986.00.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.

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