Seagate Technology Holdings PLC $STX Stock Position Lessened by Brookstone Capital Management

Key Points

• Brookstone Capital Management cut its Seagate position by 48% in the third quarter, selling 8,235 shares and retaining 8,915 shares worth approximately $8.2 million. Institutional investors and hedge funds still own 92.87% of the company.
• Analyst sentiment remains positive, with 22 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and a $975.92 target price. Analysts cite rising AI, cloud and data-center storage demand as key growth drivers.
• Seagate recently exceeded quarterly earnings and revenue expectations, while executives sold significant shares under pre-arranged trading plans. The stock trades at about 43 times earnings, highlighting valuation risk despite the favorable outlook.

Brookstone Capital Management reduced its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 48.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,915 shares of the data storage provider's stock after selling 8,235 shares during the period. Brookstone Capital Management's holdings in Seagate Technology were worth $8,222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC grew its position in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after acquiring an additional 12 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Seagate Technology during the 2nd quarter valued at $39,000. One River Asset Management LLC raised its position in Seagate Technology by 50.0% in the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider's stock valued at $42,000 after purchasing an additional 15 shares during the last quarter. Trust Co. of Vermont bought a new position in Seagate Technology in the 2nd quarter valued at $54,000. Finally, Triumph Capital Management raised its position in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider's stock valued at $58,000 after purchasing an additional 29 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on STX. JPMorgan Chase & Co. increased their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Citigroup raised their target price on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Wells Fargo & Company cut their price target on Seagate Technology from $1,180.00 to $865.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Susquehanna upped their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $1,300.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $975.92.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Polen Capital identified Seagate as a beneficiary of rising artificial-intelligence data-storage demand. Growing AI workloads, cloud activity and enterprise data volumes are supporting demand for high-capacity nearline hard drives. Seagate Technology Holdings plc Stands to Benefit From Rising AI Data Storage Demand
• Positive Sentiment: Analyst sentiment has strengthened, with J.P. Morgan issuing a Buy rating and reports highlighting positive updates from Bank of America and Morgan Stanley. Zacks also added STX to its Rank #1, or Strong Buy, list. Seagate Tech Gets a Buy from J.P. Morgan
• Positive Sentiment: Recent research points to strong hard-drive demand from data centers and cloud providers, improving pricing power, capacity tightness and a robust enterprise-storage pipeline. These factors have driven higher earnings expectations and several analyst upgrades. Learn Why the Bull Case for Seagate Could Change Following Analyst Upgrades
• Neutral Sentiment: Seagate’s Q1 fiscal 2027 earnings preview remains favorable, with management’s outlook supported by healthy storage demand and pricing. Investors are likely focused on whether the company can meet or exceed its guidance of $7.10–$7.50 in EPS. STX Stock Earnings Preview
• Negative Sentiment: Despite the constructive outlook, STX has decreased in the latest market update, possibly reflecting profit-taking, elevated valuation concerns and technical weakness after its recent advance. At roughly 45 times earnings, the shares leave less room for an earnings or guidance disappointment.

Insider Buying and Selling

In related news, EVP John Morris sold 9,354 shares of the company's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14. Following the completion of the sale, the executive vice president owned 22,693 shares in the company, valued at approximately $19,922,411.63. This represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president owned 5,810 shares of the company's stock, valued at $4,543,884.80. This represents a 90.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 466,959 shares of company stock valued at $378,840,741 in the last three months. 0.51% of the stock is currently owned by company insiders.

Seagate Technology Trading Down 1.8%

STX opened at $630.49 on Friday. The firm has a 50 day simple moving average of $820.59 and a 200 day simple moving average of $810.34. Seagate Technology Holdings PLC has a fifty-two week low of $217.67 and a fifty-two week high of $1,145.00. The company has a market cap of $143.37 billion, a price-to-earnings ratio of 43.36 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business's revenue for the quarter was up 48.5% on a year-over-year basis. During the same period last year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.79 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, September 24th. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

About Seagate Technology

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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