Seagate Technology Holdings PLC $STX Stock Sold by Artemis Investment Management LLP

Key Points

• Artemis Investment Management reduced its Seagate stake by 2.6%, selling 2,869 shares and retaining 109,550 shares valued at approximately $101 million. Institutional investors and hedge funds collectively own 92.87% of STX.
• Seagate reported quarterly revenue of $3.63 billion, up 48.5% year over year, while EPS of $5.71 exceeded analysts’ $5.10 estimate. The company also declared a quarterly dividend of $0.74 per share, yielding approximately 0.4%.
• Insiders sold 466,959 shares worth about $378.8 million over the past 90 days, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $986.

Artemis Investment Management LLP cut its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,550 shares of the data storage provider's stock after selling 2,869 shares during the quarter. Artemis Investment Management LLP's holdings in Seagate Technology were worth $101,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in STX. Apella Capital LLC grew its stake in shares of Seagate Technology by 14.9% in the third quarter. Apella Capital LLC now owns 564 shares of the data storage provider's stock worth $520,000 after acquiring an additional 73 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Seagate Technology by 1.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 5,058 shares of the data storage provider's stock valued at $4,665,000 after purchasing an additional 49 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Seagate Technology by 4.8% in the third quarter. Valeo Financial Advisors LLC now owns 2,132 shares of the data storage provider's stock valued at $1,966,000 after acquiring an additional 97 shares during the period. Venture Visionary Partners LLC increased its position in shares of Seagate Technology by 90.6% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,799 shares of the data storage provider's stock worth $1,660,000 after purchasing an additional 855 shares in the last quarter. Finally, Retirement Wealth Solutions LLC raised its stake in shares of Seagate Technology by 44.8% in the third quarter. Retirement Wealth Solutions LLC now owns 42 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 13 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

STX traded down $31.12 during trading on Thursday, hitting $776.45. The stock had a trading volume of 2,282,041 shares, compared to its average volume of 4,362,964. 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 50 day moving average price of $858.09 and a 200-day moving average price of $788.17. Seagate Technology Holdings PLC has a one year low of $209.00 and a one year high of $1,145.00. The firm has a market cap of $176.56 billion, a price-to-earnings ratio of 55.70 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm earned $2.59 earnings per share. The company's revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

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

Insider Activity

In other Seagate Technology news, EVP John Morris sold 9,354 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $877.91, for a total value of $8,211,970.14. Following the transaction, the executive vice president directly owned 22,693 shares of the company's stock, valued at $19,922,411.63. This trade represents a 29.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of the business'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 completion of the transaction, the executive vice president owned 5,810 shares of the company's stock, valued at $4,543,884.80. The trade was a 90.08% 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 ninety days, insiders have sold 466,959 shares of company stock valued at $378,840,741. Corporate insiders own 0.51% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on STX. Fox Advisors lowered shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,300.00 price target on shares of Seagate Technology in a research note on Wednesday, July 29th. Argus boosted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, China Renaissance increased their price target on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus price target of $986.00.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: AI workloads continue to generate substantial demand for economical, high-capacity storage, supporting the case for an HDD upcycle. Analysts comparing Seagate with Western Digital view data-center and AI storage growth as a potential long-term catalyst. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Seagate recently delivered better-than-expected quarterly results, with revenue up 48.5% year over year and EPS exceeding consensus estimates. Its dividend payment also reinforces the company’s shareholder-return appeal, although income is not the primary driver of today’s trading. HP, Merck, and Seagate Just Paid Their Shareholders
• Neutral Sentiment: Investors are also looking ahead to Seagate’s next quarterly report and guidance for evidence that elevated AI-related storage demand can justify the stock’s high valuation. What to Expect From Seagate Technology’s Next Quarterly Earnings Report
• Negative Sentiment: Toshiba’s reported plan to expand AI-focused HDD production has intensified fears of additional industry supply and price competition. That development is the main catalyst behind the recent sell-off in Seagate and other HDD stocks. Toshiba Just Issued a Major Warning to Seagate Stock
• Negative Sentiment: Reports that Seagate and Toshiba are competing to acquire TDK’s magnetic-head business add uncertainty. Investors may view the bidding activity as a sign of intensifying competition for a strategically important HDD component. Seagate and Western Digital Stocks Are Falling Again
• Negative Sentiment: Weak preliminary results from Samsung have cooled the broader memory trade, encouraging profit-taking in high-flying AI-related semiconductor and storage stocks. Seagate’s elevated valuation makes it particularly sensitive to changes in sector sentiment. The Memory Trade Cools After Samsung’s Preliminary Results Disappoint

Seagate Technology Company Profile

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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