SteelPeak Wealth LLC Sells 5,136 Shares of Seagate Technology Holdings PLC $STX

Key Points

• SteelPeak Wealth LLC cut its Seagate Technology stake by 44.2% in the first quarter, selling 5,136 shares and leaving it with 6,489 shares worth about $2.55 million.
• Seagate reported better-than-expected earnings for the latest quarter, with EPS of $4.10 and revenue of $3.11 billion, both ahead of analyst estimates. The company also said quarterly revenue rose 44.1% year over year and raised its Q4 2026 EPS guidance.
• Despite strong fundamentals and bullish analyst coverage, insider selling has been notable, with executives selling more than 151,000 shares over the past three months, while the stock was also trading up 5.7% on the day reported.

SteelPeak Wealth LLC lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 44.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,489 shares of the data storage provider's stock after selling 5,136 shares during the quarter. SteelPeak Wealth LLC's holdings in Seagate Technology were worth $2,547,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Salomon & Ludwin LLC increased its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after buying an additional 51 shares during the period. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth boosted its stake in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners bought a new position in Seagate Technology during the 4th quarter worth $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares of the company's stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. The trade was a 68.44% 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. In the last three months, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by insiders.

Seagate Technology Trading Up 5.7%

STX opened at $787.66 on Friday. 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 current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a 50-day moving average of $887.01 and a 200 day moving average of $589.45. The firm has a market cap of $176.62 billion, a P/E ratio of 74.73 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 1,005.65% and a net margin of 21.60%.The company's quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Argus increased their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Loop Capital raised their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Finally, Zacks Research downgraded shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $898.52.

Seagate Technology News Summary

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

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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