TD Waterhouse Canada Inc. Sells 9,480 Shares of Seagate Technology Holdings PLC $STX

Key Points

• TD Waterhouse Canada reduced its Seagate Technology stake by 14.4%, selling 9,480 shares and retaining 56,213 shares valued at approximately $53.2 million. Institutional investors collectively own 92.87% of STX.
• Analysts maintain a generally positive outlook, with 22 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $973.40, despite some firms lowering or moderating their targets.
• Seagate reported stronger-than-expected quarterly results, posting $5.71 in EPS and $3.63 billion in revenue, while shares traded at $639.01. The company also pays a quarterly dividend of $0.74, although insiders sold approximately $378.8 million of stock over the past three months.

TD Waterhouse Canada Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,213 shares of the data storage provider's stock after selling 9,480 shares during the period. TD Waterhouse Canada Inc.'s holdings in Seagate Technology were worth $53,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of STX. Opal Wealth Advisors LLC lifted its stake in shares of Seagate Technology by 17.0% during the 3rd quarter. Opal Wealth Advisors LLC now owns 1,031 shares of the data storage provider's stock valued at $951,000 after buying an additional 150 shares in the last quarter. Rise Advisors LLC bought a new position in Seagate Technology in the 3rd quarter worth approximately $223,000. Aspiriant LLC boosted its holdings in Seagate Technology by 13.0% in the 3rd quarter. Aspiriant LLC now owns 677 shares of the data storage provider's stock worth $624,000 after buying an additional 78 shares during the period. Perryman Financial Advisory Inc. AD grew its stake in Seagate Technology by 79.0% in the 3rd quarter. Perryman Financial Advisory Inc. AD now owns 931 shares of the data storage provider's stock valued at $859,000 after buying an additional 411 shares in the last quarter. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in Seagate Technology in the 3rd quarter valued at approximately $993,000. Institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

STX has been the topic of a number of analyst reports. Argus boosted their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Wall Street Zen raised Seagate Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 26th. Melius Research began coverage on Seagate Technology in a report on Monday, June 29th. They issued a "buy" rating and a $1,600.00 price target for the company. Fox Advisors cut Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Finally, Susquehanna boosted their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $973.40.

Seagate Technology Price Performance

Shares of STX traded down $51.80 during mid-day trading on Friday, reaching $639.01. 6,094,005 shares of the stock traded hands, compared to its average volume of 4,900,824. The company has a market cap of $145.30 billion, a price-to-earnings ratio of 46.04 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. The firm has a fifty day moving average price of $842.38 and a 200 day moving average price of $801.46. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The firm's revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, September 24th. Seagate Technology's dividend payout ratio is currently 21.33%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the sale, the chief financial officer directly owned 70,756 shares in the company, valued at $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 business's stock in a transaction that occurred on Tuesday, September 15th. The stock was 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 directly owned 5,810 shares of the company's stock, valued at approximately $4,543,884.80. This 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. Over the last three months, insiders sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Wells Fargo lowered its price target to $865 from $1,180 but retained an “overweight” rating, implying substantial upside from current levels. The reduced target reflects a more cautious outlook, while the continued bullish rating suggests analysts believe market fears have become overdone. Seagate and Western Digital Stocks Have Tanked on Toshiba Fears. Wells Fargo Is Still Bullish.
• Positive Sentiment: Seagate’s 44TB Mozaic 4 drives could support further gross-margin expansion through higher storage density, improved cost efficiency and strong cloud-storage demand. This strengthens the potential earnings benefit from artificial-intelligence-related data growth. Can Seagate's 44TB Mozaic 4 Drives Lift Gross Margins Further?
• Positive Sentiment: Despite the sector selloff, commentary points to a potentially long runway for data-storage demand as cloud providers and AI systems require increasing capacity. Seagate Could Have a Long Runway as Data Storage Demand Explodes
• Neutral Sentiment: The Wells Fargo target reduction highlights greater uncertainty around industry pricing, competition and the pace of AI-related spending, even though the firm sees an attractive risk-reward profile.
• Negative Sentiment: Investors remain concerned that Toshiba-related developments and rising competition could pressure Seagate and Western Digital, while a broader technology and AI-trade selloff is adding to the sector’s volatility. These fears are the main drivers weighing on STX today. WDC, STX Stocks Headed For Third Straight Weekly Loss

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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