Verus Capital Partners LLC Sells 1,200 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Verus Capital Partners cut its Seagate stake by 31.2%, selling 1,200 shares and retaining 2,643 shares valued at approximately $1.04 million. Institutional investors collectively own 92.87% of STX.
• Seagate reported strong results and raised its outlook: quarterly EPS of $5.71 and revenue of $3.63 billion exceeded estimates, while revenue rose 48.5% year over year. AI-driven data-center demand and expanding high-capacity HDD technology are supporting growth.
• Investor enthusiasm is tempered by valuation and insider-selling risks. Analysts generally maintain bullish ratings, but Seagate trades at a premium following a major rally, while insiders sold roughly $126.2 million of stock over the past 90 days.

Verus Capital Partners LLC lowered its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,643 shares of the data storage provider's stock after selling 1,200 shares during the quarter. Verus Capital Partners LLC's holdings in Seagate Technology were worth $1,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in STX. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after buying an additional 15 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. WealthCollab LLC grew its holdings 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 buying an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Seagate Technology in the 1st quarter worth approximately $39,000. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the 4th quarter worth approximately $28,000. Institutional investors own 92.87% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company's stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $856.13 on Friday. The firm has a market cap of $191.97 billion, a PE ratio of 61.68 and a beta of 2.04. The firm's 50 day simple moving average is $896.91 and its 200-day simple moving average is $627.82. Seagate Technology Holdings PLC has a one year low of $144.75 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.85 and a current ratio of 1.67.

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, beating 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 firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. Seagate Technology's quarterly 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, equities analysts predict that Seagate Technology Holdings PLC will post 33.08 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology's dividend payout ratio is currently 21.33%.

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. Mizuho raised their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Melius Research assumed coverage on shares of Seagate Technology in a research note on Monday, June 29th. They set a "buy" rating and a $1,600.00 price target on the stock. Loop Capital increased their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Fox Advisors cut shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Company 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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