Pension & Wealth Management Advisors Inc. acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) in the 3rd quarter, HoldingsChannel reports. The firm acquired 1,077 shares of the data storage provider’s stock, valued at approximately $993,000.
A number of other large investors also recently modified their holdings of STX. Wellington Management Group LLP grew its holdings in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after buying an additional 2,326,538 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Amundi lifted its stake in Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares in the last quarter. National Pension Service lifted its stake in Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock valued at $805,490,000 after acquiring an additional 6,944 shares in the last quarter. Finally, Swedbank AB boosted its holdings in Seagate Technology by 67.6% during the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock worth $277,821,000 after acquiring an additional 285,949 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.
Insiders Place Their Bets
In related news, CEO William D. Mosley sold 11,002 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $935.60, for a total value of $10,293,471.20. Following the transaction, the chief executive officer directly owned 362,108 shares of the company’s stock, valued at approximately $338,788,244.80. The trade was a 2.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 9,354 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president owned 22,693 shares of the company’s stock, valued at approximately $19,922,411.63. The trade was a 29.19% 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. Over the last 90 days, insiders have sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is currently owned by company insiders.
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
Wall Street Analyst Weigh In
Several analysts have recently issued reports on STX shares. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Susquehanna boosted their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Bank of America boosted their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $973.40.
Read Our Latest Stock Analysis on Seagate Technology
Seagate Technology Stock Performance
Seagate Technology stock traded down $51.80 during mid-day trading on Friday, reaching $639.01. 6,094,005 shares of the company’s stock were exchanged, compared to its average volume of 4,900,824. The business’s fifty day simple moving average is $842.38 and its 200 day simple moving average is $801.46. The firm has a market capitalization of $145.30 billion, a PE ratio of 46.04 and a beta of 2.06. Seagate Technology Holdings PLC has a one year low of $209.00 and a one year high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The business’s revenue was up 48.5% on a year-over-year basis. During the same quarter in the previous 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 expect 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. Stockholders 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 dividend yield of 0.5%. The ex-dividend date was Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.
Seagate Technology 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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