Seagate Technology Holdings PLC $STX Holdings Trimmed by XXI Wealth LLC

XXI Wealth LLC lowered its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 37.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,569 shares of the data storage provider’s stock after selling 936 shares during the period. XXI Wealth LLC’s holdings in Seagate Technology were worth $1,447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC grew its stake in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares in the last quarter. Bridgewater Advisors Inc. increased its position in Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after acquiring an additional 13 shares during the period. Baker Tilly Wealth Management LLC raised its stake in Seagate Technology by 4.6% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock worth $295,000 after purchasing an additional 14 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Finally, One River Asset Management LLC raised its stake in Seagate Technology by 50.0% in the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds 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: Polen Capital identified Seagate as a beneficiary of rising artificial-intelligence data-storage demand. Growing AI workloads, cloud activity and enterprise data volumes are supporting demand for high-capacity nearline hard drives. Seagate Technology Holdings plc Stands to Benefit From Rising AI Data Storage Demand
• Positive Sentiment: Analyst sentiment has strengthened, with J.P. Morgan issuing a Buy rating and reports highlighting positive updates from Bank of America and Morgan Stanley. Zacks also added STX to its Rank #1, or Strong Buy, list. Seagate Tech Gets a Buy from J.P. Morgan
• Positive Sentiment: Recent research points to strong hard-drive demand from data centers and cloud providers, improving pricing power, capacity tightness and a robust enterprise-storage pipeline. These factors have driven higher earnings expectations and several analyst upgrades. Learn Why the Bull Case for Seagate Could Change Following Analyst Upgrades
• Neutral Sentiment: Seagate’s Q1 fiscal 2027 earnings preview remains favorable, with management’s outlook supported by healthy storage demand and pricing. Investors are likely focused on whether the company can meet or exceed its guidance of $7.10–$7.50 in EPS. STX Stock Earnings Preview
• Negative Sentiment: Despite the constructive outlook, STX has decreased in the latest market update, possibly reflecting profit-taking, elevated valuation concerns and technical weakness after its recent advance. At roughly 45 times earnings, the shares leave less room for an earnings or guidance disappointment.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. TD Cowen raised their target price on shares of Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Susquehanna lifted their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Morgan Stanley boosted their price target on Seagate Technology from $1,187.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Argus increased their price target on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $975.92.

Insider Activity

In related news, EVP John Morris sold 15,466 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the sale, the executive vice president owned 31,132 shares in the company, valued at approximately $24,038,573.80. This trade represents a 33.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 466,959 shares of company stock valued at $378,840,741 over the last quarter. 0.51% of the stock is owned by corporate insiders.

Seagate Technology Price Performance

Shares of NASDAQ STX traded down $11.65 during mid-day trading on Friday, reaching $630.49. The company had a trading volume of 5,567,097 shares, compared to its average volume of 4,988,940. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology Holdings PLC has a one year low of $217.67 and a one year high of $1,145.00. The firm has a market cap of $143.37 billion, a price-to-earnings ratio of 45.42 and a beta of 2.06. The business’s 50-day simple moving average is $820.59 and its 200 day simple moving average is $810.34.

Seagate Technology (NASDAQ:STX) 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. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business posted $2.59 earnings per share. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 35.79 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Seagate Technology Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.