Wedge Capital Management L L P NC Reduces Stake in Seagate Technology Holdings PLC $STX

Wedge Capital Management L L P NC lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 45.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,655 shares of the data storage provider’s stock after selling 64,226 shares during the period. Seagate Technology comprises about 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 18th biggest holding. Wedge Capital Management L L P NC’s holdings in Seagate Technology were worth $74,937,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Taylor & Morgan Wealth Management LLC boosted its position in Seagate Technology by 8.8% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider’s stock worth $582,000 after purchasing an additional 49 shares during the last quarter. Nolet Wealth Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at about $293,000. Salvus Wealth Management LLC increased its position in shares of Seagate Technology by 5.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 3,615 shares of the data storage provider’s stock valued at $3,488,000 after purchasing an additional 201 shares during the last quarter. Spinnaker Investment Group LLC bought a new position in shares of Seagate Technology in the 2nd quarter worth approximately $212,000. Finally, Carolina Wealth Advisors LLC lifted its stake in shares of Seagate Technology by 40.4% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 146 shares of the data storage provider’s stock worth $141,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $820.52 on Wednesday. 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 Holdings PLC has a 12-month low of $152.05 and a 12-month high of $1,145.00. The stock has a 50-day moving average price of $890.19 and a 200 day moving average price of $654.82. The stock has a market capitalization of $185.97 billion, a P/E ratio of 59.12 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 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 analysts’ expectations 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 period in the previous year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Analyst Ratings Changes

Several brokerages recently issued reports on STX. Wedbush boosted their target price on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Bank of America lifted 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 research note on Wednesday, July 1st. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP James Ci Lee sold 694 shares of Seagate Technology stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total value of $608,950.30. Following the sale, the executive vice president directly owned 347 shares in the company, valued at approximately $304,475.15. The trade was a 66.67% decrease in their position. The sale 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 John Christopher Morris sold 168 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total transaction of $137,383.68. Following the completion of the sale, the executive vice president owned 11,920 shares in the company, valued at approximately $9,747,699.20. The trade was a 1.39% 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. In the last 90 days, insiders have sold 164,292 shares of company stock valued at $138,378,957. 0.79% of the stock is currently owned by insiders.

More Seagate Technology News

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

• Positive Sentiment: AI-related data-center expansion is driving demand for Seagate’s nearline mass-capacity hard drives. Reports highlight that capacity is largely allocated through 2027, while multi-year contracts and a supply-disciplined market could support pricing and margins. Seagate Technology: AI Runs On Disks Nobody Else Wants To Make
• Positive Sentiment: Seagate’s HAMR-based Mozaic platform and improving storage density are viewed as long-term competitive advantages. Analysts also point to strong data-center growth, long-term capacity agreements and the company’s build-to-order model as supporting future expansion. Seagate Technology Gains From AI Boom: Is Long-Term Growth Secured?
• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings and revenue above consensus and revenue up 48.5% year over year. Management’s quarterly EPS outlook of $7.10 to $7.50 reinforces expectations for continued earnings momentum.
• Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day days-to-cover ratio. Because the data also showed an undefined percentage change, it provides little meaningful information about short-seller positioning.
• Negative Sentiment: CFO Gianluca Romano sold a combined 22,211 shares in three transactions worth approximately $17.8 million. The sales were executed under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but they still represent a notable reduction in his direct ownership. SEC Insider Trading Filing
• Negative Sentiment: Commentary remains cautious about valuation after the substantial rally. While rising storage prices, stronger margins and AI demand support growth, the elevated earnings multiple leaves less room for execution or demand-related disappointments. Does STX Stock Still Have More Room to Run After Solid Q4 Earnings?

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.