Seagate Technology Holdings PLC $STX Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.4% in the third quarter, Holdings Channel.com reports. The firm owned 56,213 shares of the data storage provider’s stock after selling 9,480 shares during the quarter. 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 institutional investors have also recently modified their holdings of STX. Opal Wealth Advisors LLC boosted its stake in Seagate Technology by 17.0% in the third quarter. Opal Wealth Advisors LLC now owns 1,031 shares of the data storage provider’s stock worth $951,000 after buying an additional 150 shares in the last quarter. Rise Advisors LLC bought a new position in Seagate Technology during the third quarter valued at approximately $223,000. Aspiriant LLC grew its position in Seagate Technology by 13.0% during the third quarter. Aspiriant LLC now owns 677 shares of the data storage provider’s stock valued at $624,000 after acquiring an additional 78 shares during the last quarter. Perryman Financial Advisory Inc. AD raised its stake in shares of Seagate Technology by 79.0% during the third quarter. Perryman Financial Advisory Inc. AD now owns 931 shares of the data storage provider’s stock worth $859,000 after acquiring an additional 411 shares in the last quarter. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in shares of Seagate Technology during the third quarter worth approximately $993,000. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. Wall Street Zen upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price 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. Citigroup lifted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Wedbush boosted their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $973.40.

Seagate Technology News Roundup

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

Seagate Technology Trading Down 7.5%

STX traded down $51.80 on Friday, hitting $639.01. 6,094,005 shares of the company were exchanged, compared to its average volume of 4,900,824. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The firm has a fifty day simple moving average of $842.38 and a two-hundred day simple moving average of $801.46. The stock 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 12 month low of $209.00 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company posted $2.59 earnings per share. The business’s 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. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, September 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Insider Activity

In other Seagate Technology news, EVP John Morris sold 15,466 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 31,132 shares of the company’s stock, valued at $24,038,573.80. This represents a 33.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction 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 sale, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 466,959 shares of company stock valued at $378,840,741 in the last three months. Corporate insiders own 0.51% of the company’s stock.

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.