Seagate Technology Holdings PLC $STX Stake Lowered by Atlatl Advisers LLC

Atlatl Advisers LLC trimmed its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 16.6% during the third quarter, Holdings Channel reports. The firm owned 6,635 shares of the data storage provider’s stock after selling 1,316 shares during the quarter. Seagate Technology comprises approximately 1.5% of Atlatl Advisers LLC’s holdings, making the stock its 17th biggest position. Atlatl Advisers LLC’s holdings in Seagate Technology were worth $6,120,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MBL Wealth LLC boosted its stake in shares of Seagate Technology by 131.2% during the 3rd quarter. MBL Wealth LLC now owns 1,829 shares of the data storage provider’s stock worth $1,687,000 after purchasing an additional 1,038 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Seagate Technology by 6.6% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,143 shares of the data storage provider’s stock worth $2,899,000 after purchasing an additional 195 shares during the period. Root Financial Partners LLC grew its holdings in shares of Seagate Technology by 20.2% during the 3rd quarter. Root Financial Partners LLC now owns 1,114 shares of the data storage provider’s stock worth $1,028,000 after purchasing an additional 187 shares during the period. Reyes Financial Architecture Inc. acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $123,000. Finally, Lmcg Investments LLC acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $277,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on STX shares. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. TD Cowen raised their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Argus boosted 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. Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Finally, Bank of America increased their price objective on shares of Seagate Technology from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $975.92.

Trending Headlines about Seagate Technology

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.

Seagate Technology Stock Down 1.8%

Shares of NASDAQ:STX opened at $630.49 on Friday. The firm has a market cap of $143.37 billion, a PE ratio of 45.42 and a beta of 2.06. The company has a fifty day simple moving average of $820.59 and a 200 day simple moving average of $810.34. 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 $217.67 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS 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 net margin of 26.11% and a return on equity of 369.98%. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 35.79 EPS 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 dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis 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%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Teh sold 52,730 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 466,959 shares of company stock worth $378,840,741. 0.51% of the stock is currently owned by corporate insiders.

About Seagate Technology

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.