Seagate Technology Holdings PLC $STX Holdings Lowered by Beacon Bank & Trust

Beacon Bank & Trust reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 26.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,188 shares of the data storage provider’s stock after selling 1,164 shares during the period. Beacon Bank & Trust’s holdings in Seagate Technology were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. WealthCollab LLC raised its stake in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Seagate Technology in the first quarter valued at $39,000. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $28,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Down 4.7%

Seagate Technology stock opened at $812.76 on Friday. Seagate Technology Holdings PLC has a 52 week low of $148.56 and a 52 week high of $1,145.00. 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 market capitalization of $184.21 billion, a price-to-earnings ratio of 58.56 and a beta of 2.06. The company has a 50 day moving average price of $894.71 and a 200 day moving average price of $645.87.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $2.59 earnings per share. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 33.08 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders 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 payout ratio is 21.33%.

Insider Activity

In other news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. 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 ninety days, insiders have sold 149,638 shares of company stock worth $126,692,095. Company insiders own 0.79% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Analysts raised Seagate’s estimated fair value from $959.48 to $1,115.87, citing stronger hard-drive pricing power, AI-related storage demand, and improving expectations for margins and cash generation. Seagate stock fair value rises after analysts lift storage demand
• Positive Sentiment: Jim Cramer argued that Seagate’s recent earnings were not poor, reinforcing the view that the company remains a beneficiary of AI-related demand. Seagate previously exceeded quarterly earnings and revenue expectations and issued strong forward EPS guidance. Jim Cramer discusses Seagate earnings
• Neutral Sentiment: Seagate remains one of the growth stocks highlighted for August, with analysts pointing to continued AI-driven demand as a potential long-term opportunity. Top-ranked growth stocks for August
• Negative Sentiment: Western Digital’s earnings beat was overshadowed by guidance that failed to meet extremely high investor expectations. Because Seagate and Western Digital compete in hard-disk drives, the disappointment triggered broader selling across memory and storage stocks. Why Western Digital stock is sinking
• Negative Sentiment: Shares across the sector, including Seagate, Western Digital, Sandisk, Micron and SK Hynix, continued to weaken as investors questioned whether AI-related memory demand and pricing can sustain current valuations.
• Negative Sentiment: SK Hynix’s approval of roughly $38 billion for two new memory fabrication plants heightened concerns about future capacity expansion, capital spending and a possible oversupply cycle in 2027. SK Hynix approves new memory fabs

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STX shares. Rosenblatt Securities lifted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. UBS Group upped their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. BNP Paribas Exane raised their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Finally, TD Cowen boosted 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $986.00.

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.