Seagate Technology Holdings PLC $STX Stake Cut by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,290 shares of the data storage provider’s stock after selling 7,205 shares during the quarter. Pacer Advisors Inc.’s holdings in Seagate Technology were worth $18,526,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in STX. Evansbrook LLC bought a new position in shares of Seagate Technology in the 1st quarter worth about $892,000. Parallel Advisors LLC grew its position in shares of Seagate Technology by 11.1% during the 1st quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider’s stock valued at $1,706,000 after buying an additional 435 shares during the last quarter. NewEdge Advisors LLC raised its stake in Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after acquiring an additional 10,190 shares during the period. Integrated Investment Consultants LLC acquired a new stake in Seagate Technology during the first quarter worth about $262,000. Finally, Cozad Asset Management Inc. lifted its holdings in Seagate Technology by 6.7% in the first quarter. Cozad Asset Management Inc. now owns 2,661 shares of the data storage provider’s stock worth $1,042,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 694 shares of Seagate Technology stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the sale, the executive vice president owned 347 shares in the company, valued at approximately $304,475.15. This represents a 66.67% 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. Insiders have sold 151,540 shares of company stock worth $128,156,635 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on STX. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. BNP Paribas Exane increased their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Susquehanna raised their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Melius Research began coverage on Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective for the company. Finally, Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Key Seagate Technology News

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

• Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual level of visibility for a cyclical storage company. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
• Positive Sentiment: Seagate’s fundamentals remain strong. The company recently reported quarterly EPS of $5.71, exceeding the $5.10 analyst consensus, while revenue reached $3.63 billion versus expectations of $3.50 billion. Revenue rose 48.5% year over year, and management issued quarterly EPS guidance of $7.10 to $7.50. 5 Momentum Stocks to Buy for August Despite a Mixed July
• Positive Sentiment: Seagate remains a favored momentum stock. Analysts continue to point to AI infrastructure spending, earnings growth and financial strength as reasons to consider STX among August’s momentum opportunities. Zacks 5 Momentum Stocks to Buy
• Neutral Sentiment: Insiders reported several planned sales. CEO William D. Mosley sold 30,000 shares for approximately $24.5 million across two transactions, while EVP John Christopher Morris sold 168 shares. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as indicators of management’s current outlook. Seagate CEO Form 4 Filing
• Negative Sentiment: Sector-wide selling is pressuring STX. Seagate fell alongside Western Digital, Micron and other memory stocks as investors took profits and reassessed cyclical demand and elevated valuations. STX’s beta of 2.06 and valuation near 60 times earnings point to heightened sensitivity to sector sentiment. Seagate and Western Digital Dive as Memory Stocks Cool

Seagate Technology Price Performance

NASDAQ STX opened at $845.35 on Wednesday. Seagate Technology Holdings PLC has a 52 week low of $144.75 and a 52 week high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock has a market cap of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. The company has a 50-day moving average price of $897.27 and a two-hundred day moving average price of $637.35.

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

Seagate Technology Announces Dividend

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

Seagate Technology Company 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.