VMS Asset Management Limited Sells 11,620 Shares of Seagate Technology Holdings PLC $STX

VMS Asset Management Limited lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 65.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,251 shares of the data storage provider’s stock after selling 11,620 shares during the period. Seagate Technology accounts for about 2.3% of VMS Asset Management Limited’s investment portfolio, making the stock its 18th biggest holding. VMS Asset Management Limited’s holdings in Seagate Technology were worth $5,766,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Retirement Wealth Solutions LLC increased its position in Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Seagate Technology by 23.1% during the first 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 during the period. WealthCollab LLC increased its holdings in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Seagate Technology during the fourth quarter valued at $37,000. Finally, McMillan Office Inc. bought a new stake in shares of Seagate Technology during the first quarter valued at about $39,000. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In related news, 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 sale, the chief financial officer directly owned 70,756 shares in the company, valued at $54,634,952.96. The trade was a 41.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 business’s stock in a transaction that occurred 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 owned 5,810 shares in the company, valued at $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over 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 company insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Strong earnings and cash flow support the bull case. Seagate’s fiscal 2026 sales rose 34% to $12.2 billion, adjusted operating margins reached 36.5%, and free cash flow increased sharply. Its latest quarterly results also exceeded analyst expectations for revenue and earnings. Seagate’s Improving Earnings Support a Cautious Upside
• Positive Sentiment: AI-related data-center demand remains a potential catalyst. Seagate’s mass-capacity hard drives are positioned to benefit from the growth of AI-generated data. Its HAMR technology supports higher-capacity drives, including 44TB products, with substantially larger capacities planned over time. Seagate’s Improving Earnings Support a Cautious Upside
• Neutral Sentiment: The next major company-specific event is approaching. Seagate is scheduled to report fiscal first-quarter 2027 results after the market closes on October 27, followed by an investor conference call. Investors will look for evidence that demand, pricing, margins and supply conditions remain favorable. Seagate Technology to Report Fiscal First Quarter 2027 Financial Results
• Negative Sentiment: Supply-chain and China competition fears are driving the immediate weakness. Reports of technological advances in China, along with a selloff in memory stocks and declines among Asian chipmakers, have raised concerns that future storage and component supplies could become less constrained. Seagate and Western Digital Shares Plummet
• Negative Sentiment: Valuation and volatility amplify investor sensitivity. After a substantial multiyear rally, STX remains a high-beta stock trading at an elevated earnings multiple. A sharp recent pullback, despite analysts largely maintaining earnings estimates, reflects heightened concern that expectations may have outrun near-term fundamentals. Rapid Growth, High Volatility, and Near 50% Upside

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. Wall Street Zen raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. JPMorgan Chase & Co. increased their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Weiss Ratings cut shares of Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Citigroup boosted their price target 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, Fox Advisors downgraded shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Down 4.5%

Shares of STX stock opened at $713.54 on Thursday. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year 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 business’s fifty day moving average is $849.09 and its 200-day moving average is $800.42. The stock has a market cap of $162.25 billion, a PE ratio of 51.41 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results 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. The business had revenue of $3.63 billion during 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 company’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter last year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts expect that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

About Seagate Technology

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.