1,617 Shares in Seagate Technology Holdings PLC $STX Acquired by USA Financial Formulas

USA Financial Formulas purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,617 shares of the data storage provider’s stock, valued at approximately $1,491,000. Seagate Technology makes up about 0.3% of USA Financial Formulas’ holdings, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kintegral Advisory LLC grew its stake in shares of Seagate Technology by 0.6% in the third quarter. Kintegral Advisory LLC now owns 6,618 shares of the data storage provider’s stock worth $6,109,000 after acquiring an additional 37 shares during the last quarter. Mosley Wealth Management increased its holdings in shares of Seagate Technology by 2,133.3% during the third quarter. Mosley Wealth Management now owns 67 shares of the data storage provider’s stock valued at $62,000 after acquiring an additional 64 shares in the last quarter. Opal Wealth Advisors LLC increased its holdings in shares of Seagate Technology by 17.0% during the third quarter. Opal Wealth Advisors LLC now owns 1,031 shares of the data storage provider’s stock valued at $951,000 after acquiring an additional 150 shares in the last quarter. Rise Advisors LLC bought a new position in shares of Seagate Technology during the third quarter valued at $223,000. Finally, Aspiriant LLC increased its holdings in shares of 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 in the last quarter. Institutional investors own 92.87% of the company’s stock.

Key Seagate Technology News

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

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 9,354 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the transaction, the executive vice president owned 22,693 shares in the company, valued at $19,922,411.63. This represents a 29.19% 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. Over the last three months, insiders sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on STX shares. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Bank of America raised their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Barclays raised their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. 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 report on Wednesday, July 29th. Finally, Morgan Stanley lifted their target price on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $973.40.

Seagate Technology Stock Performance

Shares of STX opened at $639.01 on Friday. The business’s fifty day simple moving average is $842.38 and its two-hundred day simple moving average is $801.46. 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 $209.00 and a 12 month high of $1,145.00. The company has a market cap of $145.30 billion, a price-to-earnings ratio of 46.04 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping 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 business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company earned $2.59 EPS. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts anticipate 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. Investors of record on Thursday, September 24th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Seagate Technology Profile

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.