Seagate Technology Holdings PLC $STX Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 1.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 545,689 shares of the data storage provider’s stock after selling 10,689 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Seagate Technology were worth $503,311,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Retirement Wealth Solutions LLC increased its position in shares of Seagate Technology by 70.6% in the second 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 last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in 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 worth $31,000 after acquiring an additional 15 shares in the last quarter. WealthCollab LLC raised its holdings in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Seagate Technology during the first quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp acquired a new position in Seagate Technology during the second quarter valued at approximately $39,000. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Teh sold 52,730 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This represents a 90.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 70,756 shares in the company, valued at approximately $54,634,952.96. This 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. Insiders sold a total of 466,812 shares of company stock worth $378,583,042 in the last 90 days. Company insiders own 0.51% of the company’s stock.

Seagate Technology Stock Down 8.0%

Seagate Technology stock opened at $644.58 on Friday. The company’s 50-day moving average price is $799.09 and its two-hundred day moving average price is $688.41. The company has a quick ratio of 1.17, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. The stock has a market cap of $146.57 billion, a P/E ratio of 33.85 and a beta of 2.06. Seagate Technology Holdings PLC has a twelve month low of $228.61 and a twelve month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the company posted $2.61 earnings per share. The business’s revenue was up 61.0% on a year-over-year basis. As a group, analysts expect that Seagate Technology Holdings PLC will post 37.44 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio is 15.55%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STX. Citigroup decreased their price target on Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Weiss Ratings upgraded Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Robert W. Baird set a $1,350.00 price objective on Seagate Technology in a research note on Wednesday. Finally, Barclays increased their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,000.88.

Key Seagate Technology News

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

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.