Chapin Davis Inc. Lowers Stock Holdings in Seagate Technology Holdings PLC $STX

Chapin Davis Inc. cut its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,593 shares of the data storage provider’s stock after selling 902 shares during the quarter. Seagate Technology comprises approximately 4.7% of Chapin Davis Inc.’s holdings, making the stock its 2nd biggest position. Chapin Davis Inc.’s holdings in Seagate Technology were worth $23,605,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of 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 in the last quarter. UNICOM Systems Inc. raised its stake in Seagate Technology by 18.2% in the second quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock valued at $41,978,000 after purchasing an additional 6,700 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Seagate Technology during the 1st quarter worth $1,328,000. Financial Insights Inc. purchased a new position in Seagate Technology in the second quarter worth $706,000. Finally, Silverleafe Capital Partners LLC purchased a new position in Seagate Technology in the third quarter worth $820,000. Institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: AI workloads continue to generate substantial demand for cost-efficient, high-capacity storage, supporting the long-term outlook for Seagate’s enterprise HDD business. Analysts are also comparing Seagate favorably with Western Digital as investors assess which storage stock has more upside. Seagate vs. Western Digital: Which HDD Stock Has More Room to Run?
• Positive Sentiment: Seagate recently delivered stronger-than-expected results, with quarterly revenue rising sharply year over year and earnings exceeding analysts’ estimates. Its next-quarter guidance also points to continued profitability, although investors are now focused on whether supply changes could affect that trajectory.
• Positive Sentiment: The company paid a dividend to shareholders, reinforcing its income appeal and highlighting the potential for shareholder returns alongside its growth exposure. HP, Merck, and Seagate Just Paid Their Shareholders

Insider Activity

In related news, EVP John Morris sold 9,354 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14. Following the sale, the executive vice president directly owned 22,693 shares of the company’s stock, valued at $19,922,411.63. This trade represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their position. 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. In the last ninety days, insiders have sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STX. Wells Fargo & Company raised their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Susquehanna upped their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings downgraded Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Performance

Shares of STX stock opened at $774.83 on Friday. The company has a market capitalization of $176.19 billion, a P/E ratio of 55.82 and a beta of 2.06. Seagate Technology Holdings PLC has a fifty-two week low of $209.00 and a fifty-two 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 stock has a 50 day moving average price of $856.56 and a two-hundred day moving average price of $790.73.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. The firm’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. Analysts expect that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Seagate Technology Profile

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.