Trek Financial LLC Sells 4,681 Shares of Seagate Technology Holdings PLC $STX

Trek Financial LLC lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 95.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 247 shares of the data storage provider’s stock after selling 4,681 shares during the quarter. Trek Financial LLC’s holdings in Seagate Technology were worth $228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Freedom Investing LLC acquired a new stake in shares of Seagate Technology in the third quarter valued at about $918,000. Pinkerton Wealth LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at about $854,000. Hoey Investments Inc. lifted its stake in Seagate Technology by 6.8% in the 3rd quarter. Hoey Investments Inc. now owns 472 shares of the data storage provider’s stock worth $435,000 after purchasing an additional 30 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $183,464,000. Finally, ProShare Advisors LLC grew its position in shares of Seagate Technology by 3.9% in the third quarter. ProShare Advisors LLC now owns 265,185 shares of the data storage provider’s stock valued at $244,591,000 after purchasing an additional 9,954 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported a strong start to fiscal 2027: revenue rose 61% year over year, supported by AI-related demand, favorable pricing and greater adoption of its HAMR drives. The company also generated record cash flow. Seagate Revenue Soars 61% in Q1
• Positive Sentiment: Commentary suggests the selloff may overstate Seagate’s exposure to memory-price concerns: it has limited flash-memory exposure, and much of its drive supply is allocated under contracts through 2028. Seagate Sinks on Election and Memory-Price Worries
• Positive Sentiment: A reported $1.2 billion debt paydown, strong free cash flow and a higher dividend point to improved financial flexibility and increased shareholder returns. Seagate’s $1.2 Billion Debt Paydown
• Neutral Sentiment: CEO William D. Mosley and EVP John Morris disclosed share sales. The transactions were made under pre-arranged Rule 10b5-1 plans, which makes them less clearly a signal of a change in management’s outlook. Seagate Insider Sale
• Negative Sentiment: Investors broadly sold data-center and storage shares after the midterm elections, while concerns about memory prices weighed on the sector. Valuation worries may also leave STX vulnerable if growth expectations weaken.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Morris sold 2,675 shares of Seagate Technology stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $650.15, for a total transaction of $1,739,151.25. Following the transaction, the executive vice president owned 20,933 shares of the company’s stock, valued at $13,609,589.95. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 6,720 shares of Seagate Technology stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $622.82, for a total value of $4,185,350.40. Following the transaction, the chief executive officer directly owned 346,108 shares in the company, valued at approximately $215,562,984.56. This trade represents a 1.90% 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. In the last three months, insiders sold 469,319 shares of company stock worth $373,883,846. Corporate insiders own 0.51% of the company’s stock.

Seagate Technology Stock Down 8.1%

Shares of NASDAQ STX opened at $557.06 on Thursday. Seagate Technology Holdings PLC has a 12-month low of $228.61 and a 12-month high of $1,145.00. The business’s fifty day simple moving average is $784.91 and its 200-day simple moving average is $692.44. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68. The stock has a market cap of $127.88 billion, a P/E ratio of 29.26 and a beta of 2.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company earned $2.61 EPS. The company’s revenue for the quarter was up 61.0% on a year-over-year basis. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 37.96 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio is presently 15.97%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STX shares. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Cantor Fitzgerald reduced their price target on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Robert W. Baird set a $1,350.00 target price on Seagate Technology in a research note on Wednesday, October 28th. Morgan Stanley reduced their target price on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Finally, Rosenblatt Securities decreased their price target on Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Twenty-three investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.88.

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.