Seagate Technology Holdings PLC $STX Stock: Cyndeo Wealth Partners LLC Lowers Position

Cyndeo Wealth Partners LLC decreased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 52.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,668 shares of the data storage provider’s stock after selling 3,995 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Seagate Technology were worth $3,383,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in shares of Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares during the period. UNICOM Systems Inc. increased its position in Seagate Technology by 18.2% during the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after purchasing an additional 6,700 shares in the last quarter. USA Financial Formulas purchased a new position in Seagate Technology in the first quarter valued at approximately $1,328,000. Financial Insights Inc. purchased a new position in Seagate Technology in the second quarter valued at approximately $706,000. Finally, Silverleafe Capital Partners LLC purchased a new position in Seagate Technology in the third quarter valued at approximately $820,000. Hedge funds and other 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

Seagate Technology Stock Performance

Seagate Technology stock opened at $639.01 on Friday. The stock’s 50 day moving average price is $842.38 and its 200 day moving average price is $801.46. The firm has a market capitalization of $145.30 billion, a PE ratio of 46.04 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology Holdings PLC has a one year low of $209.00 and a one year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share 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 firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business earned $2.59 EPS. Seagate Technology’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. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal 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 given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Analysts Set New Price Targets

A number of brokerages have weighed in on STX. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Barclays raised their target price 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. Zacks Research lowered shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $973.40.

Insider Activity

In other news, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 466,959 shares of company stock valued at $378,840,741 over the last ninety days. 0.51% of the stock is owned by company insiders.

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.