Sound Income Strategies LLC Sells 821 Shares of Seagate Technology Holdings PLC $STX

Sound Income Strategies LLC lessened its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 47.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 911 shares of the data storage provider’s stock after selling 821 shares during the period. Sound Income Strategies LLC’s holdings in Seagate Technology were worth $840,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Balefire LLC grew its position in shares of Seagate Technology by 10.0% during the 3rd quarter. Balefire LLC now owns 880 shares of the data storage provider’s stock valued at $812,000 after acquiring an additional 80 shares during the period. Bullock Wealth Management Group increased its stake in shares of Seagate Technology by 3.1% during the 3rd quarter. Bullock Wealth Management Group now owns 561 shares of the data storage provider’s stock worth $531,000 after purchasing an additional 17 shares during the last quarter. Riversedge Advisors LLC raised its holdings in shares of Seagate Technology by 18.4% in the 3rd quarter. Riversedge Advisors LLC now owns 727 shares of the data storage provider’s stock worth $671,000 after purchasing an additional 113 shares during the period. Wedmont Private Capital lifted its stake in Seagate Technology by 76.0% in the third quarter. Wedmont Private Capital now owns 1,667 shares of the data storage provider’s stock valued at $1,538,000 after purchasing an additional 720 shares during the last quarter. Finally, Athena Wealth Management LLC lifted its stake in Seagate Technology by 26.6% in the third quarter. Athena Wealth Management LLC now owns 1,579 shares of the data storage provider’s stock valued at $1,456,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Seagate’s AI-driven growth remains the primary bullish argument. Demand from data-center and AI infrastructure buildouts is supporting expectations for strong hard-drive sales, though investors are questioning whether that growth justifies the stock’s elevated valuation. Can Seagate’s AI-Driven Growth Justify Its Sky-High Expectations?
• Positive Sentiment: Commentary from Jim Cramer highlighted Seagate and Western Digital’s restrained capacity additions amid surging AI storage demand, suggesting disciplined supply could support pricing and margins. Seagate and Western Digital Capacity Strategy
• Neutral Sentiment: Seagate generated $3.1 billion in fiscal 2026 free cash flow, comfortably covering its $0.74 quarterly dividend. However, the annualized $2.96 payout represents only a modest yield at the recent share price, limiting the dividend’s appeal as an income catalyst. Seagate’s Dividend Has a Large Cash Cushion
• Neutral Sentiment: Investors are looking ahead to Seagate’s next quarterly earnings report for evidence that AI demand, revenue growth, and management guidance can support the stock’s high earnings expectations. What to Expect From Seagate Technology’s Next Quarterly Earnings Report
• Negative Sentiment: Reports involving a TDK unit bid and Toshiba’s expansion of AI hard-drive capacity raised concerns about additional competition and future industry supply, contributing to a sharp sell-off in STX. Seagate Down After TDK and Toshiba News
• Negative Sentiment: Disappointing preliminary results from Samsung cooled the broader memory and AI trade, creating negative sentiment for storage-related stocks even though Seagate’s business is focused on hard drives. The Memory Trade Cools After Samsung’s Results

Analysts Set New Price Targets

A number of research firms have issued reports on STX. TD Cowen raised their target price on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings cut Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Barclays upped their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Rosenblatt Securities boosted their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Up 1.1%

NASDAQ:STX opened at $783.00 on Friday. The company has a market cap of $178.05 billion, a P/E ratio of 56.41 and a beta of 2.06. The stock’s fifty day moving average price is $855.09 and its two-hundred day moving average price is $790.67. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last posted its quarterly 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 firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company earned $2.59 earnings per share. The business’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. As a group, analysts expect that Seagate Technology Holdings PLC will post 35.70 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were paid a $0.74 dividend. The ex-dividend date was Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is currently 21.33%.

Insider Buying and Selling

In other news, CEO William Mosley sold 97,889 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the completion of the transaction, the chief executive officer directly owned 378,108 shares in the company, valued at approximately $291,952,311.12. This trade represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. This represents a 90.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 466,959 shares of company stock worth $378,840,741 over the last quarter. 0.51% of the stock is owned by corporate insiders.

About Seagate Technology

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.