Hanson & Doremus Investment Management Sells 1,603 Shares of Seagate Technology Holdings PLC $STX

Hanson & Doremus Investment Management trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,885 shares of the data storage provider’s stock after selling 1,603 shares during the period. Seagate Technology comprises approximately 2.8% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 8th biggest position. Hanson & Doremus Investment Management’s holdings in Seagate Technology were worth $27,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Aspiriant LLC raised its holdings in Seagate Technology by 13.0% during the third quarter. Aspiriant LLC now owns 677 shares of the data storage provider’s stock valued at $624,000 after buying an additional 78 shares in the last quarter. Perryman Financial Advisory Inc. AD increased its stake in Seagate Technology by 79.0% in the third quarter. Perryman Financial Advisory Inc. AD now owns 931 shares of the data storage provider’s stock valued at $859,000 after acquiring an additional 411 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in Seagate Technology during the third quarter worth $993,000. Goldstein Advisors LLC bought a new position in shares of Seagate Technology in the third quarter valued at about $369,000. Finally, NFSG Corp boosted its position in Seagate Technology by 58,328.6% in the 3rd quarter. NFSG Corp now owns 4,090 shares of the data storage provider’s stock valued at $3,772,000 after buying an additional 4,083 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Seagate Technology

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

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Argus raised their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Wedbush raised their target price on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Barclays boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and five 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 price target of $973.40.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the firm’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 completion of the sale, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This trade 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 is available at this hyperlink. 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 stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 466,959 shares of company stock worth $378,840,741. 0.51% of the stock is owned by corporate insiders.

Seagate Technology Stock Performance

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

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the firm posted $2.59 EPS. The business’s revenue for the quarter 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. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 35.70 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were given a $0.74 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.5%. Seagate Technology’s payout ratio is 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.