CoreCap Advisors LLC Buys 5,758 Shares of Seagate Technology Holdings PLC $STX

CoreCap Advisors LLC raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 391.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,230 shares of the data storage provider’s stock after purchasing an additional 5,758 shares during the period. CoreCap Advisors LLC’s holdings in Seagate Technology were worth $6,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Avion Wealth raised its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares in the last quarter. Concord Wealth Partners purchased a new stake in Seagate Technology during the fourth quarter valued at approximately $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

STX has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. China Renaissance upped their target price on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Wall Street Zen raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Evercore boosted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual level of visibility for a cyclical storage company. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
• Positive Sentiment: Seagate’s fundamentals remain strong. The company recently reported quarterly EPS of $5.71, exceeding the $5.10 analyst consensus, while revenue reached $3.63 billion versus expectations of $3.50 billion. Revenue rose 48.5% year over year, and management issued quarterly EPS guidance of $7.10 to $7.50. 5 Momentum Stocks to Buy for August Despite a Mixed July
• Positive Sentiment: Seagate remains a favored momentum stock. Analysts continue to point to AI infrastructure spending, earnings growth and financial strength as reasons to consider STX among August’s momentum opportunities. Zacks 5 Momentum Stocks to Buy
• Neutral Sentiment: Insiders reported several planned sales. CEO William D. Mosley sold 30,000 shares for approximately $24.5 million across two transactions, while EVP John Christopher Morris sold 168 shares. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as indicators of management’s current outlook. Seagate CEO Form 4 Filing
• Negative Sentiment: Sector-wide selling is pressuring STX. Seagate fell alongside Western Digital, Micron and other memory stocks as investors took profits and reassessed cyclical demand and elevated valuations. STX’s beta of 2.06 and valuation near 60 times earnings point to heightened sensitivity to sector sentiment. Seagate and Western Digital Dive as Memory Stocks Cool

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP James Ci Lee sold 694 shares of Seagate Technology stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the completion of the sale, the executive vice president directly owned 347 shares in the company, valued at approximately $304,475.15. The trade was a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares in the company, valued at $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,540 shares of company stock valued at $128,156,635 over the last quarter. Company insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $845.35 on Wednesday. The company has a market cap of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. 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 stock’s fifty day moving average price is $897.27 and its 200 day moving average price is $637.35. Seagate Technology Holdings PLC has a 1 year low of $144.75 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued 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. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 33.08 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

Seagate Technology Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.