Wedge Capital Management L L P NC Sells 64,226 Shares of Seagate Technology Holdings PLC $STX

Wedge Capital Management L L P NC reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 45.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 77,655 shares of the data storage provider’s stock after selling 64,226 shares during the period. Seagate Technology comprises approximately 1.2% of Wedge Capital Management L L P NC’s portfolio, making the stock its 18th biggest holding. Wedge Capital Management L L P NC’s holdings in Seagate Technology were worth $74,937,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STX. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Seagate Technology by 23.1% in the 1st 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 during the last quarter. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. WealthCollab LLC raised its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Seagate Technology during the first quarter valued at approximately $39,000. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. 92.87% of the stock is currently owned by institutional investors.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a 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 14,091 shares of Seagate Technology stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the sale, the chief financial officer owned 21,543 shares of the company’s stock, valued at $17,476,758.75. The trade was a 39.54% 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. Over the last ninety days, insiders have sold 164,292 shares of company stock worth $138,378,957. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STX shares. Susquehanna boosted their target price on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Barclays raised their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. 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 research report on Wednesday, July 29th. Finally, Wedbush increased 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 note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology News Summary

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

• Positive Sentiment: AI-related data-center expansion is driving demand for Seagate’s nearline mass-capacity hard drives. Reports highlight that capacity is largely allocated through 2027, while multi-year contracts and a supply-disciplined market could support pricing and margins. Seagate Technology: AI Runs On Disks Nobody Else Wants To Make
• Positive Sentiment: Seagate’s HAMR-based Mozaic platform and improving storage density are viewed as long-term competitive advantages. Analysts also point to strong data-center growth, long-term capacity agreements and the company’s build-to-order model as supporting future expansion. Seagate Technology Gains From AI Boom: Is Long-Term Growth Secured?
• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with earnings and revenue above consensus and revenue up 48.5% year over year. Management’s quarterly EPS outlook of $7.10 to $7.50 reinforces expectations for continued earnings momentum.
• Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day days-to-cover ratio. Because the data also showed an undefined percentage change, it provides little meaningful information about short-seller positioning.
• Negative Sentiment: CFO Gianluca Romano sold a combined 22,211 shares in three transactions worth approximately $17.8 million. The sales were executed under a pre-arranged Rule 10b5-1 plan, reducing their significance as a discretionary bearish signal, but they still represent a notable reduction in his direct ownership. SEC Insider Trading Filing
• Negative Sentiment: Commentary remains cautious about valuation after the substantial rally. While rising storage prices, stronger margins and AI demand support growth, the elevated earnings multiple leaves less room for execution or demand-related disappointments. Does STX Stock Still Have More Room to Run After Solid Q4 Earnings?

Seagate Technology Trading Up 2.4%

Shares of NASDAQ STX opened at $820.52 on Wednesday. Seagate Technology Holdings PLC has a fifty-two week low of $152.05 and a fifty-two week high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The company has a market cap of $185.97 billion, a price-to-earnings ratio of 59.12 and a beta of 2.06. The business’s 50 day moving average price is $890.19 and its 200-day moving average price is $654.82.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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. 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%.Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

About Seagate Technology

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.