VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 122,179 Seagate Technology Holdings PLC $STX

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 122,179 shares of the data storage provider’s stock, valued at approximately $117,903,000. Seagate Technology accounts for 0.7% of VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings, making the stock its 24th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. California State Teachers Retirement System increased its holdings in shares of Seagate Technology by 102,975.8% in the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock worth $305,658,775,000 after purchasing an additional 316,437,552 shares during the period. Wellington Management Group LLP boosted its stake in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after buying an additional 2,326,538 shares during the period. Norges Bank purchased a new position in Seagate Technology during the fourth quarter worth about $498,363,000. Soroban Capital Partners LP increased its stake in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Seagate Technology by 3,872.1% in the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total value of $24,488,400.00. Following the sale, the chief executive officer directly owned 295,168 shares of the company’s stock, valued at approximately $240,939,735.04. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 9,076 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $849.35, for a total transaction of $7,708,700.60. Following the sale, the chief financial officer owned 22,997 shares of the company’s stock, valued at approximately $19,532,501.95. This represents a 28.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 191,765 shares of company stock worth $161,865,249 over the last three months. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STX. Rosenblatt Securities lifted their price target on 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 cut Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday. Wells Fargo & Company boosted their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on 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. Finally, TD Cowen increased their price target on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

STX opened at $849.28 on Monday. Seagate Technology Holdings PLC has a one year low of $183.02 and a one 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. The business has a 50 day simple moving average of $851.92 and a two-hundred day simple moving average of $711.74. The firm has a market capitalization of $192.49 billion, a price-to-earnings ratio of 61.19 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company posted $2.59 EPS. The company’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. Analysts predict that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 21.33%.

Key Seagate Technology News

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

• Positive Sentiment: A rally that began in NAND memory broadened across the storage complex, with Seagate benefiting alongside SK Hynix and other memory-linked companies. The strength suggests investors are increasing exposure to companies positioned to supply AI data centers and expanding storage capacity. SK Hynix Surges 7% as Memory Bid Widens Beyond NAND; Seagate Rallies 5%
• Positive Sentiment: The broader AI trade remained a leading market theme, supporting semiconductor and storage shares. Seagate’s recent results reinforce the bullish case: quarterly revenue rose 48.5% year over year to $3.63 billion, while EPS of $5.71 exceeded estimates and management guided to $7.10–$7.50 in fiscal first-quarter 2027 EPS. Memory, Other AI-Related Stocks Lead the Market’s Top Performers Friday
• Neutral Sentiment: Director Yolanda Lee Conyers sold 750 shares for approximately $611,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan. The sale is therefore a limited signal of changing insider sentiment.
• Negative Sentiment: CEO William Mosley separately sold 30,000 shares valued at approximately $24.5 million under a 10b5-1 plan. Although he retained a substantial stake, the sizable insider sale may weigh modestly on sentiment, particularly after STX’s strong run and elevated valuation.

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.