Baird Financial Group Inc. Boosts Stake in Seagate Technology Holdings PLC $STX

Baird Financial Group Inc. increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 44.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,117 shares of the data storage provider's stock after acquiring an additional 3,122 shares during the period. Baird Financial Group Inc.'s holdings in Seagate Technology were worth $9,763,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider's stock worth $8,637,000 after purchasing an additional 10,190 shares during the period. GLOBALT Investments LLC GA grew its holdings in shares of Seagate Technology by 820.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider's stock worth $2,688,000 after purchasing an additional 8,700 shares during the last quarter. Tredje AP fonden increased its stake in shares of Seagate Technology by 446.6% in the fourth quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider's stock worth $30,662,000 after buying an additional 90,968 shares during the period. USA Financial Formulas bought a new stake in Seagate Technology during the 1st quarter valued at $1,328,000. Finally, Profund Advisors LLC boosted its position in Seagate Technology by 458.6% during the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider's stock valued at $5,585,000 after buying an additional 16,651 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $830.17 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock has a fifty day simple moving average of $848.79 and a two-hundred day simple moving average of $727.69. Seagate Technology Holdings PLC has a 12-month low of $193.32 and a 12-month high of $1,145.00. The stock has a market capitalization of $188.77 billion, a price-to-earnings ratio of 59.81 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its 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 firm had revenue of $3.63 billion for 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 company's quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on STX. Argus increased their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Wedbush boosted their target price on Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Morgan Stanley upped their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Seagate Technology from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 6th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $986.00.

More Seagate Technology News

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

• Positive Sentiment: Analyst commentary remains constructive on Seagate’s fiscal 2027 prospects. Cloud-storage demand, growing AI workloads and the company’s HAMR technology are expected to support revenue growth exceeding fiscal 2026 levels. Can Seagate Sustain Its Strong Revenue Growth in Fiscal 2027?
• Positive Sentiment: Seagate’s recent earnings momentum and exposure to AI infrastructure continue to underpin the bullish case; the company previously exceeded quarterly EPS and revenue expectations and issued strong fiscal 2027 guidance.
• Neutral Sentiment: Management presented at the Goldman Sachs Communacopia + Technology Conference, giving investors additional commentary on the company’s strategy and demand outlook, but no major new financial catalyst was identified. Seagate Technology Holdings plc Presents at Goldman Sachs Communacopia + Technology Conference 2026
• Negative Sentiment: Storage and semiconductor stocks came under selling pressure following an AI algorithmic-efficiency breakthrough, raising concerns that improved efficiency could reduce the near-term intensity of infrastructure spending. Seagate Stock Drops Friday: What's Going On?
• Negative Sentiment: After roughly tripling during the year, Seagate stock is experiencing profit-taking as investors lock in gains. The pullback reflects elevated expectations and high valuation sensitivity across the storage group. Storage Stocks Slide as Profit Taking Follows Big Run
• Negative Sentiment: CEO William Mosley, CFO Gianluca Romano and executives John Morris and Ban Teh reported stock sales totaling about $4.7 million. The sales were relatively small compared with their remaining holdings, and Ban Teh’s transaction was executed under a pre-arranged Rule 10b5-1 plan, but the cluster of insider selling may add to short-term investor caution. SEC insider transaction filings

Insider Activity

In related news, EVP James Lee sold 9,013 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the completion of the sale, the executive vice president owned 347 shares of the company's stock, valued at $275,809.48. This trade represents a 96.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the completion of the transaction, the chief financial officer owned 21,543 shares of the company's stock, valued at $17,476,758.75. This represents a 39.54% 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. Insiders sold a total of 186,731 shares of company stock valued at $157,652,942 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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