California State Teachers Retirement System Raises Stock Position in Seagate Technology Holdings PLC $STX

California State Teachers Retirement System increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 328,233 shares of the data storage provider's stock after purchasing an additional 20,940 shares during the period. Seagate Technology makes up about 0.3% of California State Teachers Retirement System's investment portfolio, making the stock its 23rd largest position. California State Teachers Retirement System owned about 0.14% of Seagate Technology worth $316,744,845 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STX. Greenland Capital Management LP acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $1,307,000. Washington Trust Advisors Inc. boosted its stake in Seagate Technology by 712.5% in the second quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider's stock valued at $62,000 after acquiring an additional 57 shares during the period. Ameritas Advisory Services LLC boosted its stake in shares of Seagate Technology by 254.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 8,561 shares of the data storage provider's stock worth $8,262,000 after acquiring an additional 6,143 shares in the last quarter. Guardian Wealth Advisors LLC NC acquired a new position in Seagate Technology during the second quarter worth $240,000. Finally, Kintra Wealth LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at about $874,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: AI-driven HDD demand remains a major growth catalyst. Fidelity Investments identified Seagate as a primary beneficiary of rising demand for high-capacity hard disk drives used to store AI-generated data. The fund’s investment commentary supports the view that Seagate’s nearline and hyperscale businesses could continue benefiting from AI infrastructure expansion. Seagate Technology (STX): The Primary Beneficiary of the AI Driven HDD Demand
• Positive Sentiment: Industry research points to substantial long-term storage demand. Seagate’s survey found that 99% of organizations expect AI to increase their storage requirements, while only 38% believe they are fully prepared. The gap suggests potential future spending on storage hardware and infrastructure, supporting Seagate’s demand outlook. Global Seagate Research Finds Nearly All Organizations Expect AI to Increase Storage Requirements
• Positive Sentiment: Seagate appears to have moved early on next-generation storage. A comparison with Western Digital highlights Seagate’s shipments of HAMR drives under hyperscale contracts and strong demand for nearline capacity through 2027, reinforcing its competitive position in AI data-center storage. Seagate Vs. Western Digital: One Moved First on AI Storage Demand
• Neutral Sentiment: Edge IoT growth is encouraging but faces execution risks. Fiscal fourth-quarter Edge IoT revenue increased 20% year over year, although seasonality, SSD displacement and competition could limit the pace of further gains. Can Seagate Extend the Growth Momentum in Its Edge IoT Business?
• Negative Sentiment: Valuation and insider selling are weighing on sentiment. Despite strong AI-storage prospects and analyst target increases, Seagate’s CEO, CFO and CTO have reportedly sold shares. Separately, an executive sale worth approximately $493,000 may reinforce concerns that the stock’s valuation already reflects much of the expected upside. Seagate Has Real Upside Left
• Negative Sentiment: Broader AI-sector caution has pressured related stocks. Public calls from the leaders of Anthropic, OpenAI and SpaceX for a slower, more carefully monitored approach to frontier AI development raised concerns about the timing of AI infrastructure spending, indirectly affecting Seagate and other AI-linked companies. Seagate, Skyworks Solutions, Semtech, Nova, and FormFactor Shares Are Falling

Seagate Technology Trading Down 4.8%

NASDAQ:STX traded down $38.67 during trading hours on Tuesday, hitting $766.88. The stock had a trading volume of 2,705,850 shares, compared to its average volume of 4,328,337. Seagate Technology Holdings PLC has a one year low of $206.26 and a one year high of $1,145.00. The company has a market cap of $174.38 billion, a price-to-earnings ratio of 55.31 and a beta of 2.06. The business's 50 day moving average is $847.53 and its 200-day moving average is $730.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid 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 yield of 0.4%. Seagate Technology's payout ratio is 21.33%.

Insider Activity at Seagate Technology

In other news, CEO William Mosley sold 2,849 shares of Seagate Technology stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $862.13, for a total transaction of $2,456,208.37. Following the transaction, the chief executive officer directly owned 296,449 shares in the company, valued at approximately $255,577,576.37. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gianluca Romano sold 1,348 shares of Seagate Technology stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $862.13, for a total transaction of $1,162,151.24. Following the sale, the chief financial officer owned 28,930 shares in the company, valued at $24,941,420.90. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 186,731 shares of company stock worth $157,652,942 over the last quarter. 0.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STX has been the topic of several research analyst reports. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Morgan Stanley increased 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. JPMorgan Chase & Co. boosted their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Wedbush boosted their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, Rosenblatt Securities lifted their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a "buy" 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $986.00.

Seagate Technology Company Profile

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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