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

Key Points

• Institutional buying increased sharply: California State Teachers Retirement System reported a significant increase in Seagate holdings, while several other major funds also expanded their positions. Institutional investors collectively own 92.87% of the company.
• Seagate posted strong quarterly results: Revenue rose 48.5% year over year to $3.63 billion, and EPS of $5.71 exceeded analysts’ $5.10 estimate. Management guided to fiscal Q1 2027 EPS of $7.10–$7.50.
• Analyst sentiment remains positive, but insiders sold shares: Analysts’ average rating is “Moderate Buy,” with a $986 price target, while executives sold shares under pre-arranged Rule 10b5-1 plans. Seagate also declared a $0.74 quarterly dividend, implying a 0.3% yield.

California State Teachers Retirement System lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 102,975.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,744,845 shares of the data storage provider's stock after acquiring an additional 316,437,552 shares during the period. Seagate Technology makes up 0.8% of California State Teachers Retirement System's portfolio, making the stock its 23rd biggest position. California State Teachers Retirement System owned about 139.75% of Seagate Technology worth $305,658,775,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock worth $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Norges Bank bought a new position in Seagate Technology during the 4th quarter valued at $498,363,000. Soroban Capital Partners LP boosted its stake in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after acquiring an additional 1,327,197 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Seagate Technology by 3,872.1% during 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 in the last quarter. Finally, Deutsche Bank AG grew its holdings in Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after acquiring an additional 807,962 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

NASDAQ 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 50-day simple moving average of $851.92 and a 200-day simple moving average of $711.74. 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 firm has a market capitalization of $192.49 billion, a PE ratio of 61.19 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts' consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 35.7 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 issued a dividend of $0.74 per share. The ex-dividend date of this dividend 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 21.33%.

Insider Buying and Selling at Seagate Technology

In related news, EVP James Lee sold 9,013 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the completion of the transaction, the executive vice president directly owned 347 shares in the company, valued at $275,809.48. This represents a 96.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William 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 completion of the sale, the chief executive officer directly owned 295,168 shares in the company, valued at $240,939,735.04. This represents a 9.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 191,765 shares of company stock worth $161,865,249. Corporate insiders own 0.79% of the company's stock.

Seagate Technology News Roundup

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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STX shares. Rosenblatt Securities upped their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Wedbush lifted their price target on Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Loop Capital boosted their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a report on Friday, May 15th. Susquehanna upped their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Finally, Fox Advisors downgraded Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $986.00.

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.

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