Choreo LLC Trims Stake in Seagate Technology Holdings PLC $STX

Key Points

• Choreo LLC reduced its stake in Seagate by 19.7% in Q4, selling 2,141 shares and retaining 8,716 shares worth about $2.44 million at the end of the period.
• Multiple analysts raised price targets and ratings — including Sanford Bernstein to $620 and JPMorgan initiating an overweight at $525 — with firms citing AI-driven data demand as a key tailwind; the consensus rating is "Moderate Buy" with a $491 target.
• Seagate beat estimates for the latest quarter with $3.11 EPS vs. $2.77 expected and $2.83B revenue, issued Q3 2026 EPS guidance of 3.200–3.600, and its shares have recently traded above $500.

Choreo LLC lowered its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,716 shares of the data storage provider's stock after selling 2,141 shares during the quarter. Choreo LLC's holdings in Seagate Technology were worth $2,441,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology in the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Seagate Technology in the fourth quarter worth about $37,000. First Horizon Corp bought a new stake in Seagate Technology in the third quarter worth about $33,000. Raiffeisen Bank International AG bought a new stake in Seagate Technology in the third quarter worth about $33,000. Finally, Physician Wealth Advisors Inc. lifted its stake in Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider's stock worth $35,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

STX has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 28th. Sanford C. Bernstein raised their price objective on shares of Seagate Technology from $500.00 to $620.00 and gave the stock an "outperform" rating in a research note on Thursday, April 9th. Barclays raised their price objective on shares of Seagate Technology from $370.00 to $425.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. initiated coverage on shares of Seagate Technology in a research note on Monday, March 30th. They issued an "overweight" rating and a $525.00 price objective for the company. Finally, BNP Paribas Exane raised their price objective on shares of Seagate Technology from $430.00 to $530.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $491.00.

Seagate Technology News Roundup

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

• Positive Sentiment: Citi raised its price target sharply and reiterated a Buy, signaling conviction that AI-driven data growth will support storage pricing and Seagate’s revenue mix. Citi raises Seagate target to $595
• Positive Sentiment: Citi’s upgrade was broadly reported and cited as a driver for higher trading today, as analysts point to AI data demand supercharging storage pricing for Seagate and peers. Citi Raises Seagate and Western Digital Targets
• Positive Sentiment: Multiple outlets reported recent analyst price‑target raises (to $485 and $565 in separate notes), reinforcing a positive analyst sentiment trend that supports the rally. Price Target Raised to $485
• Positive Sentiment: Roundhill’s new DRAM ETF story highlights surging AI memory demand and lists Seagate as a beneficiary of the broader memory/storage supercycle, a thematic tailwind for STX. This New ETF Aims to Capitalize on Surging AI Memory Chip Demand
• Positive Sentiment: Seagate agreed to sell its Lyve Cloud business to Wasabi and will take a Wasabi stake—market sees this as a strategic pivot to core mass‑capacity HDDs and HAMR/Mozaic platforms, simplifying operations and capital allocation. Seagate Sells Lyve Cloud To Wasabi
• Neutral Sentiment: An earnings preview lays out what to watch for in Seagate’s next report (demand trends, pricing, guidance), keeping investors focused on upcoming results as a potential catalyst. Here's what to expect from Seagate's next earnings report
• Negative Sentiment: Comparative coverage argues Western Digital (WDC) may be outperforming Seagate in the AI storage boom — highlighting valuation and capital returns where WDC can look more attractive, a competitive risk for STX sentiment. Seagate vs. Western Digital
• Negative Sentiment: Additional analyst pieces reiterate that Western Digital’s metrics (valuation, returns) slightly edge out Seagate, which could temper investor enthusiasm and limit upside. Seagate vs Western Digital (Zacks)

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $513.28 on Tuesday. The firm has a market cap of $111.93 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The firm's 50 day simple moving average is $413.84 and its 200-day simple moving average is $326.56. Seagate Technology Holdings PLC has a one year low of $71.29 and a one year high of $517.18. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.77 by $0.34. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.6%. Seagate Technology's dividend payout ratio (DPR) is 33.48%.

Insider Buying and Selling at Seagate Technology

In other news, EVP James Ci Lee sold 673 shares of the firm's stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares of the company's stock, valued at approximately $89,654.45. This trade represents a 72.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 925 shares of the firm's stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares in the company, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 112,223 shares of company stock valued at $46,711,217. 0.79% of the stock is owned by corporate insiders.

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.

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