Evansbrook LLC Makes New $892,000 Investment in Seagate Technology Holdings PLC $STX

Key Points

• Evansbrook LLC purchased 2,276 Seagate shares in the first quarter, worth approximately $892,000. Institutional investors collectively own 92.87% of the company.
• Seagate reported strong quarterly results, with adjusted EPS of $5.71 and revenue of $3.63 billion, beating estimates; revenue rose 48.5% year over year. Robust AI-related data-center demand and upbeat fiscal Q1 2027 guidance are supporting the growth outlook.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $986, though its elevated valuation and dependence on AI spending, HAMR adoption and data-center demand create downside risks.

Evansbrook LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,276 shares of the data storage provider's stock, valued at approximately $892,000.

Other hedge funds have also recently made changes to their positions in the company. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $23,882,000. New York State Teachers Retirement System increased its stake in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock valued at $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Praxis Investment Management Inc. raised its position in Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after purchasing an additional 2,389 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock worth $142,874,000 after purchasing an additional 6,028 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock worth $5,872,000 after purchasing an additional 8,358 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. Evercore increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. China Renaissance boosted their target price on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Morgan Stanley upped their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an "overweight" rating in a research note on Wednesday. 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. Finally, Wall Street Zen raised shares of Seagate Technology from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $986.00.

Seagate Technology Trading Up 0.5%

STX opened at $856.13 on Friday. The business has a 50 day simple moving average of $896.91 and a two-hundred day simple moving average of $627.82. The firm has a market capitalization of $191.97 billion, a price-to-earnings ratio of 61.68 and a beta of 2.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a one year low of $144.75 and a one year high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) 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 33.08 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. 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 currently 21.33%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 30,000 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares of the company's stock, valued at $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% 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. Insiders sold a total of 151,069 shares of company stock worth $126,191,753 over the last 90 days. 0.79% of the stock is currently owned by 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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