Greenland Capital Management LP Makes New Investment in Seagate Technology Holdings PLC $STX

Key Points

• Greenland Capital Management initiated a Seagate Technology position in the second quarter, purchasing 1,354 shares valued at approximately $1.3 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported strong quarterly results, with revenue up 48.5% year over year to $3.63 billion and EPS of $5.71 beating estimates of $5.10. Management guided to fiscal first-quarter 2027 EPS of $7.10–$7.50, supported by demand tied to AI data centers and storage expansion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $986, although recent insider selling—including the CEO’s $24.5 million sale under a pre-arranged trading plan—and the stock’s elevated valuation could weigh on sentiment.

Greenland Capital Management LP acquired a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,354 shares of the data storage provider's stock, valued at approximately $1,307,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock worth $2,587,535,000 after acquiring an additional 94,527 shares in the last quarter. Morgan Stanley increased its stake in shares of Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock worth $1,464,391,000 after buying an additional 258,151 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after purchasing an additional 243,551 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in 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 valued at $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $849.28 on Monday. The stock has a market cap of $192.49 billion, a price-to-earnings ratio of 61.19 and a beta of 2.06. 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 company's 50-day moving average price is $851.92 and its two-hundred day moving average price is $711.74. Seagate Technology Holdings PLC has a 52 week low of $183.02 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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. 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 firm's quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. 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 0.3%. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

Key Headlines Impacting Seagate Technology

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.

Analyst Upgrades and Downgrades

STX has been the topic of several research reports. Wells Fargo & Company upped their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Fox Advisors downgraded shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. JPMorgan Chase & Co. boosted their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Barclays increased their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $986.00.

Insider Activity

In related news, CEO William D. Mosley sold 30,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $240,939,735.04. This represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Lee sold 9,013 shares of the company'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 transaction, the executive vice president owned 347 shares in the company, valued at approximately $275,809.48. This represents a 96.29% decrease in their position. 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 quarter, insiders have sold 191,765 shares of company stock valued at $161,865,249. 0.79% of the stock is currently owned by company insiders.

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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