Independent Financial Group LLC Makes New $3.12 Million Investment in Seagate Technology Holdings PLC $STX

Key Points

• Independent Financial Group LLC disclosed a new position in Seagate Technology, buying 7,955 shares valued at about $3.12 million in the first quarter. Several other hedge funds also added to or initiated stakes, and institutional ownership stands at 92.87%.
• Seagate reported a strong quarter, with EPS of $4.10 versus estimates of $3.51 and revenue of $3.11 billion, topping expectations and rising 44.1% year over year. The company also issued Q4 2026 EPS guidance of 4.8 to 5.2.
• Analysts remain broadly positive on STX, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus. At the same time, insiders have sold shares recently, including CEO William D. Mosley and CFO Gianluca Romano.

Independent Financial Group LLC acquired a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,955 shares of the data storage provider's stock, valued at approximately $3,116,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Seagate Technology in the 1st quarter valued at about $229,000. Wealthfront Advisers LLC lifted its position in Seagate Technology by 17.8% during the 1st quarter. Wealthfront Advisers LLC now owns 52,350 shares of the data storage provider's stock worth $20,509,000 after acquiring an additional 7,899 shares during the period. D.A. Davidson & CO. lifted its position in Seagate Technology by 3.4% during the 1st quarter. D.A. Davidson & CO. now owns 5,287 shares of the data storage provider's stock worth $2,071,000 after acquiring an additional 176 shares during the period. Sharpepoint LLC purchased a new position in shares of Seagate Technology in the 1st quarter valued at approximately $4,071,000. Finally, Beaumont Financial Advisors LLC grew its stake in shares of Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $787.66 on Friday. The firm has a market capitalization of $176.62 billion, a P/E ratio of 74.73 and a beta of 2.04. Seagate Technology Holdings PLC has a one year low of $138.30 and a one year high of $1,145.00. The company's fifty day moving average is $887.01 and its two-hundred day moving average is $589.45. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $1.90 EPS. The business's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research report on Monday, June 8th. Morgan Stanley upped their price objective on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an "overweight" rating in a research report on Monday, June 15th. Barclays lifted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Susquehanna boosted their price target on shares of Seagate Technology from $615.00 to $775.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Finally, Bank of America increased their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $898.52.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. This trade represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is currently owned by corporate insiders.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone's Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Seagate Technology Company 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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