JLB & Associates Inc. Acquires New Position in Seagate Technology Holdings PLC $STX

Key Points

• JLB & Associates initiated a new position in Seagate, buying 3,971 shares worth about $1.09 million in Q4.
• Seagate beat Q3 expectations (EPS $4.10 vs. $3.51, revenue $3.11B, +44% YoY) and drew multiple analyst price-target upgrades, leaving a consensus target of about $709 and an average rating of "Moderate Buy."
• There is growing headline risk despite heavy institutional ownership (92.87%): insiders sold 78,333 shares (~$34.4M) over the last three months, while insiders still own just 0.79% of the stock.

JLB & Associates Inc. bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 3,971 shares of the data storage provider's stock, valued at approximately $1,094,000.

A number of other large investors have also modified their holdings of STX. Gateway Investment Advisers LLC boosted its stake in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock valued at $385,000 after buying an additional 25 shares in the last quarter. Sovereign Financial Group Inc. raised its position in Seagate Technology by 3.2% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider's stock worth $293,000 after acquiring an additional 33 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Seagate Technology by 0.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider's stock valued at $1,500,000 after acquiring an additional 33 shares during the period. Mutual Advisors LLC lifted its holdings in Seagate Technology by 3.1% in the fourth quarter. Mutual Advisors LLC now owns 1,213 shares of the data storage provider's stock valued at $334,000 after acquiring an additional 36 shares during the period. Finally, West Family Investments Inc. boosted its position in shares of Seagate Technology by 2.7% during the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider's stock worth $337,000 after purchasing an additional 37 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STX shares. UBS Group increased their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. BNP Paribas Exane boosted their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Susquehanna increased their target price on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Finally, Citigroup boosted their price target on Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $709.13.

Seagate Technology Stock Down 2.5%

Shares of NASDAQ STX opened at $766.44 on Friday. The firm's 50-day moving average is $476.41 and its two-hundred day moving average is $369.68. The company has a market capitalization of $171.86 billion, a PE ratio of 72.72 and a beta of 1.98. Seagate Technology Holdings PLC has a 12-month low of $94.97 and a 12-month high of $792.01. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company's quarterly 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. Equities analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is 28.08%.

Insiders Place Their Bets

In related news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Ci Lee sold 697 shares of Seagate Technology stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the sale, the executive vice president owned 324 shares of the company's stock, valued at approximately $240,139.08. This represents a 68.27% 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. Over the last three months, insiders sold 78,333 shares of company stock valued at $34,426,485. Insiders own 0.79% of the company's stock.

Key Seagate Technology News

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

• Positive Sentiment: Q3 results materially beat expectations (≈$3.11B revenue, $4.10 EPS), management reiterated capital returns (dividend + buybacks) and set above‑street guidance, supporting the long‑term bull case. Seagate (STX) Is Up 22.2% After Strong Q3 Results And AI Storage Push Has The Bull Case Changed?
• Positive Sentiment: Seagate launched an AI‑focused storage suite (consumer & professional SKUs, Thunderbolt 5, up to 256TB), reinforcing its positioning for AI/data‑center content workflows and potential higher ASPs. Seagate’s New AI Storage Suite Meets Rapidly Rising STX Valuation
• Positive Sentiment: Major sell‑side houses raised targets and ratings (Morgan Stanley bumped its PT to $767 and flagged STX as a top pick), adding momentum and justifying a premium rerating. Morgan Stanley Calls Seagate Technology Holdings (STX) a “Top Pick”
• Positive Sentiment: Other analyst upgrades (Zacks, Goldman etc.) and institutional buying have supported investor conviction that Seagate will capture AI/data center demand. Seagate coverage and analyst notes
• Neutral Sentiment: Lead Independent Director Mike Cannon announced retirement effective Oct‑2026 — orderly governance change but not an immediate operational catalyst. Seagate Announces the Retirement of Michael R. Cannon, Lead Independent Director
• Neutral Sentiment: Seagate declared its quarterly dividend (annualized $2.96; modest yield) — supportive for income investors but limited as a catalyst given valuation move. Dividend and company profile
• Neutral Sentiment: Broader market risk appetite has improved (VIX lower), which helped the prior tech run but also encourages rotation and profit‑taking dynamics. CBOE VIX Slides Toward 17 as Oil Retreat and Tech Stock Surge Restore Risk Appetite
• Negative Sentiment: Multiple recent insider sales (EVP James Ci Lee sold 697 shares under a 10b5‑1 plan) have created headline risk and may amplify short‑term profit‑taking. Form 4 — James Ci Lee sale
• Negative Sentiment: EVP John Christopher Morris sold 5,626 shares (pre‑arranged 10b5‑1) — a larger disposition that attracts investor attention despite being planned. Form 4 — John Christopher Morris sale
• Negative Sentiment: Director Stephanie Tilenius sold 1,580 shares — multiple sales together increase short‑term headline risk even if compliant. Form 4 — Stephanie Tilenius sale

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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