Legal & General Group Plc Acquires 87,056 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Legal & General increased its stake in Seagate by 6.0%, buying 87,056 shares to hold 1,535,675 shares (about 0.72% of the company) valued at roughly $362.5 million.
• Seagate beat the quarter with EPS of $3.11 vs. $2.77 expected and revenue of $2.83 billion vs. $2.73 billion, reporting 21.5% year-over-year revenue growth and setting Q3 2026 EPS guidance of $3.20–$3.60.
• Insiders have been net sellers—89,051 shares worth about $34.4 million sold in the last 90 days (including EVP Kian Fatt Chong's sale of 5,846 shares)—while analysts maintain a Moderate Buy consensus with a $447.35 average target.

Legal & General Group Plc grew its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,535,675 shares of the data storage provider's stock after buying an additional 87,056 shares during the period. Legal & General Group Plc owned 0.72% of Seagate Technology worth $362,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $29,000. First Horizon Corp bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $33,000. Raiffeisen Bank International AG purchased a new position in shares of Seagate Technology during the third quarter valued at about $33,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider's stock valued at $35,000 after buying an additional 45 shares during the period. Institutional investors own 92.87% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the company'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 completion of the transaction, the director owned 223 shares in the company, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 89,051 shares of company stock valued at $34,430,409. Company insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on STX shares. 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 report on Wednesday, January 28th. Morgan Stanley upped their target price on Seagate Technology from $337.00 to $372.00 and gave the stock an "overweight" rating in a report on Thursday, January 22nd. Benchmark increased their target price on Seagate Technology from $255.00 to $325.00 and gave the stock a "buy" rating in a research report on Tuesday, December 16th. Jefferies Financial Group restated a "hold" rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Finally, UBS Group upped their price target on Seagate Technology from $385.00 to $440.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $447.35.

Seagate Technology Price Performance

Shares of STX opened at $385.97 on Thursday. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $459.84. The firm's 50-day simple moving average is $374.34 and its two-hundred day simple moving average is $288.33. The stock has a market cap of $84.17 billion, a PE ratio of 43.66, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61. 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 released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion during 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 business's revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology's payout ratio is 33.48%.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.