New York State Teachers Retirement System Buys 8,991 Shares of Seagate Technology Holdings PLC $STX

Key Points

• New York State Teachers Retirement System increased its Seagate stake by 5.0%, buying 8,991 shares to hold 187,044 shares (about 0.09% of the company) worth roughly $51.51 million.
• Q3 earnings beat and AI-driven outlook—Seagate topped estimates (EPS $4.10 vs. $3.51; revenue $3.11B vs. $2.96B), the company raised guidance tied to AI data-center demand, and multiple firms sharply raised price targets, sending the stock higher.
• Warning signs remain: the stock trades at a rich P/E (~69) with analysts cautioning about capex-cycle risk after FY26/FY27, and insiders sold roughly 90,430 shares in the past three months.

New York State Teachers Retirement System grew its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,044 shares of the data storage provider's stock after purchasing an additional 8,991 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Seagate Technology worth $51,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after buying an additional 168 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth lifted its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology News Summary

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

• Positive Sentiment: Q3 earnings beat and AI-driven guidance—Seagate reported a big EPS/revenue beat and raised forward outlook, which investors interpret as confirmation that AI data-center spending is lifting demand for high-performance HDD and enterprise storage. Seagate stock surges after Q3 earnings — why the rally may continue
• Positive Sentiment: Large price-target upgrades—Sanford C. Bernstein lifted its PT to $1,000 (outperform) and Argus bumped its PT to $750 (buy), signaling strong sell‑side conviction that STX will benefit from the AI capex cycle. Bernstein adjusts Seagate price target to $1,000 Argus raises Seagate PT to $750
• Positive Sentiment: Industry confirmation of AI storage demand—Peers (Sandisk, Western Digital) and multiple analyst notes say Big Tech will spend heavily on AI infrastructure through 2026, boosting demand for storage components. That macro tailwind is central to the bullish thesis for STX. Sandisk joins Western Digital, Seagate in signaling strong AI storage demand
• Positive Sentiment: High-profile endorsements and coverage—Jim Cramer and multiple analyst blogs are spotlighting Seagate as a direct beneficiary of constrained supply vs. booming demand for AI storage, attracting retail and institutional attention. Jim Cramer Says “Seagate’s Been a Horse for Ages Now”
• Neutral Sentiment: Company product/service news—Seagate refreshed storage product lines aimed at high-resolution media and AI workflows, reinforcing the growth story but not an immediate earnings surprise. Seagate launches refreshed storage lineup
• Neutral Sentiment: Sector volatility—After Seagate-led rallies, peers have shown volatile post-earnings trading (e.g., Sandisk/WDC slipped despite strong forecasts), highlighting event-driven swings even as structural demand remains. Red-Hot AI Stock Western Digital Slides Late Despite Earnings Beat
• Neutral Sentiment: Media/attention items—Stories on “AI tokens” and pieces asking whether it’s too late to buy reflect heightened retail interest and sentiment momentum, which can amplify moves but add noise. Seagate stock has everyone talking about AI tokens Is It Too Late To Consider Seagate After Its Recent AI Storage-Fueled Surge?
• Negative Sentiment: Valuation and cycle risk—Analyst commentaries warn Seagate may be trading at peak earnings multiples tied to a hyperscaler capex cycle that could slow after FY26/FY27; that raises downside risk if AI capex moderates. Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STX. JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $525.00 to $775.00 and gave the stock an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday. Evercore lifted their price target on Seagate Technology from $550.00 to $750.00 and gave the company an "outperform" rating in a research report on Wednesday. Sanford C. Bernstein raised their target price on Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Citigroup lifted their target price on Seagate Technology from $595.00 to $740.00 and gave the company a "buy" rating in a report on Wednesday. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $709.13.

Seagate Technology Trading Up 7.9%

Shares of STX stock opened at $726.93 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a market cap of $158.52 billion, a P/E ratio of 68.97, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The business has a 50-day moving average price of $454.23 and a two-hundred day moving average price of $356.06. Seagate Technology Holdings PLC has a 12-month low of $91.29 and a 12-month high of $728.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business's quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 12.47 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Kian Fatt Chong sold 5,846 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total value of $8,414,600.00. Following the completion of the sale, the chief executive officer directly owned 355,591 shares in the company, valued at approximately $149,607,801.43. The trade was a 5.32% 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. In the last three months, insiders sold 90,430 shares of company stock worth $37,129,976. Insiders own 0.79% of the company's stock.

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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