QRG Capital Management Inc. Buys 2,826 Shares of Seagate Technology Holdings PLC $STX

Key Points

• QRG Capital Management increased its Seagate position by 15.5% in the second quarter, adding 2,826 shares to hold 21,081 shares valued at approximately $20.3 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported strong quarterly results, with revenue up 48.5% year over year and earnings of $5.71 per share versus the $5.10 consensus estimate. Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $986.
• AI-driven data-center storage demand is a key growth catalyst, but Seagate’s rapid rally and valuation near 66 times earnings increase downside risk. Recent insider sales—including CEO and CFO transactions tied to equity-award tax obligations—could also weigh on sentiment.

QRG Capital Management Inc. grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 15.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 21,081 shares of the data storage provider's stock after acquiring an additional 2,826 shares during the period. QRG Capital Management Inc.'s holdings in Seagate Technology were worth $20,343,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of Seagate Technology by 163.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,940 shares of the data storage provider's stock worth $3,802,000 after acquiring an additional 2,444 shares in the last quarter. Silicon Valley Capital Partners increased its holdings in Seagate Technology by 1,988.5% in the second quarter. Silicon Valley Capital Partners now owns 543 shares of the data storage provider's stock worth $524,000 after purchasing an additional 517 shares in the last quarter. Altar Rock LLC bought a new stake in Seagate Technology in the second quarter worth approximately $260,000. Wellington Altus USA Inc. lifted its stake in Seagate Technology by 137.3% in the second quarter. Wellington Altus USA Inc. now owns 140 shares of the data storage provider's stock valued at $135,000 after buying an additional 81 shares during the period. Finally, Bouchey Financial Group Ltd. acquired a new position in Seagate Technology in the second quarter valued at approximately $377,000. Institutional investors and hedge funds 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: Investors are increasingly expecting agentic AI applications to drive substantial growth in cloud and data-center storage demand. Seagate’s mass-capacity hard drives could benefit as AI workloads generate and retain more data. Why Seagate Is Up After Agentic AI Hype Lifts Storage Demand Expectations
• Positive Sentiment: Seagate reportedly retired its 2028 notes, a move that reduces near-term refinancing obligations and could improve financial flexibility. Investors may now look for additional share buybacks, which could support earnings per share. Seagate Retired Its 2028 Notes
• Positive Sentiment: Seagate was included among technology companies viewed as beneficiaries of demand for integrated solutions and multi-cloud adoption, reinforcing the broader technology-sector tailwind. 4 Stocks to Buy From a Prospering Technology Solutions Industry
• Neutral Sentiment: Recent coverage highlights an unusually wide range of potential outcomes after STX surged from roughly $207 to above $1,100 over the past year. Analysts remain broadly constructive, but the stock’s future depends on sustained AI-driven demand and execution. Seagate Went From $207 to $1,144
• Negative Sentiment: Executive Vice President John Christopher Morris sold 9,354 shares worth approximately $8.2 million under a pre-arranged Rule 10b5-1 plan, reducing his direct holdings by 29.2%. The planned nature of the transaction lessens its significance, but repeated insider sales may still weigh on sentiment. Seagate Executive Sells Shares
• Negative Sentiment: At approximately 66 times earnings, STX carries a demanding valuation after its rapid rally. Any slowdown in storage demand, weaker pricing, or disappointment regarding AI-related growth could lead to heightened volatility.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 97,889 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer owned 378,108 shares of the company's stock, valued at approximately $291,952,311.12. The trade was a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. The trade was a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 466,959 shares of company stock worth $378,615,011. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

STX has been the topic of a number of research reports. Mizuho boosted their target price 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. Argus boosted their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Susquehanna upped their target price on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Wall Street Zen cut Seagate Technology from a "strong-buy" rating to a "buy" rating in a report on Sunday, September 6th. Finally, Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Stock Up 0.4%

Shares of NASDAQ:STX opened at $923.86 on Thursday. The business has a fifty day moving average price of $845.18 and a two-hundred day moving average price of $753.25. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The company has a market capitalization of $210.08 billion, a PE ratio of 66.56 and a beta of 2.06. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm's revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is presently 21.33%.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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