QRG Capital Management Inc. Raises Stake in Seagate Technology Holdings PLC $STX

Key Points

• QRG Capital Management boosted its stake in Seagate by 583.7% in Q4 to 35,650 shares, valued at about $9.82 million, as institutional ownership stands around 92.87%.
• Seagate reported a strong quarter (April 28) with $4.10 EPS vs. $3.51 est. and $3.11B revenue (up 44.1% YoY), and set Q4 2026 guidance of 4.80–5.20 EPS amid analyst estimate upgrades.
• Insiders have been selling recently (CEO sold 20,000 shares; ~70,430 shares sold by insiders in the past 90 days, ~$28.5M), while Wall Street maintains a Moderate Buy consensus with a $709.13 target amid some valuation caution.

QRG Capital Management Inc. increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 583.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,650 shares of the data storage provider's stock after purchasing an additional 30,436 shares during the period. QRG Capital Management Inc.'s holdings in Seagate Technology were worth $9,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service boosted its holdings in Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock valued at $59,044,000 after acquiring an additional 54,722 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in Seagate Technology in the 3rd quarter worth approximately $1,864,000. PFA Pension Forsikringsaktieselskab bought a new stake in Seagate Technology in the fourth quarter valued at approximately $23,882,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after purchasing an additional 6,028 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of Seagate Technology by 5.0% during the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock valued at $51,510,000 after purchasing an additional 8,991 shares during the period. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

NASDAQ:STX opened at $771.01 on Wednesday. The stock has a market cap of $172.88 billion, a P/E ratio of 73.15 and a beta of 1.98. The firm's fifty day simple moving average is $461.42 and its 200 day simple moving average is $361.93. Seagate Technology Holdings PLC has a twelve month low of $91.92 and a twelve month high of $792.01. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during 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 company's quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STX. KeyCorp set a $500.00 target price on shares of Seagate Technology in a report on Wednesday, January 28th. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday. Robert W. Baird raised their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Seagate Technology in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $709.13.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Wall Street optimism: MSN outlines three reasons for Seagate’s rally, citing demand dynamics and analyst enthusiasm that help explain the stock’s recent surge. Seagate Stocks’s Rally Is No Accident: 3 Reasons Wall Street Is Optimistic
• Positive Sentiment: Momentum profile: Zacks argues STX is a top momentum stock, highlighting strong price action, upgrade/estimate trends and momentum indicators that can attract momentum-focused buyers. Seagate (STX) is a Great Momentum Stock: Should You Buy?
• Positive Sentiment: AI demand narrative: 247WallSt spotlights Seagate as an under-the-radar AI beneficiary that has outperformed larger names, reinforcing investor interest in STX as AI/cloud storage tailwinds persist. The Best-Performing AI Stock Nobody Is Talking About Has Outrun Nvidia by a Mile
• Positive Sentiment: Earnings-estimate revisions: Coverage notes that analysts have been raising earnings estimates for Seagate, supporting the case for further upside and underpinning valuation re-rating. Earnings Estimates Moving Higher for Seagate (STX): Time to Buy?
• Positive Sentiment: Management visibility: Seagate confirmed presentations at JP Morgan and TD Cowen conferences later this month — a chance to reinforce guidance and engage institutional investors. Seagate to Participate in Upcoming Investor Events
• Neutral Sentiment: Momentum lists & rankings: Multiple Zacks/Yahoo pieces include STX on "best momentum" or Zacks Rank #1 lists, which can drive interest from model-following funds but are less directly tied to fundamentals. Best Momentum Stock to Buy for May 4th
• Neutral Sentiment: Long-term performance story: Feature pieces on Yahoo show exceptional multi-year returns for Seagate, reinforcing the narrative for long-term investors but offering limited incremental near-term catalyst. Here's How Much a $1000 Investment in Seagate Made 10 Years Ago Would Be Worth Today
• Negative Sentiment: Valuation caution: Jim Cramer commented that stocks like Seagate look "really overextended" to him, a sentiment that could encourage some profit-taking or caution among retail/institutional traders. Jim Cramer Says Stocks Like Seagate “Are Really Overextended” For Him

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction that occurred 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 355,591 shares in the company, valued at $149,607,801.43. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 70,430 shares of company stock worth $28,544,576. 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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