Sara Bay Financial Has $2.94 Million Stock Position in Seagate Technology Holdings PLC $STX

Key Points

• Sara Bay Financial cut its Seagate stake by 20.5% in the first quarter, selling 1,927 shares and leaving it with 7,494 shares worth about $2.94 million. Seagate now represents roughly 0.9% of the fund’s holdings.
• Wall Street sentiment remains broadly positive, with several firms raising price targets after Seagate’s AI-related momentum. The consensus rating is still “Moderate Buy,” even though Fox Advisors downgraded the stock to Equal Weight.
• Seagate has reported strong earnings and remains a major AI-storage beneficiary, posting better-than-expected quarterly EPS and revenue while seeing demand tied to AI data center buildout. However, the stock’s sharp year-to-date rally has also raised valuation concerns among some analysts.

Sara Bay Financial reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 20.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,494 shares of the data storage provider's stock after selling 1,927 shares during the period. Seagate Technology accounts for approximately 0.9% of Sara Bay Financial's holdings, making the stock its 17th largest holding. Sara Bay Financial's holdings in Seagate Technology were worth $2,936,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after buying an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $262,000. Cerity Partners LLC raised its position in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after acquiring an additional 7,517 shares during the period. Sei Investments Co. boosted its stake in Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STX. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. China Renaissance increased their target price on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Fox Advisors cut shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday. Finally, Mizuho raised their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $831.79.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president owned 3,691 shares of the company's stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. 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. Insiders have sold a total of 141,069 shares of company stock worth $107,161,712 in the last 90 days. Company insiders own 0.79% of the company's stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Mizuho raised its price target on Seagate to $1,090 from $875 and kept an Outperform rating, citing higher estimates after the company’s AI-related results, which supports the bull case for continued upside. Mizuho Lifts PT on Seagate Technology Holdings (STX)
• Positive Sentiment: Multiple articles highlighted Seagate as a top AI memory/storage stock, with investors focusing on strong demand for nearline hard drives and data storage needed for AI workloads, a theme that has helped drive the stock’s sharp rally. Mizuho Lifts PT on Seagate Technology Holdings (STX)
• Neutral Sentiment: Commentary from 247WallSt noted that Seagate’s valuation now looks stretched after its parabolic run, and suggested the risk/reward is less attractive without a pullback, which may temper enthusiasm even though the longer-term AI story remains intact. Buy, Hold, or Sell: Wall Street Fears Tech Compression, but This AI Storage Monster Has a Hidden Weapon
• Neutral Sentiment: Market chatter also focused on how much further STX can rally after rising roughly 290% year to date, indicating strong momentum but also raising expectations that could limit near-term gains. Up 290% YTD, How High Can Seagate Rally?
• Negative Sentiment: Fox Advisors downgraded Seagate from Overweight to Equal Weight, suggesting some analysts think much of the good news is already reflected in the stock price. Finviz downgrade mention
• Negative Sentiment: A broader selloff in memory-related stocks briefly pressured sentiment across the group, as investors reacted to macro and geopolitical risk; that kind of weakness can spill over into Seagate even when the company-specific outlook remains strong. Memory Stock Rout Hits Popular DRAM ETF

Seagate Technology Price Performance

NASDAQ STX opened at $1,038.59 on Wednesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $232.88 billion, a price-to-earnings ratio of 98.54 and a beta of 2.04. The business has a 50 day simple moving average of $791.71 and a 200 day simple moving average of $516.18. Seagate Technology Holdings PLC has a 52-week low of $133.85 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates 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 revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is 28.08%.

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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