Seagate Technology Holdings PLC $STX Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Seagate stake by 5.8% in Q4 to 242,898 shares (about $66.9M), and institutional investors now hold roughly 92.9% of the stock.
• Earnings and outlook improved: Seagate beat Q3 estimates (revenue $3.11B, EPS $4.10), launched an AI‑focused storage suite, and has seen multiple analyst target upgrades (Morgan Stanley $767; average target ≈ $709), supporting a premium rerating.
• Insider selling creates headline risk: executives and directors sold over 78,000 shares (~$34.4M) in the last quarter, which may prompt short‑term profit‑taking despite strong institutional buying and analyst optimism.

Principal Financial Group Inc. increased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,898 shares of the data storage provider's stock after acquiring an additional 13,304 shares during the period. Principal Financial Group Inc. owned about 0.11% of Seagate Technology worth $66,892,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service raised its position in Seagate Technology by 28.0% in the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock valued at $59,044,000 after purchasing an additional 54,722 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Seagate Technology during the fourth quarter worth about $23,882,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Seagate Technology during the third quarter worth approximately $1,864,000. New York State Teachers Retirement System increased 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 worth $51,510,000 after buying an additional 8,991 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings 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 acquiring an additional 6,028 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Seagate Technology News

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

• Positive Sentiment: Q3 results materially beat expectations (≈$3.11B revenue, $4.10 EPS), management reiterated capital returns (dividend + buybacks) and set above‑street guidance, supporting the long‑term bull case. Seagate (STX) Is Up 22.2% After Strong Q3 Results And AI Storage Push Has The Bull Case Changed?
• Positive Sentiment: Seagate launched an AI‑focused storage suite (consumer & professional SKUs, Thunderbolt 5, up to 256TB), reinforcing its positioning for AI/data‑center content workflows and potential higher ASPs. Seagate’s New AI Storage Suite Meets Rapidly Rising STX Valuation
• Positive Sentiment: Major sell‑side houses raised targets and ratings (Morgan Stanley bumped its PT to $767 and flagged STX as a top pick), adding momentum and justifying a premium rerating. Morgan Stanley Calls Seagate Technology Holdings (STX) a “Top Pick”
• Positive Sentiment: Other analyst upgrades (Zacks, Goldman etc.) and institutional buying have supported investor conviction that Seagate will capture AI/data center demand. Seagate coverage and analyst notes
• Neutral Sentiment: Lead Independent Director Mike Cannon announced retirement effective Oct‑2026 — orderly governance change but not an immediate operational catalyst. Seagate Announces the Retirement of Michael R. Cannon, Lead Independent Director
• Neutral Sentiment: Seagate declared its quarterly dividend (annualized $2.96; modest yield) — supportive for income investors but limited as a catalyst given valuation move. Dividend and company profile
• Neutral Sentiment: Broader market risk appetite has improved (VIX lower), which helped the prior tech run but also encourages rotation and profit‑taking dynamics. CBOE VIX Slides Toward 17 as Oil Retreat and Tech Stock Surge Restore Risk Appetite
• Negative Sentiment: Multiple recent insider sales (EVP James Ci Lee sold 697 shares under a 10b5‑1 plan) have created headline risk and may amplify short‑term profit‑taking. Form 4 — James Ci Lee sale
• Negative Sentiment: EVP John Christopher Morris sold 5,626 shares (pre‑arranged 10b5‑1) — a larger disposition that attracts investor attention despite being planned. Form 4 — John Christopher Morris sale
• Negative Sentiment: Director Stephanie Tilenius sold 1,580 shares — multiple sales together increase short‑term headline risk even if compliant. Form 4 — Stephanie Tilenius sale

Insiders Place Their Bets

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 value of $2,434,742.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. The trade was a 32.00% 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 quarter, insiders have sold 78,333 shares of company stock valued at $34,426,485. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. China Renaissance lifted their price target on Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Barclays upped their price objective on Seagate Technology from $625.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley raised their target price on Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. One 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $709.13.

Seagate Technology Price Performance

Shares of STX opened at $766.44 on Friday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a fifty-two week low of $94.97 and a fifty-two week high of $792.01. The firm has a 50-day simple moving average of $476.41 and a 200-day simple moving average of $369.68. The company has a market capitalization of $171.86 billion, a price-to-earnings ratio of 72.72 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the business earned $1.90 EPS. The firm's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

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