Thoroughbred Financial Services LLC Raises Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Thoroughbred Financial Services LLC increased its Seagate Technology stake by 42.8% in the fourth quarter, adding 1,203 shares to bring its total to 4,015 shares worth about $1.1 million.
• Seagate reported strong quarterly results, with earnings of $4.10 per share and revenue of $3.11 billion, both ahead of analyst expectations. Revenue rose 44.1% year over year, and the company guided Q4 2026 EPS to $4.80-$5.20.
• Analysts remain broadly positive on STX, with a Moderate Buy consensus and an average price target of $746.63. The company also announced a quarterly dividend of $0.74 per share, payable July 7.

Thoroughbred Financial Services LLC boosted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 42.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,015 shares of the data storage provider's stock after purchasing an additional 1,203 shares during the period. Thoroughbred Financial Services LLC's holdings in Seagate Technology were worth $1,105,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STX. WCM Investment Management LLC acquired a new stake in Seagate Technology during the third quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership raised its stake in Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Soroban Capital Partners LP raised its stake in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Trivest Advisors Ltd acquired a new stake in Seagate Technology during the third quarter valued at approximately $170,435,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares in the company, valued at $255,131,322.39. This trade represents a 8.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $741.17, for a total value of $516,595.49. Following the completion of the sale, the executive vice president owned 324 shares in the company, valued at approximately $240,139.08. This represents a 68.27% 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 sold 142,437 shares of company stock worth $86,093,575 over the last quarter. Insiders own 0.79% of the company's stock.

Seagate Technology Stock Down 0.1%

Shares of Seagate Technology stock opened at $879.80 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The business's 50 day simple moving average is $612.03 and its 200-day simple moving average is $432.02. The stock has a market capitalization of $197.28 billion, a price-to-earnings ratio of 83.47 and a beta of 1.98. Seagate Technology Holdings PLC has a twelve month low of $116.28 and a twelve month high of $905.39.

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, topping 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 return on equity of 1,005.65% and a net margin of 21.60%.The business's quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STX shares. Morgan Stanley upped their price objective on Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Argus upped their price objective on Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Susquehanna upped their price objective on Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Wells Fargo & Company upped their price objective on Seagate Technology from $450.00 to $700.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities increased their price target on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and a consensus target price of $746.63.

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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