USA Financial Formulas Acquires Shares of 3,390 Seagate Technology Holdings PLC $STX

Key Points

• USA Financial Formulas acquired 3,390 Seagate shares worth approximately $1.33 million, making Seagate its 25th-largest holding. Institutional investors collectively own 92.87% of STX.
• Seagate reported strong fiscal 2026 results, with revenue up 48.5% year over year to $3.63 billion and adjusted EPS of $5.71, beating estimates. Management guided fiscal first-quarter 2027 EPS to $7.10–$7.50, supported by strong AI-related storage demand.
• STX traded near $973.44 and analysts maintained a broadly bullish outlook, with a “Moderate Buy” consensus and an average price target of $986. However, its elevated 70.13 price-to-earnings ratio and exposure to storage-industry cyclicality present valuation risks.

USA Financial Formulas bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,390 shares of the data storage provider's stock, valued at approximately $1,328,000. Seagate Technology accounts for about 0.2% of USA Financial Formulas' holdings, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Walker Asset Management LLC acquired a new position in Seagate Technology in the 2nd quarter valued at about $338,000. Ballast Inc. acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $222,000. Regent Peak Wealth Advisors LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at approximately $354,000. Taylor & Morgan Wealth Management LLC grew its stake in shares of Seagate Technology by 8.8% in the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider's stock valued at $582,000 after purchasing an additional 49 shares during the last quarter. Finally, Nolet Wealth Management LLC acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $293,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate finished fiscal 2026 ahead of expectations, with revenue of $3.63 billion, adjusted EPS of $5.71, and year-over-year revenue growth of 48.5%. Management also guided to fiscal first-quarter 2027 EPS of $7.10 to $7.50, reinforcing expectations for continued earnings growth. How Seagate’s Strong Fiscal 2026 Beat and HAMR Momentum May Impact Seagate Technology Investors
• Positive Sentiment: Non-GAAP gross margin expanded for the 13th consecutive quarter, while quarterly free cash flow reached its strongest level in more than a decade. These trends suggest improving operating leverage and financial flexibility. Seagate Technology Holdings Following Strong FY2026 Results Looks Undervalued By The Narrative
• Positive Sentiment: AI-related storage demand, supply agreements extending beyond 2028, and Seagate’s HAMR-based Mozaic platform are viewed as catalysts for planned mid-20% exabyte growth. Analysts see the company as a potential underappreciated AI-infrastructure beneficiary. The AI Stock Everyone Knows But Few See Becoming a Future Winner
• Positive Sentiment: Upward earnings-estimate revisions are adding to the bullish case, as analysts anticipate that stronger storage demand and expanding margins could produce further upside for STX. Surging Earnings Estimates Signal Upside for Seagate Stock
• Neutral Sentiment: Although some valuation analysis indicates potential discounted-cash-flow upside, Seagate’s substantial multiyear rally and elevated earnings multiple mean the stock is not uniformly viewed as a bargain. Investors remain exposed to storage-industry cyclicality and high expectations. Seagate Stock Could Trade Below Fair Value While Earnings Look Full

Seagate Technology Trading Up 5.7%

NASDAQ:STX opened at $973.44 on Friday. Seagate Technology Holdings PLC has a 1 year low of $152.05 and a 1 year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The stock has a fifty day moving average price of $891.36 and a two-hundred day moving average price of $664.79. The stock has a market capitalization of $220.63 billion, a price-to-earnings ratio of 70.13 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $2.59 EPS. The business's revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,300.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Barclays upped their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Wedbush raised their target price on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $986.00.

Insider Activity

In other news, EVP Ban Seng Teh sold 7,361 shares of Seagate Technology stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the completion of the sale, the executive vice president directly owned 2,931 shares in the company, valued at approximately $2,698,864.80. This trade represents a 71.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Ci Lee sold 694 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $877.45, for a total value of $608,950.30. Following the sale, the executive vice president directly owned 347 shares in the company, valued at $304,475.15. This trade represents a 66.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 163,650 shares of company stock valued at $138,616,274 in the last quarter. Insiders own 0.79% of the company's stock.

Seagate Technology Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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