Wealthfront Advisers LLC Purchases 2,870 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Wealthfront Advisers LLC increased its stake in Seagate by 6.9%, buying 2,870 shares to hold 44,451 shares valued at about $12.24 million.
• Seagate materially beat Q3 expectations (EPS $4.10 vs. $3.47; revenue $3.11B vs. $2.94B) and guided Q4 EPS to $4.80–$5.20, sparking analyst price‑target upgrades and a lift across storage stocks on AI/data‑center demand hopes.
• Despite heavy institutional ownership (~92.9%), insiders sold roughly 111,550 shares (~$46.5M) in the past 90 days, and the stock now trades at a high P/E (~65.5) with a very high reported debt‑to‑equity (~7.63), highlighting valuation and leverage risks if AI demand slows.

Wealthfront Advisers LLC grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,451 shares of the data storage provider's stock after purchasing an additional 2,870 shares during the quarter. Wealthfront Advisers LLC's holdings in Seagate Technology were worth $12,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. WCM Investment Management LLC bought a new stake in Seagate Technology during the third quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership grew its position in shares of 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 worth $696,262,000 after purchasing 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 4th 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 purchasing an additional 1,883,769 shares during the period. Soroban Capital Partners LP raised its stake in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the period. Finally, Trivest Advisors Ltd purchased a new position in Seagate Technology in the 3rd quarter worth approximately $170,435,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Q3 results materially beat expectations — EPS $4.10 vs. consensus ~$3.47 and revenue $3.11B vs. ~$2.94B; company reported record margins and roughly $1B of free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Very strong forward guidance — Q4 EPS guided to $4.80–$5.20 (street ~3.89) and revenue guided to $3.4–$3.6B — signaling continued AI/data‑center demand. Reuters: Seagate forecasts upbeat quarter
• Positive Sentiment: Wall Street is repricing the stock: Rosenblatt raised its price target to $1,000 (buy), and other firms (Wedbush, BofA, Cantor) have lifted targets to the $700 area — signaling big upside in analyst models. Rosenblatt price-target note
• Positive Sentiment: Sector lift: Seagate’s upbeat forecast helped lift storage peers and pushed storage stocks higher on expectations of sustained AI spending. Reuters: Storage stocks jump
• Neutral Sentiment: Board declared a quarterly dividend of $0.74/share (record June 24, payable July 7); yield ~0.5% — a small income signal but not a primary catalyst.
• Negative Sentiment: Risks and valuation — STX now trades with a high P/E (~65.5) and very high reported debt-to-equity (~7.6). Rapid re‑rating raises downside risk if AI/data‑center demand slows or HAMR adoption/timing disappoints.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 24,584 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the sale, the chief executive officer directly owned 375,591 shares in the company, valued at $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 20,195 shares of the firm's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company's stock, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 111,550 shares of company stock worth $46,476,441 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STX shares. Bank of America increased their price objective on shares of Seagate Technology from $605.00 to $700.00 and gave the company a "buy" rating in a report on Monday. Barclays raised shares of Seagate Technology from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $425.00 to $625.00 in a report on Wednesday, April 22nd. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $500.00 to $620.00 and gave the company an "outperform" rating in a research note on Thursday, April 9th. Robert W. Baird lifted their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. Finally, BNP Paribas Exane boosted their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research note on Wednesday. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $649.54.

Seagate Technology Stock Down 2.8%

NASDAQ STX opened at $579.03 on Wednesday. The stock has a 50 day moving average price of $444.55 and a 200-day moving average price of $351.81. Seagate Technology Holdings PLC has a one year low of $81.22 and a one year high of $607.89. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The company has a market capitalization of $126.27 billion, a P/E ratio of 65.50, a P/E/G ratio of 0.99 and a beta of 1.61.

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 the consensus estimate of $3.47 by $0.63. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the business posted $1.90 earnings per share. Seagate Technology's quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 12.13 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio is currently 33.48%.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

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.