Seagate Technology Holdings PLC $STX Position Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 27.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,935 shares of the data storage provider’s stock after purchasing an additional 5,330 shares during the period. Illinois Municipal Retirement Fund’s holdings in Seagate Technology were worth $22,999,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Amundi increased its holdings in shares of Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares during the last quarter. National Pension Service increased its holdings in shares of Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock valued at $805,490,000 after acquiring an additional 6,944 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Seagate Technology by 9.6% during the 1st quarter. Swiss National Bank now owns 639,400 shares of the data storage provider’s stock valued at $250,491,000 after acquiring an additional 55,900 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Price Performance

Shares of STX stock opened at $501.62 on Wednesday. The company has a market capitalization of $115.15 billion, a P/E ratio of 26.35 and a beta of 2.16. Seagate Technology Holdings PLC has a 12 month low of $228.61 and a 12 month high of $1,145.00. The stock has a 50 day moving average of $756.58 and a two-hundred day moving average of $695.40. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.44 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. Seagate Technology’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 EPS. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 37.96 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s payout ratio is 15.97%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $1,000.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 28th. Wells Fargo & Company decreased their target price on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Robert W. Baird set a $1,350.00 price target on Seagate Technology in a report on Wednesday, October 28th. Finally, Weiss Ratings lowered shares of Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Twenty-three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate launched the FireCuda Forge, an external drive using its new Alkemi intelligent storage platform. The company says dynamic caching is designed to combine SSD-like responsiveness with HDD capacity, targeting gamers and content creators. The launch expands its product offering, though its effect on revenue is not yet clear. Seagate FireCuda Forge announcement
• Positive Sentiment: A Morgan Stanley outlook cited strong fundamentals despite weak investor sentiment and maintained a $1,148 price target, suggesting substantial potential upside in the analyst’s view. The article also noted STX had dropped about 15% over the prior week, highlighting volatility and the gap between recent performance and that bullish forecast. Morgan Stanley outlook on Seagate
• Positive Sentiment: Recent coverage points to record first-quarter fiscal 2027 profit and rising earnings estimates for fiscal 2027 and 2028. Continued AI-related storage demand is a potential growth driver, although expectations are already an important part of the investment case. Seagate earnings and AI storage demand
• Neutral Sentiment: A short-interest report describes a large increase but gives the total short interest as zero shares, an internally inconsistent figure that offers no dependable signal about investor positioning.
• Negative Sentiment: STX has recently been volatile and faced a sharp pullback, which may keep near-term sentiment fragile even as analysts point to strong fundamentals. The new product announcement does not yet establish how much near-term earnings it could generate.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Morris sold 15,466 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the transaction, the executive vice president owned 31,132 shares of the company’s stock, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the transaction, the chief financial officer directly owned 70,756 shares in the company, valued at $54,634,952.96. This trade represents a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 447,108 shares of company stock valued at $356,049,743. 0.51% of the stock is owned by corporate insiders.

Seagate Technology Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.