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

Principal Financial Group Inc. lifted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 242,898 shares of the data storage provider’s stock after purchasing an additional 13,304 shares during the period. Principal Financial Group Inc.’s holdings in Seagate Technology were worth $66,892,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in STX. Salomon & Ludwin LLC increased its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth grew its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new position in Seagate Technology in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,333 shares of company stock worth $34,426,485 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Key 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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup lifted their price target on shares of Seagate Technology from $595.00 to $740.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Robert W. Baird raised their price objective on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Wells Fargo & Company lifted their price objective on Seagate Technology from $450.00 to $700.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Barclays boosted their target price 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, Susquehanna raised their price target on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $709.13.

Seagate Technology Trading Down 2.5%

Shares of Seagate Technology stock opened at $766.44 on Friday. Seagate Technology Holdings PLC has a 1 year low of $94.97 and a 1 year high of $792.01. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The business has a 50 day moving average price of $476.41 and a 200 day moving average price of $369.68. The company has a market capitalization of $171.86 billion, a P/E ratio of 72.72 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The firm 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%.Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

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.