Truist Financial Corp Buys 10,311 Shares of Seagate Technology Holdings PLC $STX

Truist Financial Corp boosted its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 26.5% during the third quarter, Holdings Channel reports. The institutional investor owned 49,193 shares of the data storage provider’s stock after buying an additional 10,311 shares during the period. Truist Financial Corp’s holdings in Seagate Technology were worth $11,613,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Corp bought a new position in shares of Seagate Technology during the third quarter worth approximately $33,000. Harbor Asset Planning Inc. acquired a new position in Seagate Technology in the 2nd quarter valued at $27,000. Rakuten Securities Inc. increased its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the period. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology during the second quarter worth $29,000. Finally, True Wealth Design LLC boosted its position in shares of Seagate Technology by 665.7% in the third quarter. True Wealth Design LLC now owns 268 shares of the data storage provider’s stock valued at $63,000 after acquiring an additional 233 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Key Seagate Technology News

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate topped EPS and revenue expectations and issued stronger Q3 EPS guidance, which is the primary fundamental catalyst for the rally. Seagate Q2 Highlights
• Positive Sentiment: “Sold out through 2026” demand commentary — Management said AI-driven data-center demand has Seagate effectively sold out, supporting revenue visibility and pricing power for nearline HDD capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Earnings-estimate momentum — Analysts have been raising earnings estimates for STX, supporting further upside expectations. Earnings Estimates Rising for Seagate (STX)
• Positive Sentiment: Multiple price-target/rating upgrades — Several brokers (Argus, Citigroup, Evercore, Robert W. Baird, Cantor, etc.) raised targets and/or upgraded ratings after the print, amplifying momentum and institutional flows. Argus Adjusts Price Target on Seagate
• Neutral Sentiment: Dividend maintained — Company declared a quarterly dividend (modest yield ~0.7%); shareholder-friendly but not a primary driver of the move.
• Neutral Sentiment: Mixed analyst views remain — while many houses hiked targets, a subset of major banks still show more conservative targets, indicating differing views on how sustainable the rally and valuations are. Analyst Rating Coverage
• Negative Sentiment: Valuation/overbought warnings — Some commentary flags STX as potentially overbought with premium valuations after the run, which could invite profit-taking or a pullback. Seagate Suffers From AI Success
• Negative Sentiment: Insider sale — An EVP recently sold a small block of shares; while small relative to market cap, insider selling can be read negatively by some investors. SEC Form 4

Analyst Ratings Changes

STX has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays raised their target price on shares of Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Cantor Fitzgerald increased their price target on Seagate Technology from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BNP Paribas Exane raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $380.00 price objective for the company in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $417.57.

Insider Transactions at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company’s stock, valued at $89,654.45. This trade represents a 72.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 124,902 shares of company stock valued at $34,819,987. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $407.69 on Friday. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.62 and a current ratio of 1.12. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $457.84. The stock has a market capitalization of $87.07 billion, a P/E ratio of 46.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The stock has a fifty day moving average of $304.66 and a 200-day moving average of $239.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 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, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s dividend payout ratio is presently 33.48%.

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.