Tredje AP fonden Grows Stake in Seagate Technology Holdings PLC $STX

Tredje AP fonden boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 446.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,339 shares of the data storage provider’s stock after acquiring an additional 90,968 shares during the quarter. Tredje AP fonden’s holdings in Seagate Technology were worth $30,662,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Salomon & Ludwin LLC boosted its position in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Concord Wealth Partners purchased a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth lifted its stake in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Seagate Technology in the 4th quarter worth approximately $37,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $740.84 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 12 month low of $103.73 and a 12 month high of $841.31. The stock has a market cap of $166.12 billion, a price-to-earnings ratio of 70.29 and a beta of 1.98. The company’s 50 day moving average is $533.71 and its two-hundred day moving average is $398.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other news, EVP James Ci Lee sold 697 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the completion of the transaction, the executive vice president owned 324 shares of the company’s stock, valued at $240,139.08. This represents a 68.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This represents a 68.44% 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 a total of 118,283 shares of company stock worth $65,989,618 in the last three months. 0.79% of the stock is owned by company insiders.

More Seagate Technology News

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

• Positive Sentiment: Evercore ISI reportedly raised its price target on Seagate, signaling at least one analyst still sees upside despite the recent volatility.
• Positive Sentiment: Earlier commentary highlighted Seagate as a beneficiary of the AI storage boom, with strong demand for mass-capacity drives and progress on Mozaic HAMR technology supporting revenue and margin growth. Article Title
• Neutral Sentiment: Seagate presented at the J.P. Morgan Global Technology, Media and Communications Conference, keeping investors focused on management’s outlook and manufacturing plans. Article Title
• Negative Sentiment: CEO comments that new factory expansion would take too long sparked fears Seagate may not be able to keep pace with AI-related demand, weighing on the stock and pressuring peers such as Micron, SanDisk, and Western Digital. Article Title
• Negative Sentiment: Multiple reports said STX slid about 7% to 7.5% as investors sold the stock on concerns that capacity constraints could limit Seagate’s ability to monetize AI demand right away. Article Title

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. TD Cowen increased their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Barclays lifted their price target on shares of Seagate Technology from $625.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Argus upped their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $733.71.

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.