Handelsbanken Fonder AB Decreases Position in Seagate Technology Holdings PLC $STX

Handelsbanken Fonder AB cut its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 113,893 shares of the data storage provider’s stock after selling 15,428 shares during the period. Handelsbanken Fonder AB’s holdings in Seagate Technology were worth $31,365,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after buying an additional 442,749 shares during the last quarter. State Street Corp raised its holdings in Seagate Technology by 3.1% in the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock worth $2,196,420,000 after buying an additional 274,913 shares during the last quarter. WCM Investment Management LLC purchased a new position in Seagate Technology in the third quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership raised its holdings in Seagate Technology by 1,072.5% in 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 buying an additional 2,697,957 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on STX. Argus lifted their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wedbush lifted their target price on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Sanford C. Bernstein lifted their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $733.71.

Seagate Technology Stock Performance

Shares of STX stock opened at $733.35 on Wednesday. The company has a 50 day moving average price of $541.33 and a 200-day moving average price of $401.33. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a market capitalization of $164.44 billion, a PE ratio of 69.58 and a beta of 1.98. Seagate Technology Holdings PLC has a 52 week low of $103.73 and a 52 week high of $841.31.

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

Seagate Technology Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and bullish commentary point to durable AI-related storage demand and Seagate’s HAMR-driven product cycle as potential supports for longer-term revenue and margin growth.
• Neutral Sentiment: Several articles focus on Seagate’s presentation and broader analyst reactions, including price-target updates, but do not add a major new catalyst by themselves.
• Negative Sentiment: CEO comments that it would take too long to build new factories, and that Seagate may not expand capacity aggressively, have raised concern that the company could miss some of the AI demand upside. Article Title
• Negative Sentiment: The capacity warning has also triggered a broader selloff in memory and storage stocks, adding sector pressure to STX. Article Title

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 118,283 shares of company stock worth $65,989,618 in the last quarter. 0.79% of the stock is currently owned by insiders.

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.