Healthcare of Ontario Pension Plan Trust Fund Boosts Position in Seagate Technology Holdings PLC $STX

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 3,380.4% in the fourth quarter, Holdings Channel reports. The fund owned 293,012 shares of the data storage provider’s stock after purchasing an additional 284,593 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Seagate Technology were worth $80,693,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Seagate Technology by 1.6% during the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after acquiring an additional 442,749 shares during the last quarter. State Street Corp increased its position in Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley increased its position in Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC increased its position in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $931.04 on Monday. The firm has a market cap of $208.77 billion, a price-to-earnings ratio of 88.33 and a beta of 2.04. 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 business has a 50-day moving average price of $709.54 and a 200-day moving average price of $477.38. Seagate Technology Holdings PLC has a twelve month low of $124.63 and a twelve month high of $966.80.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a $0.74 dividend. 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 0.3%. Seagate Technology’s dividend payout ratio is 28.08%.

Analyst Ratings Changes

STX has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. TD Cowen boosted their price target on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America boosted their price target on Seagate Technology from $900.00 to $1,000.00 in a report on Monday, June 8th. Finally, China Renaissance boosted their price target on Seagate Technology from $802.00 to $983.00 in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $820.63.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This represents a 34.42% 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 John Christopher Morris sold 5,626 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This trade represents 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. In the last ninety days, insiders sold 160,629 shares of company stock worth $112,739,671. 0.79% of the stock is currently owned by insiders.

More Seagate Technology News

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

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.