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

Handelsbanken Fonder AB trimmed its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 33.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,611 shares of the data storage provider’s stock after selling 54,642 shares during the period. Handelsbanken Fonder AB’s holdings in Seagate Technology were worth $105,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after buying an additional 15 shares during the period. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares during the period. WealthCollab LLC boosted its stake in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during the period. Catalyst Capital Advisors LLC bought a new position in Seagate Technology during the first quarter valued at $39,000. Finally, Concord Wealth Partners bought a new position in Seagate Technology during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $800.99 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The stock has a market cap of $181.54 billion, a price-to-earnings ratio of 57.71 and a beta of 2.06. The firm has a 50-day moving average of $892.31 and a two-hundred day moving average of $651.47. Seagate Technology Holdings PLC has a 1 year low of $151.23 and a 1 year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period last year, the company posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts forecast that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STX shares. Wall Street Zen upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Morgan Stanley upped their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. UBS Group raised their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $986.00.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 17,080 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $827.30, for a total value of $14,130,284.00. Following the completion of the sale, the chief executive officer directly owned 295,517 shares in the company, valued at approximately $244,481,214.10. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 694 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $877.45, for a total value of $608,950.30. Following the transaction, the executive vice president directly owned 347 shares in the company, valued at $304,475.15. The trade was a 66.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 149,638 shares of company stock worth $126,692,095 over the last quarter. Insiders own 0.79% of the company’s stock.

Seagate Technology 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.