Forsta AP Fonden Grows Stake in Seagate Technology Holdings PLC $STX

Forsta AP Fonden grew its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 15.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,000 shares of the data storage provider’s stock after acquiring an additional 6,900 shares during the period. Forsta AP Fonden’s holdings in Seagate Technology were worth $14,596,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Seagate Technology during the fourth quarter valued at $498,363,000. National Pension Service lifted its position in shares of Seagate Technology by 298.7% during the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock valued at $274,625,000 after buying an additional 747,102 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Seagate Technology during the 4th quarter valued at $1,514,000. Northwestern Mutual Wealth Management Co. increased its holdings in Seagate Technology by 85.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 41,400 shares of the data storage provider’s stock worth $11,401,000 after acquiring an additional 19,070 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Seagate Technology by 719.2% in the 4th quarter. Intech Investment Management LLC now owns 52,968 shares of the data storage provider’s stock worth $14,587,000 after acquiring an additional 46,502 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $450.00 to $700.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Morgan Stanley boosted their price target on shares of Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Evercore raised their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Barclays lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $746.63.

Seagate Technology Trading Down 0.1%

Shares of STX opened at $879.80 on Friday. The business’s 50-day moving average price is $612.03 and its 200-day moving average price is $432.02. Seagate Technology Holdings PLC has a twelve month low of $116.28 and a twelve month high of $905.39. The stock has a market cap of $197.28 billion, a PE ratio of 83.47 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The company 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%. Seagate Technology’s revenue was up 44.1% compared to the same quarter last year. During the same period last year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared 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 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Insider Activity

In other news, Director Stephanie Tilenius sold 1,580 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the transaction, the director owned 10,664 shares of the company’s stock, valued at approximately $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction on 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 sale, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This trade represents a 32.00% 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. Over the last three months, insiders sold 142,437 shares of company stock worth $86,093,575. Company insiders own 0.79% of the company’s stock.

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.