Handelsbanken Fonder AB Sells 15,428 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Handelsbanken Fonder AB reduced its Seagate Technology stake by 11.9% in the fourth quarter, selling 15,428 shares and leaving it with 113,893 shares valued at about $31.4 million.
• Insider selling has been notable, including CEO William D. Mosley and EVP Ban Seng Teh, with insiders selling 118,283 shares worth nearly $66 million over the last 90 days.
• Analysts remain broadly positive on STX, with multiple price-target hikes and a consensus rating of “Moderate Buy,” though recent commentary also flagged concerns that Seagate may not expand capacity fast enough to fully capture AI-related demand.

Handelsbanken Fonder AB lessened its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 113,893 shares of the data storage provider's stock after selling 15,428 shares during the period. Handelsbanken Fonder AB owned 0.05% of Seagate Technology worth $31,365,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Gateway Investment Advisers LLC grew its holdings in Seagate Technology by 1.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after acquiring an additional 25 shares during the last quarter. EWA LLC grew its holdings in Seagate Technology by 2.1% in the 4th quarter. EWA LLC now owns 1,370 shares of the data storage provider's stock worth $377,000 after acquiring an additional 28 shares during the last quarter. SVB Wealth LLC grew its holdings in Seagate Technology by 0.9% in the 4th quarter. SVB Wealth LLC now owns 3,347 shares of the data storage provider's stock worth $922,000 after acquiring an additional 29 shares during the last quarter. Sovereign Financial Group Inc. grew its holdings in Seagate Technology by 3.2% in the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider's stock worth $293,000 after acquiring an additional 33 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in Seagate Technology by 0.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider's stock worth $1,500,000 after acquiring an additional 33 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares of the company's stock, valued at $152,779,151.07. This trade represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president directly owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. 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 118,283 shares of company stock worth $65,989,618 over the last 90 days. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Citigroup raised their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Susquehanna increased their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Sanford C. Bernstein raised their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Morgan Stanley raised their price objective on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Robert W. Baird raised their price objective on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $733.71.

More 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

Seagate Technology Trading Down 1.0%

Shares of NASDAQ STX opened at $733.35 on Wednesday. Seagate Technology Holdings PLC has a 1 year low of $103.73 and a 1 year high of $841.31. The stock has a market cap of $164.44 billion, a P/E ratio of 69.58 and a beta of 1.98. The firm has a 50-day moving average of $541.33 and a 200 day moving average of $401.33. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

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

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors 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 yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

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.

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