Handelsbanken Fonder AB Sells 54,642 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Handelsbanken Fonder AB cut its Seagate Technology stake by 33.3%, selling 54,642 shares and retaining 109,611 shares valued at approximately $105.8 million. Institutional investors collectively own 92.87% of the company.
• Seagate reported stronger-than-expected quarterly results, with EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion, up 48.5% year over year. The company also issued fiscal Q1 2027 EPS guidance of $7.10–$7.50.
• Analysts maintain a bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $986. Meanwhile, insiders sold about 149,638 shares worth $126.7 million over the past 90 days, and Seagate declared a quarterly dividend of $0.74 per share.

Handelsbanken Fonder AB lessened its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 33.3% during 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 quarter. Handelsbanken Fonder AB's holdings in Seagate Technology were worth $105,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. PFA Pension Forsikringsaktieselskab purchased a new position in Seagate Technology during the fourth quarter valued at approximately $23,882,000. New York State Teachers Retirement System increased its stake in shares of Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after purchasing an additional 8,991 shares in the last quarter. Praxis Investment Management Inc. raised its position in shares of Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after purchasing an additional 2,389 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after purchasing an additional 6,028 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of Seagate Technology by 25.3% during the 4th quarter. Caprock Group LLC now owns 18,248 shares of the data storage provider's stock valued at $5,043,000 after buying an additional 3,680 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the transaction, the chief financial officer owned 42,860 shares of the company's stock, valued at $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 149,638 shares of company stock worth $126,692,095. Company insiders own 0.79% of the company's stock.

Seagate Technology Stock Down 1.4%

STX opened at $800.99 on Tuesday. The company has a market capitalization of $181.54 billion, a PE ratio of 57.71 and a beta of 2.06. The firm has a 50-day simple moving average of $892.31 and a two-hundred day simple moving average of $651.47. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 52 week low of $151.23 and a 52 week high of $1,145.00.

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

Seagate Technology Announces Dividend

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 paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's payout ratio is presently 21.33%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Loop Capital upped their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a report on Friday, May 15th. UBS Group raised their price target on Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Zacks Research upgraded Seagate Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Barclays upped their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Finally, Mizuho increased their target price on Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $986.00.

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.

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