KLP Kapitalforvaltning AS Acquires 2,200 Shares of Seagate Technology Holdings PLC $STX

Key Points

• KLP Kapitalforvaltning AS increased its stake in Seagate by 2.9%, buying 2,200 shares to hold 78,895 shares worth about $21.785 million.
• Multiple analysts raised ratings and targets, pushing consensus to a Moderate Buy with a consensus price target of $514.13 and several firms boosting targets into the $400–$530+ range.
• Seagate reported a quarterly EPS beat ($3.11 vs. $2.77) with revenue up 21.5% and the stock trading near record highs (~$580), though valuation, a high debt-to-equity ratio (7.63) and recent insider selling are notable risks.

KLP Kapitalforvaltning AS lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,895 shares of the data storage provider's stock after purchasing an additional 2,200 shares during the period. KLP Kapitalforvaltning AS's holdings in Seagate Technology were worth $21,785,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in STX. Integrated Wealth Concepts LLC increased its stake in shares of Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Seagate Technology in the second quarter worth about $262,000. Cerity Partners LLC increased its stake in Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after acquiring an additional 7,517 shares during the period. Sei Investments Co. increased its stake in Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after acquiring an additional 462 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STX shares. Wedbush boosted their price target on Seagate Technology from $290.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 23rd. Rosenblatt Securities boosted their price target on Seagate Technology from $370.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. BNP Paribas Exane boosted their price target on Seagate Technology from $430.00 to $530.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Zacks Research lowered Seagate Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Argus boosted their price target on Seagate Technology from $300.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $514.13.

Seagate Technology Trading Up 3.6%

STX stock opened at $579.88 on Thursday. Seagate Technology Holdings PLC has a 1-year low of $77.56 and a 1-year high of $586.00. The firm has a market cap of $126.46 billion, a P/E ratio of 65.60, a P/E/G ratio of 0.93 and a beta of 1.61. The business's 50 day moving average is $431.56 and its 200-day moving average is $340.81. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company posted $2.03 EPS. The company's revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 12.13 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, March 25th. Seagate Technology's dividend payout ratio is currently 33.48%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total value of $8,414,600.00. Following the sale, the chief executive officer directly owned 355,591 shares in the company, valued at approximately $149,607,801.43. This represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 20,195 shares of the company's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 112,223 shares of company stock worth $46,711,217. Insiders own 0.79% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Big analyst upgrade and higher price target from Barclays — Barclays moved STX to Overweight (buy) and lifted its price target to $625, signaling more upside tied to the HDD/AI cycle. Barclays Just Lifted Seagate Price Target From $425 to $625
• Positive Sentiment: Additional bullish analyst moves — Bank of America and other brokers raised price targets and coverage consensus has moved toward a “moderate buy,” adding upward momentum. Seagate Receives Average Recommendation of "Moderate Buy" from Brokerages
• Positive Sentiment: Fundamentals and AI demand — Recent commentary and reports point to strong AI-driven storage demand and revenue/earnings upside (recent quarters showed double‑digit revenue growth), underpinning the rally to record highs. Seagate Stock Upgraded To Buy Rating. Here's Why There Is 'Another Leg' To AI-Fueled Rally.
• Neutral Sentiment: Momentum and market coverage — Multiple market outlets (Zacks, MSN, Benzinga) are highlighting STX as a top momentum/growth stock, which can extend runs but also attracts short-term traders. Here's Why Seagate (STX) is a Strong Growth Stock
• Neutral Sentiment: Upcoming earnings and guidance scrutiny — Wall Street expects further earnings growth and Seagate has near-term guidance that investors will parse closely; beats could reinforce the rally, misses could reverse it. Seagate (STX) Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: Valuation and balance-sheet risks — Commentators warn the stock is richly valued after a multi-hundred-percent run; Seagate’s high debt-to-equity ratio and atypical ROE metrics are risk factors if demand or pricing softens. Is Western Digital Stock a Buy, Sell, or Hold After Hitting a 52-Week High?
• Negative Sentiment: Mixed analyst signals — Some firms (UBS noted in recent coverage) remain neutral or show less upside, leaving the path dependent on execution and AI capacity demand sustaining high growth. Benzinga coverage (UBS price-target mention)

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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