KLP Kapitalforvaltning AS Sells 1,900 Shares of Seagate Technology Holdings PLC $STX

Key Points

• KLP Kapitalforvaltning AS sold 1,900 shares of Seagate Technology Holdings PLC, reducing its holdings by 2.5% to 73,295 shares valued at approximately $10.63 million.
• Seagate's stock has seen a 1.2% decline, currently trading around $221.70, with a market capitalization of $47.22 billion and a P/E ratio of 32.75.
• The company recently announced a quarterly dividend of $0.72 per share, with an annualized yield of 1.3% and a dividend payout ratio of 42.54%.

KLP Kapitalforvaltning AS decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,295 shares of the data storage provider's stock after selling 1,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Seagate Technology were worth $10,631,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in shares of Seagate Technology in the first quarter worth about $31,000. Bruce G. Allen Investments LLC boosted its stake in shares of Seagate Technology by 28.1% in the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock worth $60,000 after acquiring an additional 92 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Seagate Technology by 30.2% in the second quarter. TD Private Client Wealth LLC now owns 457 shares of the data storage provider's stock worth $66,000 after acquiring an additional 106 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares during the period. Finally, Olistico Wealth LLC bought a new position in shares of Seagate Technology in the second quarter worth about $68,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Down 1.2%

STX opened at $221.70 on Friday. The stock's fifty day moving average is $189.90 and its two-hundred day moving average is $139.52. The company has a market capitalization of $47.22 billion, a P/E ratio of 32.75, a PEG ratio of 1.00 and a beta of 1.63. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.Seagate Technology's quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is 42.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna upped their price objective on Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research note on Wednesday, July 30th. Bank of America increased their price target on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of Seagate Technology in a research note on Wednesday. Finally, TD Cowen increased their price target on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $198.58.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 3,732 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the sale, the executive vice president owned 4,172 shares of the company's stock, valued at approximately $806,447.60. This trade represents a 47.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the sale, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. This trade represents a 2.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,210 shares of company stock worth $14,146,016. 0.79% of the stock is currently owned by company insiders.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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