Lansforsakringar Fondforvaltning AB publ Has $58.20 Million Stake in Seagate Technology Holdings PLC $STX

Key Points

• Lansforsakringar Fondforvaltning AB publ cut its Seagate Technology stake by 22.7% in Q1, but still held 148,559 shares worth about $58.2 million at quarter-end.
• Wall Street sentiment on Seagate remains broadly positive, with the stock carrying a Moderate Buy consensus and an average price target of $874.52, while several firms recently raised targets. New reports from Cantor Fitzgerald and Melius Research also pointed to further upside tied to AI infrastructure demand and tight memory supply.
• Seagate posted strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.74 per share. The company’s recent insider sales and plans to redeem exchangeable notes were also noted, but the overall backdrop remains favorable on earnings and AI-related demand.

Lansforsakringar Fondforvaltning AB publ lowered its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 22.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,559 shares of the data storage provider's stock after selling 43,551 shares during the period. Lansforsakringar Fondforvaltning AB publ owned 0.07% of Seagate Technology worth $58,199,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its position in Seagate Technology by 19.6% in the 1st quarter. Apollon Wealth Management LLC now owns 14,716 shares of the data storage provider's stock valued at $5,765,000 after buying an additional 2,412 shares during the last quarter. Red Door Wealth Management LLC acquired a new stake in shares of Seagate Technology in the 1st quarter valued at $205,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Seagate Technology by 112.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 5,244 shares of the data storage provider's stock worth $2,054,000 after acquiring an additional 2,781 shares during the last quarter. Gunderson Capital Management LLC acquired a new position in shares of Seagate Technology during the first quarter valued at $4,123,000. Finally, Cornerstone Wealth Group LLC lifted its stake in shares of Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock valued at $1,388,000 after acquiring an additional 19 shares during the period. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on STX. China Renaissance lifted their price objective on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Argus upped their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Susquehanna raised their target price on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Finally, Fox Advisors lowered shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $874.52.

Seagate Technology Price Performance

Shares of STX opened at $968.53 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 1 year low of $138.30 and a 1 year high of $1,145.00. The stock has a market cap of $217.17 billion, a P/E ratio of 91.89 and a beta of 2.04. The stock's 50-day moving average price is $827.45 and its two-hundred day moving average price is $535.71.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 1,005.65% and a net margin of 21.60%.The company's revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Seagate Technology News Roundup

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Seagate Technology to $1,300 from $1,000 and kept an overweight rating, signaling confidence that the stock still has room to run. Benzinga report on Cantor Fitzgerald upgrade
• Positive Sentiment: Melius Research initiated coverage with a buy rating and a $1,600 price target, reinforcing the view that Seagate could benefit further from AI infrastructure spending and tight memory supply. Yahoo Finance company news for Jun 29, 2026
• Positive Sentiment: Multiple articles highlighted Seagate as one of the leading AI infrastructure and memory stocks, with commentary pointing to strong earnings trends and structural demand from cloud and AI customers. Zacks article on AI infrastructure stocks
• Positive Sentiment: Seagate’s plan to redeem $150.7 million of exchangeable notes due 2028 should modestly improve the balance sheet and reduce future debt-related risk. Yahoo Finance article on debt redemption
• Neutral Sentiment: Some commentary suggested the stock may already reflect a lot of the good news, with one Seeking Alpha piece arguing Seagate is performing well but leaves limited upside from current levels. Seeking Alpha article on Seagate valuation
• Neutral Sentiment: Another market note said Seagate has benefited from a broader memory shortage and stronger pricing, but the article focused more on the industry backdrop than on a new company-specific catalyst. MarketBeat article on memory stocks

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the sale, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 141,069 shares of company stock valued at $107,161,712. Corporate insiders own 0.79% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.