Nomura Asset Management Co. Ltd. Increases Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Nomura Asset Management increased its stake in Seagate Technology by 10.2% in the fourth quarter, ending with 88,415 shares worth about $24.35 million.
• Seagate reported strong quarterly results, with EPS of $4.10 topping expectations and revenue of $3.11 billion beating estimates; revenue also rose 44.1% year over year. The company guided Q4 2026 EPS at 4.8 to 5.2.
• Analysts remain broadly positive on the stock, with several firms raising price targets and an average target of $754.96. Seagate also announced a quarterly dividend of $0.74 per share, payable July 7.

Nomura Asset Management Co. Ltd. raised its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,415 shares of the data storage provider's stock after acquiring an additional 8,207 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Seagate Technology were worth $24,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Salomon & Ludwin LLC raised its position in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth boosted its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 79 shares during the period. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Stephanie Tilenius sold 1,580 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total value of $1,211,243.80. Following the sale, the director owned 10,664 shares of the company's stock, valued at approximately $8,175,129.04. The trade was a 12.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Ci Lee sold 697 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the completion of the sale, the executive vice president directly owned 324 shares in the company, valued at $240,139.08. This represents a 68.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 122,437 shares of company stock worth $78,398,375. 0.79% of the stock is owned by corporate insiders.

Seagate Technology Trading Up 4.7%

Shares of STX stock opened at $921.26 on Tuesday. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 1 year low of $116.78 and a 1 year high of $940.79. The stock has a fifty day moving average of $621.76 and a two-hundred day moving average of $437.45. The firm has a market capitalization of $206.57 billion, a PE ratio of 87.41 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The firm's quarterly 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, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders 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 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Barclays upped their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. BNP Paribas Exane lifted their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Seagate Technology from $525.00 to $775.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $754.96.

About Seagate Technology

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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