Northwestern Mutual Wealth Management Co. Purchases 19,070 Shares of Seagate Technology Holdings PLC $STX

Key Points

• Northwestern Mutual Wealth Management increased its Seagate Technology stake by 85.4% in the fourth quarter, buying 19,070 additional shares and bringing its total holding to 41,400 shares worth about $11.4 million.
• Wall Street sentiment is broadly positive, with analysts holding a consensus “Moderate Buy” rating and an average price target of $754.96; several firms recently raised their targets, including Sanford C. Bernstein to $1,000.
• Seagate reported strong quarterly results, posting EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, while also announcing a $0.74 quarterly dividend to be paid on July 7.

Northwestern Mutual Wealth Management Co. grew its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 85.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,400 shares of the data storage provider's stock after acquiring an additional 19,070 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Seagate Technology were worth $11,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC raised its stake in shares of Seagate Technology by 719.2% in the fourth quarter. Intech Investment Management LLC now owns 52,968 shares of the data storage provider's stock valued at $14,587,000 after acquiring an additional 46,502 shares during the last quarter. Foundations Investment Advisors LLC raised its position in Seagate Technology by 42.7% in the 4th quarter. Foundations Investment Advisors LLC now owns 2,184 shares of the data storage provider's stock worth $601,000 after purchasing an additional 654 shares during the last quarter. Baker Avenue Asset Management LP raised its position in Seagate Technology by 1,255.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 9,327 shares of the data storage provider's stock worth $2,569,000 after purchasing an additional 10,134 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Seagate Technology by 42.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 4,015 shares of the data storage provider's stock worth $1,105,000 after purchasing an additional 1,203 shares during the last quarter. Finally, Arista Wealth Management LLC bought a new position in Seagate Technology in the 4th quarter worth approximately $330,000. Institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on STX shares. Susquehanna boosted their price objective on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Jefferies Financial Group restated a "hold" rating on shares of Seagate Technology in a research report on Wednesday, February 4th. BNP Paribas Exane boosted their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Sanford C. Bernstein boosted their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Citigroup boosted their price objective on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $754.96.

Seagate Technology Price Performance

Shares of STX stock opened at $921.26 on Tuesday. Seagate Technology Holdings PLC has a 12-month low of $116.78 and a 12-month high of $940.79. The firm has a market capitalization of $206.57 billion, a price-to-earnings ratio of 87.41 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm has a fifty day moving average of $621.76 and a 200-day moving average of $437.45.

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, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. 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 business earned $1.90 EPS. The firm's 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. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares in the company, valued at approximately $33,173,004.34. This represents a 34.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the stock in a transaction dated 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 transaction, the director owned 10,664 shares of the company's stock, valued at approximately $8,175,129.04. This trade represents a 12.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 122,437 shares of company stock worth $78,398,375. Company 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.

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