Seagate Technology Holdings PLC $STX Position Reduced by Andra AP fonden

Key Points

• Andra AP fonden reduced its Seagate Technology position by 11.5% in the second quarter, selling 3,760 shares and retaining 28,927 shares valued at approximately $27.9 million. Institutional investors and hedge funds collectively own 92.87% of STX.
• Seagate reported quarterly EPS of $5.71, exceeding estimates of $5.10, while revenue rose 48.5% year over year to $3.63 billion. The company also issued Q1 2027 EPS guidance of $7.10–$7.50.
• Analysts maintain a largely positive outlook, with 22 Buy ratings, one Strong Buy, and an average price target of $986. Seagate declared a quarterly dividend of $0.74, equivalent to an annualized yield of approximately 0.3%.

Andra AP fonden trimmed its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 11.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,927 shares of the data storage provider's stock after selling 3,760 shares during the period. Andra AP fonden's holdings in Seagate Technology were worth $27,915,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STX. Silicon Valley Capital Partners lifted its holdings in shares of Seagate Technology by 1,988.5% in the second quarter. Silicon Valley Capital Partners now owns 543 shares of the data storage provider's stock valued at $524,000 after buying an additional 517 shares during the period. Altar Rock LLC bought a new stake in Seagate Technology in the second quarter worth about $260,000. Wellington Altus USA Inc. lifted its holdings in Seagate Technology by 137.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 140 shares of the data storage provider's stock valued at $135,000 after acquiring an additional 81 shares during the last quarter. Bouchey Financial Group Ltd. bought a new position in shares of Seagate Technology during the 2nd quarter valued at about $377,000. Finally, Miramontes Capital LLC bought a new position in shares of Seagate Technology during the 2nd quarter valued at about $335,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 2.2%

NASDAQ:STX traded up $18.98 on Tuesday, hitting $896.31. 2,782,762 shares of the company's stock traded hands, compared to its average volume of 4,341,724. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 1 year low of $209.00 and a 1 year high of $1,145.00. The firm has a 50-day moving average price of $842.44 and a 200-day moving average price of $745.49. The company has a market cap of $203.81 billion, a PE ratio of 64.76 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm earned $2.59 earnings per share. The firm's revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio is 21.33%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Bank of America upped their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Fox Advisors lowered Seagate Technology from an "overweight" rating to an "equal weight" rating in a research note on Monday, June 22nd. Finally, Wedbush lifted their target price on Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $986.00.

Insider Transactions at Seagate Technology

In other news, EVP John Morris sold 15,466 shares of the firm's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the sale, the executive vice president directly owned 31,132 shares of the company's stock, valued at $24,038,573.80. This trade represents a 33.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer owned 378,108 shares of the company's stock, valued at approximately $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 457,605 shares of company stock valued at $370,403,041 in the last three months. 0.51% of the stock is currently owned by insiders.

Seagate Technology Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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