Securian Asset Management Inc. Trims Stake in Seagate Technology Holdings PLC $STX

Key Points

• Securian Asset Management cut its Seagate Technology stake by 42.5% in the fourth quarter, leaving it with 5,900 shares valued at about $1.625 million.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue of $3.11 billion topping expectations, while raising its Q4 2026 guidance to $4.80-$5.20 EPS.
• Wall Street sentiment remains positive overall, with analysts assigning a Moderate Buy rating and a consensus price target of $709.13, even as insider selling has been notable in recent months.

Securian Asset Management Inc. decreased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 42.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,900 shares of the data storage provider's stock after selling 4,360 shares during the period. Securian Asset Management Inc.'s holdings in Seagate Technology were worth $1,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC grew its holdings 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 worth $27,000 after acquiring an additional 51 shares during the period. Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology in the 4th quarter worth approximately $28,000. Concord Wealth Partners purchased a new stake in shares of Seagate Technology in the 4th quarter worth approximately $28,000. Avion Wealth grew its stake in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Seagate Technology in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on STX shares. Mizuho upped their price target on Seagate Technology from $565.00 to $700.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. UBS Group upped their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Rosenblatt Securities upped their price target on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wedbush upped their price target on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Finally, Argus upped their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $709.13.

Seagate Technology Stock Performance

STX stock opened at $834.01 on Tuesday. The stock has a market capitalization of $187.01 billion, a PE ratio of 79.13 and a beta of 1.98. Seagate Technology Holdings PLC has a 12-month low of $100.00 and a 12-month high of $841.31. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock's 50 day simple moving average is $492.12 and its 200 day simple moving average is $378.05.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio is presently 28.08%.

Insider Activity

In other news, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 102,723 shares of company stock worth $53,301,684. Insiders own 0.79% of the company's stock.

Seagate Technology 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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