Swedbank AB Raises Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Swedbank AB increased its stake in Seagate Technology by 15.8%, holding 44,943 shares valued at approximately $6.49 million as of the latest SEC filing.
• Analysts have raised their price targets for Seagate Technology, with the highest increase from $160 to $245, indicating a strong consensus rating of "Moderate Buy".
• Seagate Technology announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.3%, to be paid on October 9th.

Swedbank AB lifted its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 15.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,943 shares of the data storage provider's stock after acquiring an additional 6,148 shares during the period. Swedbank AB's holdings in Seagate Technology were worth $6,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in STX. Ameriflex Group Inc. purchased a new position in Seagate Technology during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC purchased a new position in Seagate Technology during the fourth quarter worth approximately $27,000. Wayfinding Financial LLC purchased a new position in Seagate Technology during the first quarter worth approximately $31,000. Bruce G. Allen Investments LLC raised its position in Seagate Technology by 28.1% in the second quarter. Bruce G. Allen Investments LLC now owns 419 shares of the data storage provider's stock valued at $60,000 after purchasing an additional 92 shares during the period. Finally, Golden State Wealth Management LLC raised its position in Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $8.10 on Monday, hitting $229.33. 5,239,989 shares of the company's stock were exchanged, compared to its average volume of 3,680,065. The firm's 50-day moving average is $168.29 and its 200 day moving average is $127.03. The company has a market capitalization of $48.84 billion, a PE ratio of 30.60, a P/E/G ratio of 1.28 and a beta of 1.53. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $230.82.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.14. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio is 42.54%.

Analysts Set New Price Targets

A number of equities research analysts have commented on STX shares. The Goldman Sachs Group started coverage on Seagate Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $170.00 target price on the stock. Citigroup lifted their target price on Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Robert W. Baird boosted their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Mizuho boosted their price objective on Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a report on Friday. Finally, Wall Street Zen downgraded Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.47.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares of the company's stock, valued at $73,632,720. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 3,732 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $193.30, for a total value of $721,395.60. Following the completion of the sale, the executive vice president directly owned 4,172 shares of the company's stock, valued at approximately $806,447.60. This trade represents a 47.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,935 shares of company stock worth $12,289,616. Insiders own 0.79% of the company's stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.