Swedbank AB Grows Stock Holdings in Seagate Technology Holdings PLC $STX

Key Points

• Swedbank AB significantly increased its Seagate stake, lifting holdings by 67.6% in the first quarter to 709,160 shares worth about $277.8 million. Institutional investors overall still own the vast majority of Seagate’s stock, at 92.87%.
• Seagate reported strong quarterly results, with EPS of $4.10 beating estimates and revenue rising 44.1% year over year to $3.11 billion. The company also gave Q4 2026 EPS guidance of 4.8 to 5.2.
• Analysts and insiders remain active around the stock: several firms raised price targets, including Citigroup to $1,150, while insiders have sold shares in recent months. Seagate also announced a quarterly dividend of $0.74 per share, payable July 7.

Swedbank AB lifted its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 67.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 709,160 shares of the data storage provider's stock after purchasing an additional 285,949 shares during the quarter. Swedbank AB owned about 0.33% of Seagate Technology worth $277,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its stake in shares of Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Seagate Technology in the 2nd quarter worth about $262,000. Cerity Partners LLC raised its position in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after purchasing an additional 7,517 shares during the last quarter. Sei Investments Co. boosted its stake in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after purchasing an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after purchasing an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $57.53 during trading on Tuesday, hitting $810.73. 1,448,684 shares of the company's stock were exchanged, compared to its average volume of 4,218,937. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a 52-week low of $138.30 and a 52-week high of $1,145.00. The business's 50-day simple moving average is $858.93 and its 200 day simple moving average is $556.28. The company has a market cap of $181.79 billion, a price-to-earnings ratio of 76.97 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 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 for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the firm earned $1.90 EPS. The firm's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. 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 payout ratio is 28.08%.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were 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 directly owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last three months. Insiders own 0.79% of the company's stock.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate was highlighted alongside other growth names as a potential July buy, with AI demand and easing inflation fears improving sentiment toward the stock.
• Positive Sentiment: BofA recently raised its price target on Seagate to $1,150 and kept a Buy rating, reinforcing bullish expectations for the company’s hard-drive business and margin outlook.
• Positive Sentiment: Memory and storage stocks rebounded as analysts pointed to improving pricing trends and durable AI-related demand, which is lifting the entire group, including Seagate.
• Positive Sentiment: Seagate’s latest earnings report showed strong revenue growth and expanding margins, supporting the view that the company is benefiting from enterprise and AI storage demand. Article: Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore
• Neutral Sentiment: Some commentary warned that the recent memory-stock pullback reflects valuation fatigue and volatility, so investors may continue to see sharp swings even if the long-term demand story remains intact.

Analysts Set New Price Targets

STX has been the subject of several research reports. Citigroup boosted their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. 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 report on Wednesday, April 29th. Zacks Research cut Seagate Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Mizuho boosted their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, TD Cowen increased their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $880.52.

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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