Andra AP fonden Sells 260,309 Shares of Seagate Technology Holdings PLC $STX

Andra AP fonden trimmed its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 87.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,691 shares of the data storage provider’s stock after selling 260,309 shares during the period. Andra AP fonden’s holdings in Seagate Technology were worth $9,133,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STX. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. MTM Investment Management LLC bought a new stake in shares of Seagate Technology in the second quarter valued at about $29,000. First Horizon Corp bought a new position in shares of Seagate Technology during the third quarter valued at approximately $33,000. Raiffeisen Bank International AG purchased a new stake in shares of Seagate Technology during the 3rd quarter worth $33,000. Finally, Physician Wealth Advisors Inc. grew its stake in Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after purchasing an additional 45 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Down 0.4%

STX stock opened at $407.84 on Friday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $459.84. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The firm has a 50-day simple moving average of $359.99 and a 200-day simple moving average of $275.46. The stock has a market capitalization of $88.94 billion, a P/E ratio of 46.14, a P/E/G ratio of 0.92 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Insider Transactions at Seagate Technology

In other news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares in the company, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 89,801 shares of company stock valued at $32,360,491 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on STX shares. BNP Paribas Exane increased their price target on shares of Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Argus upped their price target on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Wells Fargo & Company upped their target price on Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $447.35.

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.