1,809,661 Shares in Seagate Technology Holdings PLC $STX Purchased by Norges Bank

Norges Bank bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,809,661 shares of the data storage provider’s stock, valued at approximately $498,363,000.

Several other hedge funds have also recently bought and sold shares of the company. Gateway Investment Advisers LLC lifted its stake in Seagate Technology by 1.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after acquiring an additional 25 shares in the last quarter. Trajan Wealth LLC lifted its stake in Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock worth $365,000 after acquiring an additional 25 shares in the last quarter. EWA LLC lifted its holdings in Seagate Technology by 2.1% during the 4th quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock worth $377,000 after buying an additional 28 shares in the last quarter. SVB Wealth LLC lifted its holdings in Seagate Technology by 0.9% during the 4th quarter. SVB Wealth LLC now owns 3,347 shares of the data storage provider’s stock worth $922,000 after buying an additional 29 shares in the last quarter. Finally, Sovereign Financial Group Inc. lifted its holdings in Seagate Technology by 3.2% during the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock worth $293,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $879.80 on Monday. Seagate Technology Holdings PLC has a twelve month low of $116.28 and a twelve month high of $905.39. The firm’s fifty day simple moving average is $612.03 and its 200-day simple moving average is $432.99. The firm has a market capitalization of $197.28 billion, a price-to-earnings ratio of 83.47 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the business earned $1.90 EPS. The company’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $741.17, for a total value of $516,595.49. Following the sale, the executive vice president directly owned 324 shares in the company, valued at $240,139.08. This trade represents a 68.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 122,437 shares of company stock worth $78,398,375. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STX shares. Evercore increased their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Citigroup increased their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $746.63.

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.