Andra AP fonden Sells 3,760 Shares of Seagate Technology Holdings PLC $STX

Andra AP fonden trimmed its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 11.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,927 shares of the data storage provider’s stock after selling 3,760 shares during the period. Andra AP fonden’s holdings in Seagate Technology were worth $27,915,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC increased its holdings in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. WealthCollab LLC raised its position in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Seagate Technology in the fourth quarter worth $37,000. Finally, McMillan Office Inc. bought a new stake in shares of Seagate Technology during the 1st quarter worth $39,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on STX shares. Melius Research started coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price on the stock. Argus raised their price target on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Bank of America lifted their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Wells Fargo & Company boosted their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Mizuho increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Insider Buying and Selling at Seagate Technology

In related news, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 15,466 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total value of $11,942,071.90. Following the transaction, the executive vice president owned 31,132 shares of the company’s stock, valued at $24,038,573.80. This trade represents a 33.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 457,605 shares of company stock worth $370,403,041 over the last three months. 0.51% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Performance

STX stock traded up $18.98 during trading on Tuesday, reaching $896.31. 2,782,762 shares of the stock were exchanged, compared to its average volume of 4,341,724. Seagate Technology Holdings PLC has a twelve month low of $209.00 and a twelve month high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $203.81 billion, a P/E ratio of 64.76 and a beta of 2.06. The stock has a 50 day simple moving average of $842.44 and a 200-day simple moving average of $745.49.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the firm posted $2.59 EPS. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s payout ratio is currently 21.33%.

Seagate Technology Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.