47,100 Shares in Seagate Technology Holdings PLC $STX Acquired by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co bought a new position in Seagate Technology Holdings PLC (NASDAQ:STX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,100 shares of the data storage provider’s stock, valued at approximately $12,971,000.

Several other hedge funds have also modified their holdings of STX. Integrated Wealth Concepts LLC boosted its position 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 acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $262,000. Cerity Partners LLC boosted its position in shares of Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. boosted its position in shares of Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on STX shares. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. TD Cowen raised their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, BNP Paribas Exane raised their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $709.13.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Management scheduled to present at major conferences (J.P. Morgan May 18; TD Cowen May 27) — gives Seagate a platform to reinforce recent results and guidance, supporting continued retail and institutional interest. Seagate to Participate in Upcoming Investor Events
• Positive Sentiment: Earnings estimates moving higher — analysts have raised near-term EPS forecasts for STX, which often precedes further price gains as expectations catch up with strong results. Earnings Estimates Moving Higher for Seagate (STX): Time to Buy?
• Positive Sentiment: Zacks added STX to its #1 (Strong Buy) momentum list — a near-term technical/quant-driven endorsement that can attract momentum funds and traders. Best Momentum Stock to Buy for May 4th
• Positive Sentiment: Analyst outlooks improving — recent coverage notes that Seagate’s business prospects have “improved drastically,” which supports higher target prices and buy-side conviction. Forecast: Analysts Think Seagate Technology Holdings plc’s (NASDAQ:STX) Business Prospects Have Improved Drastically
• Neutral Sentiment: Positive features on long-term returns and growth case — articles highlighting 10?year returns and “3 reasons” growth arguments bolster investor narrative but are informational rather than immediate catalysts. Here’s How Much a $1000 Investment in Seagate Made 10 Years Ago Would Be Worth Today
• Negative Sentiment: High-profile caution from Jim Cramer — while he acknowledged Seagate’s strong quarter, he called the stock “really overextended” for him, a sentiment that can trigger profit?taking by some investors. Jim Cramer Says Stocks Like Seagate “Are Really Overextended” For Him

Seagate Technology Stock Up 1.5%

Shares of NASDAQ:STX opened at $738.17 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a fifty day simple moving average of $454.23 and a 200 day simple moving average of $358.04. The firm has a market cap of $165.52 billion, a PE ratio of 70.04 and a beta of 1.98. Seagate Technology Holdings PLC has a 12-month low of $91.92 and a 12-month high of $749.00.

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

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Insiders Place Their Bets

In related news, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total transaction of $8,414,600.00. Following the completion of the sale, the chief executive officer owned 355,591 shares of the company’s stock, valued at approximately $149,607,801.43. This trade represents a 5.32% 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 90 days, insiders sold 70,430 shares of company stock valued at $28,544,576. Insiders own 0.79% of the company’s stock.

About Seagate Technology

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.