Securian Asset Management Inc. Sells 4,360 Shares of Seagate Technology Holdings PLC $STX

Securian Asset Management Inc. reduced its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 42.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,900 shares of the data storage provider’s stock after selling 4,360 shares during the quarter. Securian Asset Management Inc.’s holdings in Seagate Technology were worth $1,625,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. National Pension Service increased its holdings in Seagate Technology by 28.0% in the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after acquiring an additional 54,722 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Seagate Technology in the 4th quarter worth approximately $23,882,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Seagate Technology in the 3rd quarter worth approximately $1,864,000. New York State Teachers Retirement System increased its holdings in Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after acquiring an additional 8,991 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Seagate Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after acquiring an additional 6,028 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Price Performance

NASDAQ:STX opened at $834.01 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The business’s 50-day simple moving average is $492.12 and its two-hundred day simple moving average is $378.05. The stock has a market cap of $187.01 billion, a PE ratio of 79.13 and a beta of 1.98. Seagate Technology Holdings PLC has a 52 week low of $100.00 and a 52 week high of $841.31.

Seagate Technology (NASDAQ:STX) last issued 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. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on STX shares. Susquehanna raised their price target on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group raised their price target on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised their price target on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, KeyCorp set a $500.00 price target on Seagate Technology in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $709.13.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 1,902 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the completion of the transaction, the chief financial officer directly owned 40,945 shares in the company, valued at approximately $31,527,650. This represents a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the transaction, the director owned 10,664 shares of the company’s stock, valued at $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 102,723 shares of company stock worth $53,301,684. Insiders own 0.79% of the company’s stock.

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.