Northwestern Mutual Wealth Management Co. Purchases 19,070 Shares of Seagate Technology Holdings PLC $STX

Northwestern Mutual Wealth Management Co. boosted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 85.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,400 shares of the data storage provider’s stock after purchasing an additional 19,070 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Seagate Technology were worth $11,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Salomon & Ludwin LLC lifted its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its position in 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. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology during the 4th quarter worth about $28,000. Avion Wealth lifted its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in Seagate Technology during the 4th quarter worth about $28,000. 92.87% of the stock is owned by institutional investors.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the transaction, the director directly owned 10,664 shares in the company, 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. In the last three months, insiders sold 122,437 shares of company stock valued at $78,398,375. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

STX has been the topic of several analyst reports. Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Evercore boosted their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Bank of America boosted their price target on shares of Seagate Technology from $840.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Barclays upped their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $754.96.

Seagate Technology Stock Up 4.7%

Seagate Technology stock opened at $921.26 on Tuesday. The stock has a market cap of $206.57 billion, a P/E ratio of 87.41 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a twelve month low of $116.78 and a twelve month high of $940.79. The company’s 50-day moving average price is $621.76 and its two-hundred day moving average price is $437.45.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current 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 issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

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.