Healthcare of Ontario Pension Plan Trust Fund Acquires 284,593 Shares of Seagate Technology Holdings PLC $STX

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 3,380.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 293,012 shares of the data storage provider’s stock after buying an additional 284,593 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.13% of Seagate Technology worth $80,693,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Seagate Technology by 1.6% during the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after purchasing an additional 442,749 shares in the last quarter. State Street Corp boosted its position in shares of Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after purchasing an additional 94,527 shares in the last quarter. Morgan Stanley boosted its position in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after purchasing an additional 234,436 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after purchasing an additional 243,551 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares in the company, valued at $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 160,629 shares of company stock worth $112,739,671 over the last three months. Company insiders own 0.79% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $931.04 on Monday. The stock has a fifty day simple moving average of $709.54 and a two-hundred day simple moving average of $477.38. The stock has a market capitalization of $208.77 billion, a price-to-earnings ratio of 88.33 and a beta of 2.04. Seagate Technology Holdings PLC has a 12-month low of $124.63 and a 12-month high of $966.80. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STX shares. Wedbush lifted their price target on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Sanford C. Bernstein lifted their price target on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Susquehanna lifted their price target on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. TD Cowen lifted their price target on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price target on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $820.63.

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.