FMR LLC Discloses 6.625% Passive Stake in Seagate Technology
Ticker: STX · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1137789
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-stake, SC-13G
TL;DR
**FMR LLC just revealed a 6.625% passive stake in Seagate, a bullish sign from a big player.**
AI Summary
FMR LLC, a major investment management firm, and its Chair and CEO, Abigail P. Johnson, have disclosed a significant passive stake in Seagate Technology Holdings plc (STX). As of December 31, 2023, FMR LLC beneficially owns 13,882,967 shares of common stock, representing 6.625% of the company. This filing indicates a substantial, but passive, investment by a prominent institutional investor, suggesting confidence in Seagate's long-term prospects without seeking to influence management.
Why It Matters
This filing signals that a major institutional investor, FMR LLC, sees value in Seagate Technology, which can be a positive indicator for current and potential shareholders.
Risk Assessment
Risk Level: low — This is a passive investment by a large institution, indicating confidence rather than a disruptive activist stake.
Analyst Insight
Investors might view this as a vote of confidence from a major institutional investor, potentially signaling a stable long-term outlook for Seagate Technology Holdings plc. It could encourage further research into Seagate's fundamentals.
Key Numbers
- 13,882,967 — Shares Beneficially Owned (Total common stock shares of Seagate Technology Holdings plc owned by FMR LLC and Abigail P. Johnson)
- 6.625% — Percentage of Class (The percentage of Seagate Technology Holdings plc's common stock beneficially owned by FMR LLC and Abigail P. Johnson)
- 0000315066-24-001499 — Accession Number (Unique identifier for this specific SEC filing)
- 20240209 — Filed As Of Date (The date this SC 13G filing was officially submitted to the SEC)
- G7997R103 — CUSIP Number (Unique identification number for Seagate Technology Holdings plc's common stock)
Key Players & Entities
- FMR LLC (company) — reporting person, parent holding company
- Seagate Technology Holdings plc (company) — issuer of the securities
- Abigail P. Johnson (person) — reporting person, associated with FMR LLC
- Delaware (company) — state of incorporation for FMR LLC
- United States of America (company) — citizenship of Abigail P. Johnson
Forward-Looking Statements
- Seagate Technology Holdings plc stock may experience a slight positive sentiment boost due to institutional confidence. (Seagate Technology Holdings plc) — medium confidence, target: Q1 2024
FAQ
Who is the primary reporting person in this SC 13G filing?
The primary reporting person in this SC 13G filing is FMR LLC, as stated in Item 1 of the filing.
What percentage of Seagate Technology Holdings plc's common stock does FMR LLC beneficially own?
FMR LLC beneficially owns 6.625% of Seagate Technology Holdings plc's common stock, as indicated in Item 11 of the filing for both FMR LLC and Abigail P. Johnson.
What is the total number of shares beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each report beneficial ownership of 13,882,967 shares, as shown in Item 7 for both reporting persons.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing.
What is the CUSIP number for the securities reported in this filing?
The CUSIP number for the common stock of Seagate Technology Holdings plc is G7997R103, as stated in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding Seagate Technology Holdings plc (STX).