5 Best Stocks to Buy for Long Term According to ValueAct Capital

3. Seagate Technology plc (NASDAQ:STX)

ValueAct Capital’s Stake Value: $1,207,993,000

Percentage of ValueAct Capital’s 13F Portfolio: 16.61%

Number of Hedge Fund Holders: 32

Seagate Technology plc (NASDAQ:STX) provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. As of March 31, ValueAct Capital owns 13.43 million shares of the company which amounts to a stake value of $1.20 billion. The investment covers 16.61% of the activist hedge fund’s 13F portfolio.

On July 5, Benchmark analyst Mark Miller trimmed his price target on Seagate Technology plc (NASDAQ:STX) to $93 from $100 but reiterated a Buy rating on the shares. Moreover, as of July 5, Seagate Technology plc (NASDAQ:STX) has a trailing-twelve-month PE ratio of 8.80 and is offering a forward dividend yield of 4.05%.

At the end of Q1 2022, 32 hedge funds were eager of Seagate Technology plc (NASDAQ:STX) with stakes worth $1.82 billion in the company. This is compared to 28 positions in the previous quarter with stakes worth $2.80 billion.