Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 16,220 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 16,220 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $900.21, for a total transaction of $14,601,406.20. Following the sale, the chief executive officer owned 337,371 shares of the company’s stock, valued at $303,704,747.91. This trade represents a 4.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Stock Up 0.6%

STX stock traded up $5.35 during midday trading on Tuesday, reaching $926.61. 2,555,822 shares of the company’s stock traded hands, compared to its average volume of 4,153,224. The company has a market cap of $207.77 billion, a price-to-earnings ratio of 87.91 and a beta of 1.98. The firm’s fifty day moving average price is $621.76 and its 200-day moving average price is $437.45. 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 52 week low of $118.75 and a 52 week high of $953.72.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 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 analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.1 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. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,150 from $740 and reiterated a buy rating, signaling continued confidence in the company’s upside after the stock’s strong run.
• Positive Sentiment: Seagate agreed to a $175 million settlement over shareholder claims tied to alleged sales to Huawei, removing a legal overhang that had been a source of uncertainty for investors. Article Title
• Positive Sentiment: Recent coverage also highlighted Seagate as a stock favored by some billionaire investors, reinforcing the bullish sentiment around the name. Article Title
• Neutral Sentiment: Quarterly semiconductor-sector roundup articles featuring Seagate are mainly contextual and do not appear to add a major new catalyst for the stock. Article Title
• Neutral Sentiment: Another report noted that a major investor, Situational Awareness LP, sold its Seagate stake, but the article does not indicate a broad shift in fundamentals. Article Title

Analysts Set New Price Targets

Several analysts have recently issued reports on STX shares. Evercore upped their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Morgan Stanley upped their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Mizuho upped their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Argus upped their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Rosenblatt Securities upped their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $772.04.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in STX. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% in 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 during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% in 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 during the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology in the 4th quarter worth about $28,000. Avion Wealth boosted its holdings in shares of Seagate Technology by 343.5% in 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 during the last quarter. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology in the 4th quarter worth about $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.