Seagate Technology (NASDAQ:STX) Stock Price Down 10.4% After Insider Selling

Seagate Technology Holdings PLC (NASDAQ:STX) was down 10.4% during trading on Thursday after an insider sold shares in the company. The company traded as low as $795.66 and last traded at $820.16. 6,262,937 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 4,249,854 shares. The stock had previously closed at $915.19.

Specifically, CEO William D. Mosley sold 20,657 shares of Seagate Technology stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total transaction of $18,807,785.36. Following the completion of the sale, the chief executive officer owned 320,860 shares of the company’s stock, valued at $292,136,612.80. This trade represents a 6.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the transaction, the chief executive officer owned 311,517 shares in the company, valued at approximately $287,972,545.14. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several analysts recently issued reports on STX shares. Rosenblatt Securities increased their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein boosted their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Melius Research assumed coverage on Seagate Technology in a research report on Monday. They issued a “buy” rating and a $1,600.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $880.52.

Key Seagate Technology News

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

• Positive Sentiment: Bank of America raised its price target on Seagate Technology to $1,150 from $1,000 and maintained a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Zacks highlighted Seagate as a strong growth and momentum name, and separately upgraded the stock to a Zacks Rank #1 (Strong Buy), which may support investor sentiment. Article: Seagate (STX) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Zacks also said Seagate has compelling growth attributes and strong momentum, while noting its data center business is benefiting from cloud demand, Mozaic adoption, and long-term supply agreements through fiscal 2027. Article: Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Neutral Sentiment: Seagate CEO William D. Mosley disclosed two pre-arranged Rule 10b5-1 stock sales totaling 30,000 shares. Because the trades were planned in advance, they are not necessarily a negative operational signal, but they can still weigh on sentiment. Article: SEC Form 4 Filing
• Neutral Sentiment: Recent commentary also pointed to Seagate’s strong data center momentum, which remains a core long-term growth driver for the business. Article: Can Seagate’s Data Center Business Maintain its Growth Momentum?
• Negative Sentiment: Shares of Seagate and other memory stocks were hit by renewed fears of a memory supply glut, prompting a broad selloff across the group.

Seagate Technology Stock Performance

The stock has a market cap of $183.90 billion, a P/E ratio of 77.81 and a beta of 2.04. The firm has a 50 day moving average of $843.31 and a two-hundred day moving average of $544.68. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s payout ratio is 28.08%.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position in 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 purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth lifted its stake in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new stake in Seagate Technology during the fourth quarter worth about $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.