Seagate Technology (NASDAQ:STX) Trading Down 6.8% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price fell 6.8% during trading on Friday . The company traded as low as $835.50 and last traded at $851.69. Approximately 5,080,386 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 4,313,049 shares. The stock had previously closed at $913.36.

Analyst Ratings Changes

STX has been the subject of several research reports. 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 report on Wednesday, April 29th. JPMorgan Chase & Co. raised 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, June 11th. Citigroup lifted their price target on Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Loop Capital upped their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group increased their price objective on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology Stock Down 6.8%

The company has a market capitalization of $190.97 billion, a P/E ratio of 80.81 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company has a 50 day moving average of $892.03 and a 200-day moving average of $608.50.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 9,343 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total value of $8,636,856.06. Following the completion of the sale, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91. Following the sale, the executive vice president directly owned 4,290 shares in the company, valued at $3,776,015.10. The trade was a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC boosted its position in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares in the last quarter. Salomon & Ludwin LLC raised its position 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 acquiring an additional 51 shares in the last quarter. WealthCollab LLC raised its position in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Seagate Technology in the 1st quarter valued at approximately $39,000. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. 92.87% of the stock is currently 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.