Seagate Technology (NASDAQ:STX) Trading Down 1.4% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price traded down 1.4% on Monday . The stock traded as low as $786.00 and last traded at $800.99. Approximately 4,061,224 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 4,442,843 shares. The stock had previously closed at $812.76.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Argus upped their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Melius Research began coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective on the stock. Wells Fargo & Company increased their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, Mizuho upped their price target on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Down 1.4%

The business’s 50-day simple moving average is $894.71 and its 200-day simple moving average is $648.12. The company has a market cap of $181.54 billion, a PE ratio of 57.71 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the company posted $2.59 EPS. Seagate Technology’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is presently 21.33%.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 149,638 shares of company stock worth $126,692,095. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Trust Co. of Vermont acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at $54,000. Annis Gardner Whiting Capital Advisors LLC increased its position in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares in the last quarter. WealthCollab LLC raised its holdings in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Seagate Technology in the first quarter worth about $39,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Company Profile

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.