Seagate Technology (NASDAQ:STX) CFO Gianluca Romano Sells 9,076 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CFO Gianluca Romano sold 9,076 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $7,708,700.60. Following the completion of the sale, the chief financial officer directly owned 22,997 shares in the company, valued at approximately $19,532,501.95. The trade was a 28.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gianluca Romano also recently made the following trade(s):

• On Friday, August 7th, Gianluca Romano sold 7,240 shares of Seagate Technology stock. The stock was sold at an average price of $781.64, for a total value of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 14,091 shares of Seagate Technology stock. The shares were sold at an average price of $811.25, for a total value of $11,431,323.75.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The stock was sold at an average price of $845.12, for a total value of $743,705.60.
• On Friday, June 12th, Gianluca Romano sold 903 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value of $794,811.57.
• On Wednesday, June 10th, Gianluca Romano sold 1,350 shares of Seagate Technology stock. The shares were sold at an average price of $821.76, for a total value of $1,109,376.00.

Seagate Technology Stock Down 6.5%

Shares of NASDAQ:STX opened at $794.65 on Tuesday. The firm has a market capitalization of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. Seagate Technology Holdings PLC has a 1 year low of $158.68 and a 1 year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm’s 50-day moving average is $888.74 and its two-hundred day moving average is $685.82.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts predict that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared 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 (DPR) is currently 21.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STX. Argus upped their price objective on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their target price on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. BNP Paribas Exane upped their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. The Goldman Sachs Group increased their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Several executive transactions, including sales by EVP John Christopher Morris and EVP Ban Seng Teh, were conducted under pre-arranged Rule 10b5-1 trading plans. This may reduce the extent to which the sales are interpreted as discretionary signals about Seagate’s near-term outlook.
• Neutral Sentiment: Seagate’s CEO William D. Mosley sold 18,138 shares for approximately $15.4 million, reducing his direct ownership by 5.73%. He still held 298,483 shares after the transaction. SEC filing for CEO stock sale
• Neutral Sentiment: CFO Gianluca Romano sold 9,076 shares for approximately $7.7 million, cutting his direct holdings by 28.30%, but retained 22,997 shares. SEC filing for CFO stock sale
• Negative Sentiment: Multiple insiders sold shares within two trading days at prices around $836 to $853. The transactions totaled roughly $38.4 million and included substantial reductions in holdings by several executive vice presidents, potentially weighing on sentiment. Seagate Technology slides amid broader tech sector weakness
• Negative Sentiment: The immediate broader-market catalyst was weakness across the technology sector, which pressured Seagate along with other high-beta technology stocks. The company’s elevated valuation and beta may amplify the impact of sector-wide selling.

Institutional Trading of Seagate Technology

A number of institutional investors have recently bought and sold shares of STX. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Concord Wealth Partners purchased a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Retirement Wealth Solutions LLC raised its holdings in Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings 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 purchasing an additional 15 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Seagate Technology during the 4th quarter worth approximately $31,000. 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.