Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells $24,488,400.00 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the completion of the sale, the chief executive officer directly owned 295,168 shares of the company’s stock, valued at approximately $240,939,735.04. The trade was a 9.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

STX traded down $9.93 during midday trading on Thursday, hitting $798.61. 2,963,251 shares of the company traded hands, compared to its average volume of 4,359,396. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $181.00 billion, a price-to-earnings ratio of 57.54 and a beta of 2.06. Seagate Technology Holdings PLC has a 52-week low of $175.82 and a 52-week high of $1,145.00. The business has a 50 day simple moving average of $857.47 and a two-hundred day simple moving average of $706.14.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (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 analyst estimates of $3.50 billion. During the same quarter last year, the business earned $2.59 earnings per share. The company’s revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna lifted their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Citigroup increased their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wedbush raised their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Mizuho lifted their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Bank of America upped their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd 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 period. Retirement Wealth Solutions LLC boosted its stake 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 buying an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake 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 period. Quarry LP acquired a new stake in shares of Seagate Technology during the fourth quarter valued at about $31,000. Finally, WealthCollab LLC raised its stake 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 valued at $36,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.