Seagate Technology (NASDAQ:STX) Shares Down 2% – Should You Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded down 2% during trading on Wednesday . The company traded as low as $885.39 and last traded at $885.92. Approximately 3,392,873 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 4,348,081 shares. The stock had previously closed at $904.38.

More Seagate Technology News

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

• Positive Sentiment: Seagate completed the redemption of its exchangeable notes, a capital-structure development that removes the related obligations and may reduce future dilution concerns. Seagate Completes Redemption of Exchangeable Notes
• Positive Sentiment: Seagate’s HAMR technology and Mozaic platform are increasing drive capacity, exabyte growth and efficiency. The technology is positioned to benefit as AI workloads drive demand for higher-capacity storage. Seagate’s HAMR Bet is Paying Off
• Positive Sentiment: Market commentary remains bullish, citing strong AI-related storage demand, record backlogs and expectations for additional upside after Seagate’s substantial one-year gain. Bull of the Day: Seagate Technology
• Positive Sentiment: One investment thesis says much of Seagate’s expected production is already committed, providing visibility into demand and supporting the view that AI data-center growth can extend the rally. Here’s the One Storage Stock I’d Buy With $2,000
• Neutral Sentiment: A forecast projects STX reaching $1,000, but says that outcome depends on multiple factors aligning, including continued demand and execution. The conditional outlook highlights both upside potential and execution risk. Price Prediction: Seagate Stock Will Hit $1000 on This Date
• Neutral Sentiment: Seagate’s shares recently rose sharply alongside broader strength in storage stocks, increasing the possibility of consolidation as investors assess whether the AI-driven gains can be sustained. Seagate Technology Holdings Jumps

Analyst Ratings Changes

Several brokerages have issued reports on STX. Melius Research initiated coverage on Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target for the company. TD Cowen raised their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Loop Capital lifted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Down 2.0%

The company’s fifty day simple moving average is $848.33 and its 200 day simple moving average is $718.18. 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 firm has a market capitalization of $200.79 billion, a P/E ratio of 63.83 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Activity at Seagate Technology

In other news, EVP James Lee sold 9,013 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $794.84, for a total transaction of $7,163,892.92. Following the transaction, the executive vice president directly owned 347 shares of the company’s stock, valued at $275,809.48. This represents a 96.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 9,862 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the transaction, the executive vice president directly owned 5,210 shares in the company, valued at $4,443,973.70. The trade was a 65.43% 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. Insiders have sold 186,323 shares of company stock worth $157,393,279 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares in the last quarter. GLOBALT Investments LLC GA grew its stake in shares of Seagate Technology by 820.8% during the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after acquiring an additional 8,700 shares during the last quarter. Tredje AP fonden grew its stake in shares of Seagate Technology by 446.6% during the fourth quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after acquiring an additional 90,968 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Seagate Technology during the first quarter valued at about $1,328,000. Finally, Profund Advisors LLC raised its position in shares of Seagate Technology by 458.6% in the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider’s stock valued at $5,585,000 after purchasing an additional 16,651 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.