Seagate Technology (NASDAQ:STX) Director Yolanda Lee Conyers Sells 750 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $885.33, for a total transaction of $663,997.50. Following the sale, the director directly owned 4,101 shares of the company’s stock, valued at $3,630,738.33. The trade was a 15.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $5.35 during trading hours on Tuesday, reaching $926.61. 2,555,822 shares of the company’s stock were exchanged, compared to its average volume of 4,153,224. Seagate Technology Holdings PLC has a 1 year low of $118.75 and a 1 year high of $953.72. The company has a market capitalization of $207.77 billion, a P/E ratio of 87.91 and a beta of 1.98. The business has a fifty day moving average of $621.76 and a two-hundred day moving average of $437.45. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The company’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its position in Seagate Technology by 124.4% in 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 during the last quarter. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% in the second 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 last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth lifted its position in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Seagate Technology in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,150 from $740 and reiterated a buy rating, signaling continued confidence in the company’s upside after the stock’s strong run.
• Positive Sentiment: Seagate agreed to a $175 million settlement over shareholder claims tied to alleged sales to Huawei, removing a legal overhang that had been a source of uncertainty for investors. Article Title
• Positive Sentiment: Recent coverage also highlighted Seagate as a stock favored by some billionaire investors, reinforcing the bullish sentiment around the name. Article Title
• Neutral Sentiment: Quarterly semiconductor-sector roundup articles featuring Seagate are mainly contextual and do not appear to add a major new catalyst for the stock. Article Title
• Neutral Sentiment: Another report noted that a major investor, Situational Awareness LP, sold its Seagate stake, but the article does not indicate a broad shift in fundamentals. Article Title

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STX shares. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America upped their price objective on shares of Seagate Technology from $840.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Mizuho upped their price objective on shares of Seagate Technology from $565.00 to $700.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane upped their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $772.04.

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.