Seagate Technology (NASDAQ:STX) EVP Sells $471,632.84 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 574 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84. Following the completion of the transaction, the executive vice president directly owned 12,199 shares in the company, valued at approximately $10,023,430.34. The trade was a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

John Christopher Morris also recently made the following trade(s):

• On Monday, May 4th, John Christopher Morris sold 5,626 shares of Seagate Technology stock. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62.

Seagate Technology Price Performance

Seagate Technology stock opened at $931.04 on Friday. Seagate Technology Holdings PLC has a 52 week low of $124.63 and a 52 week high of $966.80. The company’s 50 day moving average price is $709.54 and its two-hundred day moving average price is $475.81. The stock has a market cap of $208.77 billion, a P/E ratio of 88.33 and a beta of 2.04. 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 announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s revenue 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. On average, equities analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

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 paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STX. Annis Gardner Whiting Capital Advisors LLC grew its position in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares in the last quarter. Salomon & Ludwin LLC grew 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 worth $27,000 after acquiring an additional 51 shares in the last quarter. WealthCollab LLC grew its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Seagate Technology in the first quarter worth $39,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Seagate Technology in the fourth quarter worth $28,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the topic of a number of research analyst reports. Barclays boosted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Wedbush boosted their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Evercore boosted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Citigroup boosted their target price on Seagate Technology from $740.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $820.63.

More Seagate Technology News

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

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.