Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 3,516 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 3,516 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $2,986,314.60. Following the completion of the transaction, the executive vice president owned 12,805 shares in the company, valued at $10,875,926.75. This trade represents a 21.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 20th, John Christopher Morris sold 523 shares of Seagate Technology stock. The stock was sold at an average price of $835.54, for a total value of $436,987.42.
• On Monday, August 3rd, John Christopher Morris sold 168 shares of Seagate Technology stock. The shares were sold at an average price of $817.76, for a total value of $137,383.68.
• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16.
• On Wednesday, June 10th, John Christopher Morris sold 574 shares of Seagate Technology stock. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84.

Seagate Technology Stock Down 6.5%

NASDAQ STX traded down $55.35 during trading on Monday, reaching $794.65. The company’s stock had a trading volume of 3,203,008 shares, compared to its average volume of 4,427,493. 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 stock has a market capitalization of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. The business has a 50-day moving average price of $893.23 and a 200-day moving average price of $683.35. Seagate Technology Holdings PLC has a 1-year low of $158.68 and a 1-year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping 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 company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts forecast that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s payout ratio is currently 21.33%.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. California State Teachers Retirement System increased its stake in Seagate Technology by 102,975.8% in the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock valued at $305,658,775,000 after acquiring an additional 316,437,552 shares during the period. State Street Corp lifted its position in shares of Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares during the period. Morgan Stanley boosted its stake in Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after buying an additional 258,151 shares in the last quarter. Geode Capital Management LLC boosted its stake in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after buying an additional 234,436 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STX. 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 research note on Wednesday, July 29th. Barclays lifted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Argus raised their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Bank of America lifted 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 given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

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.