Ban Seng Teh Sells 6,048 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 6,048 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $842.97, for a total transaction of $5,098,282.56. Following the completion of the transaction, the executive vice president owned 15,072 shares of the company’s stock, valued at approximately $12,705,243.84. This trade represents a 28.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Friday, August 21st, Ban Seng Teh sold 9,862 shares of Seagate Technology stock. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80.
• On Friday, June 12th, Ban Seng Teh sold 989 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The shares were sold at an average price of $821.86, for a total value of $544,893.18.

Seagate Technology Trading Down 6.5%

STX traded down $55.35 during midday trading on Monday, hitting $794.65. 3,203,008 shares of the company were exchanged, compared to its average volume of 4,427,493. The firm has a market capitalization of $180.11 billion, a P/E ratio of 57.25 and a beta of 2.06. Seagate Technology Holdings PLC has a 1-year low of $158.68 and a 1-year high of $1,145.00. The firm’s 50 day moving average price is $893.23 and its 200-day moving average price is $683.35. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last issued 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. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The business’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Seagate Technology by 102,975.8% during the 2nd quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock worth $305,658,775,000 after buying an additional 316,437,552 shares during the period. Greenland Capital Management LP bought a new position in Seagate Technology in the second quarter worth approximately $1,307,000. Washington Trust Advisors Inc. grew its stake in Seagate Technology by 712.5% in the second quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock valued at $62,000 after acquiring an additional 57 shares during the period. Ameritas Advisory Services LLC grew its stake in Seagate Technology by 254.1% in the second quarter. Ameritas Advisory Services LLC now owns 8,561 shares of the data storage provider’s stock valued at $8,262,000 after acquiring an additional 6,143 shares during the period. Finally, Guardian Wealth Advisors LLC NC bought a new stake in shares of Seagate Technology during the second quarter valued at approximately $240,000. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STX shares. Bank of America increased their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. TD Cowen increased their price target on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wedbush lifted their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. BNP Paribas Exane boosted their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities upped their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price 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.