Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells $14,024,803.20 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 23,280 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $602.44, for a total transaction of $14,024,803.20. Following the completion of the transaction, the chief executive officer owned 352,828 shares of the company’s stock, valued at $212,557,700.32. This represents a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $12.62 during midday trading on Tuesday, hitting $606.38. The company had a trading volume of 4,726,788 shares, compared to its average volume of 4,481,508. The firm has a market capitalization of $137.88 billion, a price-to-earnings ratio of 31.85 and a beta of 2.06. Seagate Technology Holdings PLC has a twelve month low of $228.61 and a twelve month high of $1,145.00. The business has a 50-day simple moving average of $793.96 and a two-hundred day simple moving average of $689.79. The company has a quick ratio of 1.17, a current ratio of 1.82 and a debt-to-equity ratio of 0.68.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the business posted $2.61 earnings per share. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 37.44 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be issued a $0.76 dividend. The ex-dividend date is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s payout ratio is currently 15.55%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. StoneX Group Inc. increased its position in shares of Seagate Technology by 61.7% in the third quarter. StoneX Group Inc. now owns 1,538 shares of the data storage provider’s stock worth $1,394,000 after acquiring an additional 587 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Seagate Technology by 23.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 1,885 shares of the data storage provider’s stock valued at $1,739,000 after acquiring an additional 360 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Seagate Technology by 46.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 203,667 shares of the data storage provider’s stock valued at $187,839,000 after acquiring an additional 64,530 shares in the last quarter. Formidable Asset Management LLC purchased a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $342,000. Finally, Plancorp LLC lifted its position in shares of Seagate Technology by 42.8% in the 3rd quarter. Plancorp LLC now owns 971 shares of the data storage provider’s stock valued at $896,000 after acquiring an additional 291 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

More Seagate Technology News

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

• Positive Sentiment: Seagate’s reported $1.2 billion debt paydown, strong free cash flow and higher dividend point to greater capacity for shareholder returns. The article notes that valuation remains a concern. Seagate’s $1.2 Billion Debt Paydown: What Comes Next for Investors?
• Positive Sentiment: Seagate’s fiscal second-quarter outlook points to stronger revenue and earnings, supported by cloud demand, pricing and an accelerating HAMR drive rollout. Execution remains important to delivering that growth. Seagate Q2 Outlook Signals Stronger Growth as HAMR Ramp Accelerates
• Neutral Sentiment: A broader rebound in chip stocks provided a more favorable backdrop for technology shares, though the article does not identify a Seagate-specific catalyst. Micron, Nvidia, and AMD lead chip stocks’ rebound
• Neutral Sentiment: A look at Seagate’s decade-long returns highlights its past outperformance, but leaves open whether AI-driven demand can sustain further gains. Seagate Was Supposed to Lose to SSDs
• Negative Sentiment: Despite stronger operating results, STX has fallen sharply over the past month. Analysts cite its rich valuation and risks around executing on growth as reasons investors may remain cautious. STX Falls as Risks Test AI Storage Momentum

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on STX. Rosenblatt Securities reduced their price objective on Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, October 26th. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Cantor Fitzgerald lowered their target price on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Argus raised their price target on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Susquehanna cut their price target on Seagate Technology from $925.00 to $765.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.88.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.