Seagate Technology (NASDAQ:STX) EVP Sells $6,540,691.84 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Wednesday, May 13th, Ban Seng Teh sold 7,557 shares of Seagate Technology stock. The shares were sold at an average price of $813.45, for a total value of $6,147,241.65.

Seagate Technology Stock Down 1.5%

Shares of STX traded down $12.59 during midday trading on Thursday, reaching $804.76. 2,354,068 shares of the stock were exchanged, compared to its average volume of 4,255,103. Seagate Technology Holdings PLC has a 52 week low of $103.73 and a 52 week high of $841.31. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company’s 50 day moving average is $508.89 and its two-hundred day moving average is $386.39. The company has a market capitalization of $180.45 billion, a P/E ratio of 76.35 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last posted its quarterly 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 return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $1.90 EPS. The business’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, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is 28.08%.

Key Seagate Technology News

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

• Positive Sentiment: Evercore raised its price target on Seagate to $1,000 after an investor meeting, highlighting confidence in HAMR technology and future growth potential. Seagate gets new $1000 price target at Evercore after investor meeting
• Positive Sentiment: BofA and other bulls remain constructive after Seagate’s strong fiscal Q3 results, which came in above guidance and featured record margins and roughly $1 billion in free cash flow, reinforcing the AI storage growth story. A Look At Seagate Technology Holdings (STX) Valuation After Strong Q3 Results And Growing AI Infrastructure Optimism
• Positive Sentiment: Commentary around booming AI-led storage demand, including cloud demand and HAMR adoption, is keeping investors focused on Seagate as a direct beneficiary of the AI infrastructure buildout. STX Soars 197% YTD: Buy the Stock Amid Booming AI-Led Storage Demand?
• Neutral Sentiment: Seagate announced the planned retirement of Lead Independent Director Mike Cannon from the board; while not a major operational issue, it raises some governance questions after a huge run in the stock. Seagate Board Transition Raises Questions For AI Storage Growth Story
• Neutral Sentiment: Broader AI memory-chip enthusiasm and the rally in related names are adding positive sector momentum for Seagate, though this is more of an industry tailwind than a company-specific catalyst. Micron, SanDisk Stocks Jump — AI Memory Boom Ignites Chip Rally

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STX. National Pension Service grew its holdings in Seagate Technology by 28.0% in the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after purchasing an additional 54,722 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $23,882,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after purchasing an additional 6,028 shares during the period. New York State Teachers Retirement System grew its holdings in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the period. Finally, Keystone Investors PTE Ltd. grew its holdings in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after purchasing an additional 18,000 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on STX. Wedbush upped their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. Mizuho upped their price objective on Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Evercore increased their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Argus increased their price target on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $719.54.

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.