Seagate Technology (NASDAQ:STX) Shares Down 1.5% Following Insider Selling

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) traded down 1.5% on Thursday after an insider sold shares in the company. The company traded as low as $796.17 and last traded at $804.76. 2,223,080 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,255,082 shares. The stock had previously closed at $817.35.

Specifically, EVP Ban Seng Teh sold 7,557 shares of Seagate Technology stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $813.45, for a total transaction of $6,147,241.65. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,002,443.95. The trade was a 67.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Barclays lifted their target price on shares of Seagate Technology from $625.00 to $750.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Mizuho lifted their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, China Renaissance lifted their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $719.54.

Key Headlines Impacting Seagate Technology

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

Seagate Technology Price Performance

The business’s 50-day simple moving average is $508.89 and its 200-day simple moving average is $386.39. The stock has a market cap of $180.45 billion, a PE ratio of 76.35 and a beta of 1.98. 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 released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. The company’s revenue for the quarter 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, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Institutional Investors Weigh In On Seagate Technology

Large investors have recently modified their holdings of the stock. Salomon & Ludwin LLC boosted its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth boosted its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.