Seagate Technology (NASDAQ:STX) CEO Sells $2,346,067.70 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 2,855 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.74, for a total value of $2,346,067.70. Following the completion of the sale, the chief executive officer owned 324,870 shares in the company, valued at $266,958,673.80. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Seagate Technology Trading Up 7.3%

Shares of Seagate Technology stock opened at $931.04 on Friday. Seagate Technology Holdings PLC has a 52-week low of $124.63 and a 52-week high of $966.80. The stock’s 50-day simple moving average is $709.54 and its 200 day simple moving average is $475.81. The stock has a market capitalization of $208.77 billion, a P/E ratio of 88.33 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last announced 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 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 analysts’ expectations of $2.96 billion. During the same period in the previous year, the business posted $1.90 EPS. The firm’s quarterly 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. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Key Seagate Technology News

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its position in Seagate Technology by 124.4% in the fourth 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 during the last quarter. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% in the second 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 during the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Avion Wealth increased its stake in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on STX shares. Argus lifted their target price on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 30th. UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. TD Cowen boosted their price objective on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday. One 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $820.63.

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.