Ban Seng Teh Sells 989 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 989 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president owned 4,290 shares of the company’s stock, valued at approximately $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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, 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.
• 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.
• On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84.

Seagate Technology Stock Up 1.2%

Shares of STX stock opened at $1,031.34 on Wednesday. The stock has a 50 day moving average of $733.37 and a 200 day moving average of $488.05. 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 stock has a market cap of $231.26 billion, a P/E ratio of 97.85 and a beta of 2.04. Seagate Technology Holdings PLC has a twelve month low of $130.00 and a twelve month high of $1,097.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

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

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA raised its position in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after purchasing an additional 1,883,769 shares during the period. Norges Bank purchased a new stake in Seagate Technology in the fourth quarter valued at $498,363,000. Soroban Capital Partners LP raised its position in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the period. Finally, Janus Henderson Group PLC raised its position in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after purchasing an additional 943,170 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Morgan Stanley raised its price target on Seagate Technology (STX) to $1,035 and reiterated an Overweight rating, citing stronger HDD pricing and prolonged supply shortages. Benzinga reference
• Positive Sentiment: Investor enthusiasm remains high for AI-driven storage demand, with Seagate viewed as a major beneficiary of data-center spending and tightening memory supply. Yahoo Finance reference
• Positive Sentiment: Broader gains in tech and memory stocks, plus reduced geopolitical stress after the U.S.-Iran ceasefire, have improved sentiment for Seagate and its peers. Yahoo Finance reference
• Neutral Sentiment: Several Seagate executives disclosed insider sales, including the CEO and CFO, but the transactions were relatively routine and some were made under Rule 10b5-1 plans.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. Susquehanna raised their price objective on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Barclays raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Evercore raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Rosenblatt Securities lifted their price target on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $831.79.

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.