Seagate Technology (NASDAQ:STX) EVP Sells 9,862 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 9,862 shares of Seagate Technology stock in a transaction on Friday, August 21st. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the transaction, the executive vice president owned 5,210 shares in the company, valued at $4,443,973.70. The trade was a 65.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 Thursday, August 20th, Ban Seng Teh sold 6,048 shares of Seagate Technology stock. The stock was sold at an average price of $842.97, for a total value of $5,098,282.56.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The stock was sold at an average price of $920.80, for a total value of $6,778,008.80.
• On Friday, June 12th, Ban Seng Teh sold 989 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The stock was sold at an average price of $821.86, for a total transaction of $544,893.18.

Seagate Technology Trading Down 6.5%

STX traded down $55.35 on Monday, reaching $794.65. 3,203,008 shares of the company’s stock were exchanged, compared to its average volume of 4,427,493. Seagate Technology Holdings PLC has a twelve month low of $158.68 and a twelve month high of $1,145.00. The company’s 50 day moving average is $893.23 and its 200-day moving average is $683.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The company has a market cap of $180.11 billion, a price-to-earnings ratio of 57.25 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the company posted $2.59 earnings per share. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts predict that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is 21.33%.

Institutional Trading of Seagate Technology

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System increased its position in shares of Seagate Technology by 102,975.8% during the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock worth $305,658,775,000 after acquiring an additional 316,437,552 shares during the last quarter. Wellington Management Group LLP grew its stake in Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares in the last quarter. Norges Bank acquired a new stake in Seagate Technology during the 4th quarter valued at approximately $498,363,000. Soroban Capital Partners LP increased its holdings in Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after purchasing an additional 943,170 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on STX shares. The Goldman Sachs Group raised their price objective on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Mizuho increased their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Morgan Stanley raised their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Susquehanna boosted their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, UBS Group upped their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $986.00.

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.