Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 30,000 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 30,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the sale, the chief executive officer directly owned 295,168 shares of the company’s stock, valued at approximately $240,939,735.04. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Stock Performance

Shares of STX stock opened at $798.61 on Friday. Seagate Technology Holdings PLC has a 12 month low of $175.82 and a 12 month high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm has a market capitalization of $181.00 billion, a P/E ratio of 57.54 and a beta of 2.06. The company’s fifty day moving average price is $852.94 and its two-hundred day moving average price is $708.76.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the firm earned $2.59 earnings per share. The company’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid 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 is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. Retirement Wealth Solutions LLC raised its holdings in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $39,000. Trust Co. of Vermont acquired a new stake in Seagate Technology during the second quarter worth about $54,000. Triumph Capital Management raised its stake in Seagate Technology by 93.5% during the second quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 29 shares during the period. Finally, Cornerstone Financial Management LLC lifted its holdings in Seagate Technology by 109.7% in the second quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on STX shares. Wedbush increased their target price on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Barclays upped their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Citigroup raised their price objective on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Finally, Melius Research assumed coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $986.00.

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.