Seagate Technology (NASDAQ:STX) Shares Down 6.8% – Time to Sell?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price dropped 6.8% on Monday . The stock traded as low as $387.07 and last traded at $380.2290. Approximately 590,140 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,360,609 shares. The stock had previously closed at $407.84.

Analyst Ratings Changes

Several research analysts have recently weighed in on STX shares. Sanford C. Bernstein boosted their price target on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Evercore lifted their price objective on Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Loop Capital raised their price objective on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Mizuho increased their target price on shares of Seagate Technology from $440.00 to $475.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, China Renaissance lifted their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Price Performance

The firm has a market capitalization of $84.02 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The firm has a 50 day moving average price of $359.99 and a 200-day moving average price of $277.14.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insider Activity

In related news, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 69,801 shares of company stock worth $26,939,891. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently made changes to their positions in STX. National Pension Service grew its holdings in Seagate Technology by 28.0% in the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after purchasing an additional 54,722 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Seagate Technology in the third quarter valued at approximately $1,864,000. Central Asset Investments & Management Holdings HK Ltd raised its stake in shares of Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after purchasing an additional 12,178 shares during the period. Estate Counselors LLC acquired a new position in shares of Seagate Technology during the third quarter worth $2,557,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Seagate Technology by 12.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,436 shares of the data storage provider’s stock valued at $6,713,000 after purchasing an additional 3,138 shares during the period. Hedge funds and other 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.