Seagate Technology (NASDAQ:STX) Director Shankar Arumugavelu Sells 1,000 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Shankar Arumugavelu sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total value of $927,680.00. Following the completion of the transaction, the director owned 6,626 shares in the company, valued at $6,146,807.68. The trade was a 13.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Seagate Technology Stock Down 1.6%

Shares of NASDAQ STX opened at $925.99 on Friday. 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 Holdings PLC has a 52 week low of $124.63 and a 52 week high of $966.80. The stock has a market capitalization of $207.63 billion, a P/E ratio of 87.85 and a beta of 2.04. The stock’s fifty day moving average is $652.82 and its 200 day moving average is $451.46.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping 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 company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $1.90 earnings per share. Seagate Technology’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Integrated Wealth Concepts LLC boosted its stake in shares of Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Seagate Technology during the second quarter valued at about $262,000. Cerity Partners LLC boosted its stake in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after purchasing an additional 7,517 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after purchasing an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after purchasing an additional 462 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STX shares. Loop Capital lifted their target price on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. lifted their target price on Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. TD Cowen lifted their target price on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald lifted their target price on Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $772.04.

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.