Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 20,657 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 20,657 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total value of $18,807,785.36. Following the completion of the sale, the chief executive officer directly owned 320,860 shares of the company’s stock, valued at approximately $292,136,612.80. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Trading Down 10.4%

STX traded down $95.03 on Thursday, hitting $820.16. 6,269,032 shares of the company were exchanged, compared to its average volume of 4,249,854. The firm has a fifty day simple moving average of $843.31 and a two-hundred day simple moving average of $544.68. 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 12 month low of $138.30 and a 12 month high of $1,145.00. The stock has a market capitalization of $183.90 billion, a PE ratio of 77.81 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced 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 business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the firm earned $1.90 EPS. The business’s quarterly 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 expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is presently 28.08%.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently made changes to their positions in STX. Versant Capital Management Inc raised its holdings in Seagate Technology by 26.8% in the second quarter. Versant Capital Management Inc now owns 643 shares of the data storage provider’s stock worth $620,000 after buying an additional 136 shares during the last quarter. Adelphi Trust Co purchased a new stake in shares of Seagate Technology during the second quarter valued at approximately $345,000. Eastern Bank grew its holdings in shares of Seagate Technology by 14.1% during the second quarter. Eastern Bank now owns 69,932 shares of the data storage provider’s stock valued at $67,484,000 after buying an additional 8,628 shares during the last quarter. VectorGlobal IAG Inc. bought a new stake in shares of Seagate Technology during the first quarter valued at approximately $219,000. Finally, Basecamp Wealth Advisors LLC raised its holdings in Seagate Technology by 10.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 559 shares of the data storage provider’s stock worth $219,000 after acquiring an additional 55 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Rosenblatt Securities increased their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group upped their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald increased their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Monday. China Renaissance lifted their price objective on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. boosted their target price on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $880.52.

More Seagate Technology News

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

• Positive Sentiment: Bank of America raised its price target on Seagate Technology to $1,150 from $1,000 and reiterated a buy rating, signaling confidence in upside from current levels.
• Positive Sentiment: Zacks upgraded Seagate Technology to a Zacks Rank #1 (Strong Buy), citing improving earnings prospects and solid growth attributes.
• Positive Sentiment: Analysts highlighted Seagate’s data center business as a major growth driver, with cloud demand, Mozaic adoption and long-term supply agreements supporting revenue growth through fiscal 2027. Can Seagate’s Data Center Business Maintain its Growth Momentum?
• Positive Sentiment: Seagate was also described as a strong momentum and growth stock, with recent articles pointing to exceptional return potential and strong 52-week price momentum. Here’s Why Seagate (STX) is a Strong Momentum Stock
• Neutral Sentiment: Seagate’s latest Zacks research downgrade from strong-buy to hold adds some caution, but it was quickly outweighed by the later Strong Buy upgrade.
• Negative Sentiment: Memory and storage shares, including Seagate, sold off as investors worried about a memory supply glut and fading momentum in the sector, which appears to be the main reason for the stock’s decline.

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.