Seagate Technology (NASDAQ:STX) Shares Gap Down – Should You Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) gapped down before the market opened on Monday . The stock had previously closed at $850.00, but opened at $818.60. Seagate Technology shares last traded at $781.7910, with a volume of 467,083 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STX. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Evercore boosted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Argus increased their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Rosenblatt Securities raised their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 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, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Down 5.6%

The stock has a market capitalization of $181.84 billion, a price-to-earnings ratio of 57.98 and a beta of 2.06. The business has a 50-day moving average of $893.23 and a 200-day moving average of $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.

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

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 14,091 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the sale, the chief financial officer owned 21,543 shares of the company’s stock, valued at $17,476,758.75. The trade was a 39.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 7,361 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $920.80, for a total value of $6,778,008.80. Following the transaction, the executive vice president owned 2,931 shares in the company, valued at $2,698,864.80. This trade represents a 71.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 133,650 shares of company stock worth $116,077,574. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Seagate Technology by 102,975.8% in the 2nd quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock valued at $305,658,775,000 after buying an additional 316,437,552 shares during the period. Greenland Capital Management LP purchased a new position in Seagate Technology during the 2nd quarter valued at about $1,307,000. Washington Trust Advisors Inc. grew its position in Seagate Technology by 712.5% in the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock valued at $62,000 after acquiring an additional 57 shares in the last quarter. Ameritas Advisory Services LLC grew its position in Seagate Technology by 254.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 8,561 shares of the data storage provider’s stock valued at $8,262,000 after acquiring an additional 6,143 shares in the last quarter. Finally, Guardian Wealth Advisors LLC NC purchased a new stake in Seagate Technology during the second quarter worth about $240,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.