Insider Selling: Seagate Technology (NASDAQ:STX) Director Sells $611,332.50 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Conyers sold 750 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $815.11, for a total value of $611,332.50. Following the transaction, the director directly owned 3,351 shares in the company, valued at $2,731,433.61. The trade was a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Stock Performance

Shares of STX stock traded down $9.93 on Thursday, reaching $798.61. The stock had a trading volume of 2,963,251 shares, compared to its average volume of 4,359,396. 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 Holdings PLC has a 1 year low of $175.82 and a 1 year high of $1,145.00. The stock has a market cap of $181.00 billion, a P/E ratio of 57.54 and a beta of 2.06. The company has a 50 day simple moving average of $857.47 and a 200 day simple moving average of $706.14.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.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 business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Argus upped their price target on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Wells Fargo & Company boosted their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Loop Capital raised their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Praxis Investment Management Inc. raised its stake in Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares during the period. NewEdge Advisors LLC boosted its stake in Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares during the period. GLOBALT Investments LLC GA boosted its stake in Seagate Technology by 820.8% in the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after purchasing an additional 8,700 shares during the period. ASR Vermogensbeheer N.V. grew its holdings in Seagate Technology by 21.0% during the 4th quarter. ASR Vermogensbeheer N.V. now owns 23,471 shares of the data storage provider’s stock valued at $6,463,000 after buying an additional 4,070 shares in the last quarter. Finally, Tredje AP fonden grew its holdings in Seagate Technology by 446.6% during the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock valued at $30,662,000 after buying an additional 90,968 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

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.