Seagate Technology (NASDAQ:STX) Shares Down 6.8% – Here’s What Happened

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STX shares. Morgan Stanley lifted their target price on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Robert W. Baird upped their price target on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. The Goldman Sachs Group lifted their price target on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. Finally, Loop Capital lifted their price target on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a report on Monday, February 9th. One research 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 company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $447.35.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The firm has a market capitalization of $84.02 billion, a price-to-earnings ratio of 43.61, a PEG ratio of 0.91 and a beta of 1.62. The firm’s fifty day moving average is $359.99 and its 200 day moving average is $277.14.

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

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the sale, the executive vice president owned 257 shares of the company’s stock, valued at $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,801 shares of company stock valued at $26,939,891 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its position 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 purchased a new stake in shares of Seagate Technology in the 2nd quarter worth about $262,000. Envestnet Asset Management Inc. increased its stake in shares of Seagate Technology by 36.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 161,131 shares of the data storage provider’s stock worth $23,256,000 after acquiring an additional 43,224 shares in the last quarter. Bessemer Group Inc. boosted its stake in Seagate Technology by 3.3% during the second quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider’s stock worth $361,000 after acquiring an additional 81 shares in the last quarter. Finally, World Investment Advisors grew its holdings in Seagate Technology by 3.8% in the second quarter. World Investment Advisors now owns 4,609 shares of the data storage provider’s stock worth $665,000 after purchasing an additional 168 shares during the period. 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.