Seagate Technology (NASDAQ:STX) Shares Down 1% – Here’s What Happened

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) traded down 1% on Tuesday . The stock traded as low as $695.14 and last traded at $733.35. 3,629,131 shares were traded during trading, a decline of 14% from the average session volume of 4,236,080 shares. The stock had previously closed at $740.84.

Seagate Technology News Roundup

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

• Positive Sentiment: Analysts remain constructive on Seagate’s business, with one report highlighting continued Wall Street optimism and another noting Evercore ISI raised its price target. Are Wall Street Analysts Bullish on Seagate Technology Stock?
• Positive Sentiment: Longer-term demand trends remain favorable, with commentary pointing to structural growth in AI storage needs, strong demand for mass-capacity drives, and ongoing adoption of Mozaic HAMR technology. Can Structural Growth & Durable Demand Fuel the Next Rally in Seagate?
• Neutral Sentiment: Seagate’s presentation at the J.P. Morgan conference provided more detail on its strategy, but the market focus has shifted to capacity constraints rather than new product or financial updates. Seagate Technology Holdings plc (STX) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
• Negative Sentiment: CEO comments that it would take too long to build new factories triggered a sharp selloff and dragged down other memory and storage names, reinforcing concerns about near-term supply constraints. Seagate leads memory sell-off as CEO says it would ‘take too long’ to build new factories

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wedbush increased their target price on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Evercore increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Robert W. Baird increased their price objective on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. BNP Paribas Exane increased their price objective on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $733.71.

Seagate Technology Trading Down 1.0%

The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a fifty day simple moving average of $533.71 and a two-hundred day simple moving average of $398.04. The firm has a market cap of $164.44 billion, a PE ratio of 69.58 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In other news, EVP John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 118,283 shares of company stock worth $65,989,618 over the last quarter. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. increased its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the 4th quarter valued at approximately $28,000. Avion Wealth increased its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Seagate Technology during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.