Insider Selling: Seagate Technology (NASDAQ:STX) Director Sells $927,680.00 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Shankar Arumugavelu sold 1,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total transaction of $927,680.00. Following the transaction, the director owned 6,626 shares of the company’s stock, valued at approximately $6,146,807.68. The trade was a 13.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Seagate Technology Stock Down 8.5%

Shares of Seagate Technology stock opened at $847.47 on Friday. The company has a market cap of $190.03 billion, a P/E ratio of 80.41 and a beta of 2.04. 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 one year low of $124.63 and a one year high of $966.80. The firm has a fifty day moving average of $661.50 and a two-hundred day moving average of $454.23.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently added to or reduced their stakes in the business. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $23,882,000. New York State Teachers Retirement System boosted its stake in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after purchasing an additional 6,028 shares during the last quarter. Praxis Investment Management Inc. boosted its stake in shares of 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 worth $1,822,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Keystone Investors PTE Ltd. boosted its stake in shares of Seagate Technology by 55.7% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after purchasing an additional 18,000 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STX shares. Argus upped their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wells Fargo & Company upped their price target on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. TD Cowen upped their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, UBS Group upped their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four 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 target price of $772.04.

Key Seagate Technology News

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

• Positive Sentiment: Several recent articles and analyst notes highlighted Seagate as a beneficiary of surging AI storage demand, data-center buildout, and tighter industry supply, which has helped improve the investment case and lift price targets. Zacks Analyst Blog Highlights Micron, Sandisk, Seagate, Dell and Comfort Systems
• Positive Sentiment: Analysts are increasingly framing STX as an AI-storage winner, with one recent report saying fair value estimates were reset higher as investors price in stronger demand for higher-capacity drives and improved industry discipline. How The Seagate (STX) Investment Story Is Shifting With AI Storage Demand And New Targets
• Positive Sentiment: Seagate was also included in a “buy these growth stocks” theme around massive AI infrastructure spending, reinforcing investor optimism tied to the company’s storage exposure. Buy These 5 Growth Stocks in June Amid Massive AI Infrastructure Boost
• Positive Sentiment: Recent coverage also noted that Seagate’s quarterly results beat expectations and the company raised guidance, which continues to support the bullish narrative around earnings momentum. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
• Neutral Sentiment: A director sold 1,000 shares at $927.68, a transaction that is not huge in size but can still modestly weigh on sentiment because it comes after a strong run in the stock. Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock
• Neutral Sentiment: Broader memory-chip weakness in peers like Micron and SanDisk suggests some cooling in the sector after a sharp run-up, which could spill over into Seagate even though its fundamentals remain strong. Memory-Chip Stocks Micron, Sandisk Get Their Wings Clipped

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.