Seagate Technology (NASDAQ:STX) Shares Down 4.7% – Time to Sell?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) traded down 4.7% on Tuesday . The stock traded as low as $786.01 and last traded at $827.64. Approximately 4,131,141 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 4,240,286 shares. The stock had previously closed at $868.26.

More Seagate Technology News

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

• Positive Sentiment: Seagate is being viewed as a likely candidate to beat upcoming earnings estimates again, supported by its strong history of earnings surprises and favorable setup heading into the report. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Analysts and market commentary continue to point to durable AI-related demand and tight supply in storage and memory, which supports pricing power and could help Seagate’s revenue and margins. Memory stocks rebound as analysts flag a buying opportunity
• Positive Sentiment: BofA recently reaffirmed a Buy rating on Seagate and raised its price target, reinforcing the bullish view that Seagate is benefiting from AI infrastructure spending and stronger hard-disk drive industry fundamentals. Is Seagate (STX) the Best Pick and Shovel AI Stock to Invest In?
• Neutral Sentiment: Seagate was also highlighted in a valuation-focused piece arguing the stock trades at a premium after a huge multi-year run, suggesting much of the good news may already be reflected in the share price. Seagate (STX) Stock Trades At A Premium As Its 14x Run Tests Fair Value
• Positive Sentiment: Broader sector coverage described Seagate as one of the beneficiaries of the rebound in semiconductor and memory stocks, helped by improving Wall Street sentiment and renewed buying interest after the recent selloff. Seagate, Semtech, and Teradyne Stocks Trade Up, What You Need To Know

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Sanford C. Bernstein lifted their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald lifted their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Mizuho upped their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Melius Research assumed coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price on the stock. Finally, Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $880.52.

Seagate Technology Stock Down 4.7%

The business’s 50-day moving average is $858.93 and its two-hundred day moving average is $556.28. The firm has a market capitalization of $185.58 billion, a price-to-earnings ratio of 78.52 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 (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 151,069 shares of company stock valued at $126,191,753. 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 stock. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares during the last quarter. Salomon & Ludwin LLC increased its position in Seagate Technology by 124.4% during 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. WealthCollab LLC raised its holdings in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Seagate Technology in the 1st quarter worth approximately $39,000. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $28,000. 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.