Ban Seng Teh Sells 9,862 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 9,862 shares of Seagate Technology stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This represents a 65.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, August 20th, Ban Seng Teh sold 6,048 shares of Seagate Technology stock. The stock was sold at an average price of $842.97, for a total transaction of $5,098,282.56.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The stock was sold at an average price of $920.80, for a total transaction of $6,778,008.80.
• On Friday, June 12th, Ban Seng Teh sold 989 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The stock was sold at an average price of $821.86, for a total value of $544,893.18.

Seagate Technology Trading Down 6.5%

Shares of STX traded down $55.35 during midday trading on Monday, hitting $794.65. 3,203,008 shares of the stock were exchanged, compared to its average volume of 4,427,493. Seagate Technology Holdings PLC has a 52-week low of $158.68 and a 52-week high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The stock has a fifty day simple moving average of $893.23 and a 200 day simple moving average of $683.35. The firm has a market cap of $180.11 billion, a P/E ratio of 57.25 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $2.59 EPS. Seagate Technology’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analyst Weigh In

STX has been the topic of several recent research reports. Citigroup upped their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. BNP Paribas Exane boosted their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Morgan Stanley increased their price objective on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, China Renaissance boosted their target price on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Seagate Technology during the 4th quarter worth about $23,882,000. New York State Teachers Retirement System grew its holdings in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the period. Praxis Investment Management Inc. grew its holdings in Seagate Technology by 56.5% in the fourth 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 increased its position in Seagate Technology by 85.9% during the first 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 last quarter. Finally, GLOBALT Investments LLC GA raised its stake in Seagate Technology by 820.8% during the fourth 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. Institutional investors and hedge funds 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.