Seagate Technology (NASDAQ:STX) EVP Sells $5,098,282.56 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 6,048 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $842.97, for a total transaction of $5,098,282.56. Following the transaction, the executive vice president owned 15,072 shares of the company’s stock, valued at approximately $12,705,243.84. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 21st, Ban Seng Teh sold 9,862 shares of Seagate Technology stock. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total value 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 Up 3.0%

Shares of Seagate Technology stock opened at $846.37 on Thursday. The stock has a market cap of $191.83 billion, a P/E ratio of 60.98 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 12-month low of $163.86 and a 12-month high of $1,145.00. The business’s 50 day moving average is $880.16 and its 200-day moving average is $691.76.

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

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research analyst reports. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. BNP Paribas Exane boosted their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Rosenblatt Securities upped their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Melius Research started coverage on Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective for the company. Finally, UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Analyst commentary highlights Seagate as a potential “unexpected” AI winner. Hyperscaler demand, contracts extending through 2027 and the need for high-capacity storage could support sustained growth as data-center workloads expand. Prediction: Seagate Could Be One of AI’s Most Unexpected Winners
• Positive Sentiment: With Treasury yields falling, Zacks identified STX as a growth stock that could benefit from stronger earnings momentum and structural demand for storage. Seagate’s latest quarter showed revenue growth of 48.5% year over year, while EPS and revenue exceeded consensus estimates. 3 Growth Stocks to Buy as Treasury Yields Fall
• Positive Sentiment: Wall Street’s consensus remains constructive, with a “Moderate Buy” rating and an average price target of $986. Several firms recently raised targets to between $1,150 and $1,300, citing Seagate’s earnings outlook and AI-related demand.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, equivalent to a $2.96 annualized payout and an approximately 0.4% yield. The dividend provides shareholder income but is unlikely to be a major near-term trading catalyst.
• Negative Sentiment: EVP James Ci Lee sold 9,013 shares worth about $7.16 million, reducing his ownership by 96.29%. EVP John Christopher Morris also sold 523 shares and has made several additional sales recently. These transactions may weigh on sentiment, although they were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary signals about management’s outlook. SEC filing for James Ci Lee stock sale
• Negative Sentiment: STX’s high valuation and beta make it sensitive to broader technology-sector weakness and profit-taking. The recent decline from its 52-week high increases the risk that investors will demand continued earnings beats to justify the premium valuation.

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of STX. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Seagate Technology during the fourth quarter worth approximately $23,882,000. New York State Teachers Retirement System grew its position in shares of 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 last quarter. Praxis Investment Management Inc. increased its stake in shares of Seagate Technology by 56.5% during the fourth 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 period. NewEdge Advisors LLC increased its stake in shares of 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 period. Finally, GLOBALT Investments LLC GA lifted its holdings in Seagate Technology by 820.8% during the 4th 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 last quarter. 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.