Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 30,000 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the sale, the chief executive officer directly owned 295,168 shares in the company, valued at approximately $240,939,735.04. The trade was a 9.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Trading Down 1.2%

Shares of STX traded down $9.93 during midday trading on Thursday, hitting $798.61. 2,963,251 shares of the stock were exchanged, compared to its average volume of 4,359,396. Seagate Technology Holdings PLC has a 52-week low of $175.82 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 $857.47 and a 200 day simple moving average of $706.14. The firm has a market cap of $181.00 billion, a P/E ratio of 57.54 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.50 billion. During the same quarter in the previous year, the business earned $2.59 EPS. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. 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 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio is 21.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on STX shares. JPMorgan Chase & Co. lifted their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Evercore increased their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Mizuho raised their price target 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. Bank of America boosted their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Finally, Barclays increased their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently modified their holdings of the company. Praxis Investment Management Inc. lifted its position 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 acquiring an additional 2,389 shares during the last quarter. NewEdge Advisors LLC grew its holdings 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 last quarter. GLOBALT Investments LLC GA increased its position in shares of 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 in the last quarter. ASR Vermogensbeheer N.V. increased its position in shares of Seagate Technology by 21.0% during the fourth quarter. ASR Vermogensbeheer N.V. now owns 23,471 shares of the data storage provider’s stock worth $6,463,000 after purchasing an additional 4,070 shares in the last quarter. Finally, Tredje AP fonden lifted its holdings in shares of Seagate Technology by 446.6% in the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock valued at $30,662,000 after purchasing an additional 90,968 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.