Seagate Technology (NASDAQ:STX) EVP Sells $2,986,314.60 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 3,516 shares of Seagate Technology stock in a transaction on Friday, August 21st. The stock was sold at an average price of $849.35, for a total transaction of $2,986,314.60. Following the transaction, the executive vice president owned 12,805 shares in the company, valued at $10,875,926.75. This represents a 21.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Christopher Morris also recently made the following trade(s):

• On Thursday, August 20th, John Christopher Morris sold 523 shares of Seagate Technology stock. The shares were sold at an average price of $835.54, for a total transaction of $436,987.42.
• On Monday, August 3rd, John Christopher Morris sold 168 shares of Seagate Technology stock. The stock was sold at an average price of $817.76, for a total value of $137,383.68.
• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16.
• On Wednesday, June 10th, John Christopher Morris sold 574 shares of Seagate Technology stock. The shares were sold at an average price of $821.66, for a total value of $471,632.84.

Seagate Technology Stock Performance

NASDAQ:STX opened at $846.37 on Thursday. The stock has a 50-day simple moving average of $880.16 and a two-hundred day simple moving average of $691.76. Seagate Technology Holdings PLC has a 52-week low of $163.86 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 firm has a market capitalization of $191.83 billion, a PE ratio of 60.98 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business posted $2.59 earnings per share. The business’s quarterly 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. Analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

More Seagate Technology News

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Seagate Technology in the fourth quarter worth about $23,882,000. New York State Teachers Retirement System boosted its stake in Seagate Technology by 5.0% during 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 buying an additional 8,991 shares during the last quarter. Praxis Investment Management Inc. boosted its stake in 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 valued at $1,822,000 after buying an additional 2,389 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares in the last quarter. Finally, GLOBALT Investments LLC GA grew 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 valued at $2,688,000 after buying an additional 8,700 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STX has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Wells Fargo & Company increased their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

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.