Seagate Technology (NASDAQ:STX) Shares Down 1.2% Following Insider Selling

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price fell 1.2% during trading on Thursday following insider selling activity. The stock traded as low as $763.52 and last traded at $798.61. Approximately 2,961,975 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 4,359,009 shares. The stock had previously closed at $808.54.

Specifically, Director Yolanda Conyers sold 750 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $815.11, for a total value of $611,332.50. Following the completion of the transaction, the director directly owned 3,351 shares of the company’s stock, valued at approximately $2,731,433.61. This trade represents a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the sale, the chief executive officer owned 295,168 shares in the company, valued at $240,939,735.04. This represents a 9.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

STX has been the subject of several recent analyst reports. Melius Research started coverage on shares of Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective for the company. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Loop Capital raised their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Morgan Stanley lifted 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 note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Stock Down 1.2%

The stock has a market capitalization of $181.00 billion, a PE ratio of 57.54 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average is $857.47 and its 200 day moving average is $706.14.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.Seagate Technology’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared 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 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. boosted its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the period. Retirement Wealth Solutions LLC raised its holdings in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after buying an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Seagate Technology by 23.1% during the 1st 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 in the last quarter. Quarry LP acquired a new position in Seagate Technology during the 4th quarter worth about $31,000. Finally, WealthCollab LLC boosted 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 valued at $36,000 after acquiring an additional 20 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.