Seagate Technology (NASDAQ:STX) CEO William Mosley Sells 20,000 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the transaction, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Seagate Technology Trading Down 0.8%

Shares of Seagate Technology stock opened at $252.79 on Friday. The business’s 50 day simple moving average is $183.78 and its 200-day simple moving average is $135.66. The stock has a market capitalization of $53.84 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 1.14 and a beta of 1.63. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $264.83.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, September 30th. Seagate Technology’s dividend payout ratio is presently 42.54%.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter valued at $27,000. Rakuten Securities Inc. increased its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC acquired a new position in shares of Seagate Technology during the 2nd quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Seagate Technology during the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC increased its position in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after purchasing an additional 440 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STX. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Sanford C. Bernstein assumed coverage on Seagate Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $250.00 price target on the stock. TD Cowen raised their target price on Seagate Technology from $135.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Barclays raised their target price on Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Finally, Bank of America raised their target price on Seagate Technology from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.32.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.