Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) EVP Ban Seng Teh sold 663 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18. Following the completion of the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,525,779.40. This represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Wednesday, May 13th, Ban Seng Teh sold 7,557 shares of Seagate Technology stock. The shares were sold at an average price of $813.45, for a total transaction of $6,147,241.65.
- On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84.
Seagate Technology Stock Up 7.3%
NASDAQ:STX opened at $931.04 on Friday. The firm’s 50 day simple moving average is $709.54 and its 200 day simple moving average is $475.81. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology Holdings PLC has a one year low of $124.63 and a one year high of $966.80. The company has a market cap of $208.77 billion, a PE ratio of 88.33 and a beta of 2.04.
Seagate Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after purchasing an additional 442,749 shares during the last quarter. State Street Corp increased its position in shares of Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after purchasing an additional 94,527 shares during the last quarter. Morgan Stanley increased its position in shares of Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after purchasing an additional 258,151 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.
Key Headlines Impacting Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
- Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
- Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
- Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
- Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock
Wall Street Analyst Weigh In
A number of research firms have issued reports on STX. UBS Group lifted their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Sanford C. Bernstein raised their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Mizuho raised their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Loop Capital upped their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Bank of America upped their price target on Seagate Technology from $900.00 to $1,000.00 in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $820.63.
Get Our Latest Stock Report on STX
About Seagate Technology
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.
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