Seagate Technology (NASDAQ:STX) Shares Gap Down – Here’s Why

Posted by Stanley Muller on Jul 10th, 2026

Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $890.09, but opened at $861.63. Seagate Technology shares last traded at $912.4390, with a volume of 264,322 shares trading hands.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

Positive Sentiment: Wells Fargo upgraded Seagate Technology from equal weight to overweight and raised its price target to $1,100 from $900, signaling meaningful upside from recent levels. Benzinga article
Positive Sentiment: Additional analyst coverage and price-target updates from firms including Susquehanna and Melius Research are reinforcing the view that Seagate can benefit from tighter HDD supply and stronger pricing power. Susquehanna price target article
Positive Sentiment: Investor enthusiasm remains tied to AI data center demand, which is lifting storage stocks broadly as hyperscalers and memory customers continue to build out infrastructure. AI data center demand article
Positive Sentiment: Recent reports note that Seagate’s HAMR technology and role in high-capacity hard drives are central to the bullish thesis, with some commentary suggesting the stock still has room to run after a huge year-to-date advance. Zacks article
Neutral Sentiment: Coverage from chart watchers and market analysts is highlighting Seagate as a notable momentum name, but these pieces are more about confirming the existing trend than introducing a new catalyst. Chart of the Day: STX

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STX. Rosenblatt Securities increased their price target on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Morgan Stanley upped their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Wells Fargo & Company upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $900.00 to $1,100.00 in a research note on Friday. Finally, Bank of America lifted their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $894.92.

Get Our Latest Stock Report on Seagate Technology

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a fifty day simple moving average of $875.26 and a 200 day simple moving average of $568.33. The company has a market capitalization of $203.28 billion, a PE ratio of 85.91 and a beta of 2.04.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This represents a 34.42% decrease in their position. The sale 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. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,069 shares of company stock valued at $126,191,753 in the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares during the period. Salomon & Ludwin LLC boosted its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. WealthCollab LLC grew its stake in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in Seagate Technology in the first quarter worth about $39,000. Finally, Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

(Get Free Report)

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.