Seagate Technology (NASDAQ:STX) Shares Down 8.5% – Here’s Why

Posted by Stanley Muller on Jul 30th, 2026

Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s share price traded down 8.5% during trading on Tuesday . The stock traded as low as $698.99 and last traded at $747.30. 8,374,796 shares changed hands during mid-day trading, an increase of 93% from the average session volume of 4,339,400 shares. The stock had previously closed at $816.99.

Key Seagate Technology News

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

Positive Sentiment: Results exceeded expectations. Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus, while revenue rose 48.5% year over year to $3.63 billion, topping estimates of $3.50 billion. Management also highlighted record margins and strong cash generation. Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
Positive Sentiment: Guidance points to continued momentum. Seagate forecast fiscal first-quarter adjusted earnings of approximately $7.10 to $7.50 per share, well above Wall Street expectations, supported by robust data-center demand and AI-related storage growth. Seagate forecasts upbeat quarter on strong AI-driven storage demand
Positive Sentiment: AI storage demand and technology adoption are strengthening the growth outlook. Cloud customers are reserving nearline capacity through 2028, while Seagate’s Mozaic drives offer capacities of up to 44 terabytes. The company’s transition to heat-assisted magnetic recording (HAMR) is expected to increase areal density, support pricing power and improve operating leverage. How Seagate’s HAMR Shift Is Driving the Next AI Storage Growth Wave
Positive Sentiment: Analyst sentiment improved sharply. Barclays, JPMorgan, Wells Fargo, Citi, Rosenblatt, TD Cowen, Wedbush and Argus all raised price targets or maintained bullish ratings after the report. Zacks Research upgraded STX to “strong buy,” reinforcing the positive reaction.
Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The dividend provides modest income but is unlikely to be the primary stock catalyst.
Negative Sentiment: Valuation is a key risk. Analysts note that STX’s substantial 2026 rally and premium earnings multiple leave less room for execution errors, weaker pricing or any slowdown in AI infrastructure spending.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STX shares. BNP Paribas Exane boosted their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Loop Capital lifted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. TD Cowen boosted their price target on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, China Renaissance increased their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

View Our Latest Analysis on STX

Seagate Technology Trading Up 11.4%

The company’s fifty day moving average price is $895.22 and its two-hundred day moving average price is $622.36. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market cap of $190.97 billion, a P/E ratio of 61.36 and a beta of 2.04.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company posted $2.59 EPS. The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 26.84 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insider Activity

In related news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This represents a 68.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% 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. Over the last three months, insiders have sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

Several large investors have recently made changes to their positions in the business. State Street Corp lifted its position in Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley increased its position in Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares in the last quarter. Geode Capital Management LLC increased its position in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after acquiring an additional 243,551 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

(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.