Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) dropped 3.2% during mid-day trading on Thursday. The stock traded as low as $652.29 and last traded at $690.81. Approximately 5,858,335 shares changed hands during trading, an increase of 33% from the average daily volume of 4,393,910 shares. The stock had previously closed at $713.54.
Trending Headlines about Seagate Technology
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Wells Fargo lowered its price target to $865 from $1,180 but retained an “overweight” rating, implying substantial upside from current levels. The reduced target reflects a more cautious outlook, while the continued bullish rating suggests analysts believe market fears have become overdone. Seagate and Western Digital Stocks Have Tanked on Toshiba Fears. Wells Fargo Is Still Bullish.
- Positive Sentiment: Seagate’s 44TB Mozaic 4 drives could support further gross-margin expansion through higher storage density, improved cost efficiency and strong cloud-storage demand. This strengthens the potential earnings benefit from artificial-intelligence-related data growth. Can Seagate’s 44TB Mozaic 4 Drives Lift Gross Margins Further?
- Positive Sentiment: Despite the sector selloff, commentary points to a potentially long runway for data-storage demand as cloud providers and AI systems require increasing capacity. Seagate Could Have a Long Runway as Data Storage Demand Explodes
- Neutral Sentiment: The Wells Fargo target reduction highlights greater uncertainty around industry pricing, competition and the pace of AI-related spending, even though the firm sees an attractive risk-reward profile.
- Negative Sentiment: Investors remain concerned that Toshiba-related developments and rising competition could pressure Seagate and Western Digital, while a broader technology and AI-trade selloff is adding to the sector’s volatility. These fears are the main drivers weighing on STX today. WDC, STX Stocks Headed For Third Straight Weekly Loss
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on STX shares. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Weiss Ratings lowered Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. JPMorgan Chase & Co. upped their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $973.40.
Check Out Our Latest Stock Analysis on STX
Seagate Technology Trading Down 7.5%
The firm has a market capitalization of $145.30 billion, a PE ratio of 46.04 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 business has a fifty day moving average price of $842.38 and a two-hundred day moving average price of $801.46.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data 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 return on equity of 369.98% and a net margin of 26.11%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $2.59 EPS. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts expect that Seagate Technology Holdings PLC will post 35.70 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were given a dividend of $0.74 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.5%. Seagate Technology’s dividend payout ratio (DPR) is currently 21.33%.
Insider Activity at Seagate Technology
In other news, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the transaction, the chief financial officer directly owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William D. Mosley sold 11,002 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $935.60, for a total transaction of $10,293,471.20. Following the completion of the transaction, the chief executive officer owned 362,108 shares in the company, valued at approximately $338,788,244.80. This represents a 2.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 466,959 shares of company stock valued at $378,840,741 over the last 90 days. Insiders own 0.51% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after buying an additional 2,326,538 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Amanah Holdings Trust purchased a new position in Seagate Technology during the 4th quarter valued at about $79,801,000. Swedbank AB boosted its holdings in Seagate Technology by 67.6% during the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after acquiring an additional 285,949 shares during the period. Finally, Amundi boosted its holdings in Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.
About Seagate Technology
Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.
The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.
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