Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s share price fell 8.1% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $555.00 and last traded at $557.06. 6,753,124 shares were traded during mid-day trading, an increase of 50% from the average daily volume of 4,488,740 shares. The stock had previously closed at $606.38.
Specifically, EVP John Morris sold 2,675 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $650.15, for a total transaction of $1,739,151.25. Following the completion of the sale, the executive vice president owned 20,933 shares in the company, valued at approximately $13,609,589.95. This trade represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 23,280 shares of Seagate Technology stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $602.44, for a total transaction of $14,024,803.20. Following the completion of the sale, the chief executive officer directly owned 352,828 shares in the company, valued at approximately $212,557,700.32. This represents a 6.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other Seagate Technology news, CEO William D. Mosley sold 6,720 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $622.82, for a total value of $4,185,350.40. Following the transaction, the chief executive officer directly owned 346,108 shares in the company, valued at $215,562,984.56. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Upgrades and Downgrades
STX has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 price target 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 report on Monday. Robert W. Baird set a $1,350.00 price objective on Seagate Technology in a report on Wednesday, October 28th. Wells Fargo & Company decreased their target price on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Finally, Wedbush restated an “outperform” rating and issued a $1,000.00 target price on shares of Seagate Technology in a research note on Wednesday, October 28th. Twenty-three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.88.
Check Out Our Latest Report on Seagate Technology
More Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate reported fiscal Q1 revenue growth of 61%, beat analysts’ earnings and revenue estimates, and cited AI-driven demand, favorable pricing and increased adoption of its HAMR drives. The strong start raises expectations for continued growth, though sustaining momentum is a key question. Seagate Revenue Soars 61% in Q1: Can This Momentum Continue?
- Positive Sentiment: A reported $1.2 billion debt repayment, strong free cash flow and a higher quarterly dividend point to improved financial flexibility and greater shareholder returns. Seagate’s $1.2 Billion Debt Paydown: What Comes Next for Investors?
- Neutral Sentiment: CEO William Mosley and EVP John Morris sold shares under pre-arranged Rule 10b5-1 plans. Planned sales can be less informative than discretionary trades, but the insider activity may draw investor attention. SEC filing for CEO share sale
- Negative Sentiment: Valuation concerns and reduced analyst price targets may be limiting enthusiasm after the stock’s sharp recent decline. That leaves STX vulnerable if AI-related storage demand, pricing or execution falls short of elevated expectations. Seagate Just Dropped 30% in a Month. Is It Time to Sell, or Load Up?
Seagate Technology Price Performance
The stock has a market cap of $127.88 billion, a PE ratio of 29.26 and a beta of 2.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25. The firm’s 50 day moving average price is $790.20 and its two-hundred day moving average price is $691.26.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.44 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The company’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.61 earnings per share. On average, research analysts expect that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current year.
Seagate Technology Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be paid a $0.76 dividend. The ex-dividend date is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is presently 15.55%.
Institutional Investors Weigh In On Seagate Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of STX. Signature Equity Partners LLC raised its stake in shares of Seagate Technology by 383.3% during the 3rd quarter. Signature Equity Partners LLC now owns 29 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Retirement Wealth Solutions LLC lifted its holdings in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in 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 worth $31,000 after purchasing an additional 15 shares during the period. WealthCollab LLC boosted its stake in Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Seagate Technology during the 1st quarter valued at about $39,000. Institutional investors own 92.87% of the company’s stock.
Seagate Technology Company Profile
Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.
The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.
Read More
- Five stocks we like better than Seagate Technology
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.
