Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 3,516 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 3,516 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $849.35, for a total value of $2,986,314.60. Following the transaction, the executive vice president owned 12,805 shares of the company’s stock, valued at approximately $10,875,926.75. This represents a 21.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Christopher Morris also recently made the following trade(s):

• On Thursday, August 20th, John Christopher Morris sold 523 shares of Seagate Technology stock. The stock was sold at an average price of $835.54, for a total value of $436,987.42.
• On Monday, August 3rd, John Christopher Morris sold 168 shares of Seagate Technology stock. The shares were sold at an average price of $817.76, for a total value of $137,383.68.
• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16.
• On Wednesday, June 10th, John Christopher Morris sold 574 shares of Seagate Technology stock. The stock was sold at an average price of $821.66, for a total transaction of $471,632.84.

Seagate Technology Stock Performance

Shares of STX opened at $794.65 on Tuesday. The firm has a 50-day moving average price of $888.74 and a 200 day moving average price of $685.82. The firm has a market capitalization of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 52-week low of $158.68 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors 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 yield of 0.4%. Seagate Technology’s payout ratio is presently 21.33%.

Analyst Upgrades and Downgrades

STX has been the topic of several research analyst reports. Loop Capital lifted 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. Wells Fargo & Company upped their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Finally, Wedbush lifted their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology News Summary

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

• Positive Sentiment: Several executive transactions, including sales by EVP John Christopher Morris and EVP Ban Seng Teh, were conducted under pre-arranged Rule 10b5-1 trading plans. This may reduce the extent to which the sales are interpreted as discretionary signals about Seagate’s near-term outlook.
• Neutral Sentiment: Seagate’s CEO William D. Mosley sold 18,138 shares for approximately $15.4 million, reducing his direct ownership by 5.73%. He still held 298,483 shares after the transaction. SEC filing for CEO stock sale
• Neutral Sentiment: CFO Gianluca Romano sold 9,076 shares for approximately $7.7 million, cutting his direct holdings by 28.30%, but retained 22,997 shares. SEC filing for CFO stock sale
• Negative Sentiment: Multiple insiders sold shares within two trading days at prices around $836 to $853. The transactions totaled roughly $38.4 million and included substantial reductions in holdings by several executive vice presidents, potentially weighing on sentiment. Seagate Technology slides amid broader tech sector weakness
• Negative Sentiment: The immediate broader-market catalyst was weakness across the technology sector, which pressured Seagate along with other high-beta technology stocks. The company’s elevated valuation and beta may amplify the impact of sector-wide selling.

Institutional Trading of Seagate Technology

A number of hedge funds have recently bought and sold shares of the company. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $23,882,000. New York State Teachers Retirement System grew its position in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares in the last quarter. Praxis Investment Management Inc. raised its stake in Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after purchasing an additional 10,190 shares in the last quarter. Finally, GLOBALT Investments LLC GA lifted its holdings in shares of Seagate Technology by 820.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock valued at $2,688,000 after purchasing an additional 8,700 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.