Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 574 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 574 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84. Following the completion of the transaction, the executive vice president directly owned 12,199 shares in the company, valued at $10,023,430.34. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, May 4th, John Christopher Morris sold 5,626 shares of Seagate Technology stock. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62.

Seagate Technology Trading Up 6.4%

NASDAQ STX opened at $868.09 on Friday. The firm’s 50-day moving average is $699.38 and its two-hundred day moving average is $472.60. Seagate Technology Holdings PLC has a 12 month low of $124.63 and a 12 month high of $966.80. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market capitalization of $194.65 billion, a P/E ratio of 82.36 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. 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 firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is currently 28.08%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Morgan Stanley increased their price target on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $798.50.

Institutional Trading of Seagate Technology

Large investors have recently made changes to their positions in the company. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Seagate Technology during the fourth quarter worth approximately $23,882,000. New York State Teachers Retirement System increased its stake in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after purchasing an additional 6,028 shares during the last quarter. Praxis Investment Management Inc. increased its stake in Seagate Technology by 56.5% in the fourth 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 last quarter. Finally, Keystone Investors PTE Ltd. increased its stake in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after purchasing an additional 18,000 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Seagate Technology News

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

• Positive Sentiment: JPMorgan raised its price target on Seagate and kept an Overweight rating, reinforcing bullish sentiment around the company’s AI-driven storage demand. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Additional bullish coverage emphasized Seagate as a key beneficiary of AI infrastructure spending, helping support the stock’s recent strength. Seagate Technology (STX) Gaining on Unprecedented AI-Driven Demand
• Positive Sentiment: Analysts and market commentary continue to point to strong storage demand, improved margins, and earnings momentum as reasons investors are re-rating the stock higher. STX Stock Tops Industry Returns in 3 Months: A Smart Investment Now?

About Seagate Technology

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.