Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells $608,950.30 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP James Ci Lee sold 694 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total value of $608,950.30. Following the completion of the sale, the executive vice president directly owned 347 shares of the company’s stock, valued at approximately $304,475.15. The trade was a 66.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Stock Down 2.9%

NASDAQ:STX traded down $25.07 during mid-day trading on Monday, reaching $831.06. The stock had a trading volume of 5,307,111 shares, compared to its average volume of 4,424,589. The stock has a market cap of $186.35 billion, a P/E ratio of 59.87 and a beta of 2.06. The business’s 50 day moving average is $896.91 and its 200 day moving average is $629.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. Seagate Technology Holdings PLC has a fifty-two week low of $144.75 and a fifty-two week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.59 earnings per share. 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 33.08 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared 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 is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is currently 21.33%.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its stake 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 valued at $2,587,535,000 after purchasing an additional 94,527 shares during the last quarter. Morgan Stanley grew 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 worth $1,464,391,000 after purchasing an additional 258,151 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after purchasing an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after buying an additional 1,883,769 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. UBS Group boosted their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Susquehanna boosted their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Argus upped their price target on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America increased their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $986.00.

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.