Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 168 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 168 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total value of $137,383.68. Following the completion of the sale, the executive vice president directly owned 11,920 shares of the company’s stock, valued at approximately $9,747,699.20. This represents a 1.39% decrease in their position. The sale was disclosed in a 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.

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

• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The stock was 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 Trading Up 1.7%

Shares of STX opened at $845.35 on Wednesday. Seagate Technology Holdings PLC has a fifty-two week low of $144.75 and a fifty-two week high of $1,145.00. The firm has a market cap of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. The firm has a 50 day moving average price of $897.27 and a 200-day moving average price of $637.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 33.08 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Seagate Technology News Summary

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

• Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual level of visibility for a cyclical storage company. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
• Positive Sentiment: Seagate’s fundamentals remain strong. The company recently reported quarterly EPS of $5.71, exceeding the $5.10 analyst consensus, while revenue reached $3.63 billion versus expectations of $3.50 billion. Revenue rose 48.5% year over year, and management issued quarterly EPS guidance of $7.10 to $7.50. 5 Momentum Stocks to Buy for August Despite a Mixed July
• Positive Sentiment: Seagate remains a favored momentum stock. Analysts continue to point to AI infrastructure spending, earnings growth and financial strength as reasons to consider STX among August’s momentum opportunities. Zacks 5 Momentum Stocks to Buy
• Neutral Sentiment: Insiders reported several planned sales. CEO William D. Mosley sold 30,000 shares for approximately $24.5 million across two transactions, while EVP John Christopher Morris sold 168 shares. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as indicators of management’s current outlook. Seagate CEO Form 4 Filing
• Negative Sentiment: Sector-wide selling is pressuring STX. Seagate fell alongside Western Digital, Micron and other memory stocks as investors took profits and reassessed cyclical demand and elevated valuations. STX’s beta of 2.06 and valuation near 60 times earnings point to heightened sensitivity to sector sentiment. Seagate and Western Digital Dive as Memory Stocks Cool

Analysts Set New Price Targets

A number of brokerages have commented on STX. Evercore lifted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Wedbush increased their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Argus upped their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, BNP Paribas Exane raised their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in the stock. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Seagate Technology in the 4th quarter valued at approximately $23,882,000. New York State Teachers Retirement System boosted its position in shares of Seagate Technology by 5.0% during 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 in the last quarter. Praxis Investment Management Inc. grew 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 worth $1,822,000 after purchasing an additional 2,389 shares during the period. Sumitomo Mitsui Trust Group Inc. grew 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 worth $142,874,000 after purchasing an additional 6,028 shares during the period. Finally, Ritholtz Wealth Management raised its holdings in Seagate Technology by 64.5% in the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock worth $5,872,000 after purchasing an additional 8,358 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.