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

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 3,516 shares of Seagate Technology stock in a transaction on Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $2,986,314.60. Following the sale, the executive vice president directly owned 12,805 shares in the company, valued at $10,875,926.75. The trade was a 21.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 stock was 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 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 Price Performance

Shares of NASDAQ:STX traded down $55.35 during trading on Monday, reaching $794.65. The company had a trading volume of 3,203,008 shares, compared to its average volume of 4,427,493. Seagate Technology Holdings PLC has a twelve month low of $158.68 and a twelve month high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The firm has a market capitalization of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. The firm’s fifty day moving average is $893.23 and its 200 day moving average is $683.35.

Seagate Technology (NASDAQ:STX) last issued its quarterly 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. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company posted $2.59 EPS. The firm’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

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 given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Institutional Investors Weigh In On Seagate Technology

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Rosenblatt Securities increased their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley upped their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. Melius Research began coverage on shares of Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price on the stock. Finally, Bank of America boosted their price target on shares of 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 research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.