Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 9,862 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 9,862 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president owned 5,210 shares of the company’s stock, valued at approximately $4,443,973.70. This represents a 65.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, August 20th, Ban Seng Teh sold 6,048 shares of Seagate Technology stock. The stock was sold at an average price of $842.97, for a total transaction of $5,098,282.56.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80.
• On Friday, June 12th, Ban Seng Teh sold 989 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18.

Seagate Technology Stock Performance

STX stock opened at $794.65 on Tuesday. The stock has a market capitalization of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. Seagate Technology Holdings PLC has a 12-month low of $158.68 and a 12-month high of $1,145.00. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock’s 50 day simple moving average is $888.74 and its 200 day simple moving average is $685.82.

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

Seagate Technology Announces Dividend

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

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. Concord Wealth Partners bought a new stake in shares of Seagate Technology during the 4th quarter valued at $28,000. Retirement Wealth Solutions LLC grew its position in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Seagate Technology in the 4th quarter worth $31,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wells Fargo & Company raised their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. UBS Group boosted their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Key Headlines Impacting Seagate Technology

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.

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.