Seagate Technology (NASDAQ:STX) Trading Down 2.7% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) fell 2.7% during trading on Thursday . The stock traded as low as $848.24 and last traded at $862.33. Approximately 3,056,401 shares changed hands during trading, a decline of 30% from the average daily volume of 4,341,430 shares. The stock had previously closed at $885.92.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate expects fiscal 2027 revenue growth to exceed fiscal 2026, supported by cloud spending, AI adoption and expanding demand for mass-capacity storage. The outlook suggests momentum may continue beyond the company’s recent earnings growth. Can Seagate Sustain Its Strong Revenue Growth in Fiscal 2027?
• Positive Sentiment: Seagate’s HAMR technology and Mozaic platform are increasing drive capacity, exabyte shipments and efficiency, positioning the company to benefit from customers’ need for higher-capacity data-center storage. Seagate’s HAMR Bet is Paying Off
• Positive Sentiment: Commentary comparing Seagate with Vertiv identifies both as beneficiaries of AI infrastructure spending and highlights Seagate’s strong earnings performance. Reports that much of Seagate’s current production is already committed also point to robust near-term demand. The Two Most Compelling AI Infrastructure Plays Right Now
• Neutral Sentiment: Seagate completed the redemption of its exchangeable notes, an action that removes a financing obligation but does not materially change the company’s operating outlook. Seagate Completes Redemption of Exchangeable Notes
• Negative Sentiment: After roughly quadrupling over the past year and trading at a high earnings multiple, STX is vulnerable to profit-taking. Further upside depends on sustained AI demand, successful HAMR expansion and continued execution, leaving little room for disappointment. Price Prediction: Seagate Stock Will Hit $1000 on This Date

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Rosenblatt Securities upped their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Citigroup upped their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Susquehanna raised their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Stock Performance

The company has a 50-day moving average of $847.74 and a 200-day moving average of $721.54. The company has a market cap of $195.45 billion, a PE ratio of 62.13 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

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, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business posted $2.59 EPS. The business’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders 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 dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Transactions at Seagate Technology

In other news, EVP James Lee sold 9,013 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $794.84, for a total value of $7,163,892.92. Following the sale, the executive vice president owned 347 shares of the company’s stock, valued at $275,809.48. The trade was a 96.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 9,862 shares of Seagate Technology stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 5,210 shares of the company’s stock, valued at $4,443,973.70. This represents a 65.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 186,323 shares of company stock valued at $157,393,279 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. NewEdge Advisors LLC grew its holdings 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 worth $8,637,000 after acquiring an additional 10,190 shares during the period. GLOBALT Investments LLC GA grew its stake in Seagate Technology by 820.8% in the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after purchasing an additional 8,700 shares during the period. Tredje AP fonden grew its position in shares of Seagate Technology by 446.6% in the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after buying an additional 90,968 shares during the period. USA Financial Formulas bought a new position in shares of Seagate Technology in the 1st quarter worth about $1,328,000. Finally, Profund Advisors LLC increased its stake in shares of Seagate Technology by 458.6% in the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider’s stock worth $5,585,000 after acquiring an additional 16,651 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.