Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 6,048 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 6,048 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $842.97, for a total transaction of $5,098,282.56. Following the completion of the sale, the executive vice president directly owned 15,072 shares of the company’s stock, valued at $12,705,243.84. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 21st, Ban Seng Teh sold 9,862 shares of Seagate Technology stock. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14.
• 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 value of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The stock was sold at an average price of $821.86, for a total value of $544,893.18.

Seagate Technology Price Performance

Seagate Technology stock traded down $55.35 during mid-day trading on Monday, reaching $794.65. 3,203,008 shares of the company were exchanged, compared to its average volume of 4,427,493. The firm has a market cap of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The company has a fifty day simple moving average of $893.23 and a 200-day simple moving average of $683.35. Seagate Technology Holdings PLC has a 12 month low of $158.68 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share 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 the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company’s revenue was up 48.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Melius Research began coverage on Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. Bank of America lifted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Wells Fargo & Company upped their price objective on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Rosenblatt Securities raised their price objective on 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. Finally, UBS Group raised their price objective on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. One research 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’s stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC lifted its stake in shares of Seagate Technology by 70.6% in 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 last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at $39,000. Trust Co. of Vermont bought a new stake in Seagate Technology during the 2nd quarter worth $54,000. Triumph Capital Management grew its position in Seagate Technology by 93.5% during the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 29 shares during the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in Seagate Technology by 712.5% in the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock worth $62,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.