Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 523 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 523 shares of Seagate Technology stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $835.54, for a total transaction of $436,987.42. Following the sale, the executive vice president directly owned 15,460 shares in the company, valued at $12,917,448.40. The trade was a 3.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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, August 21st, John Christopher Morris sold 3,516 shares of Seagate Technology stock. The stock was sold at an average price of $849.35, for a total transaction of $2,986,314.60.
• 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 transaction of $137,383.68.
• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value 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 value of $471,632.84.

Seagate Technology Trading Down 6.5%

STX opened at $794.65 on Tuesday. 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 Holdings PLC has a 52 week low of $158.68 and a 52 week high of $1,145.00. The stock has a market cap of $180.11 billion, a PE ratio of 57.25 and a beta of 2.06. The business has a 50 day moving average of $888.74 and a 200-day moving average of $685.82.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Key Stories 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of Seagate Technology by 102,975.8% in the 2nd quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock worth $305,658,775,000 after purchasing an additional 316,437,552 shares in the last quarter. Wellington Management Group LLP lifted its position in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology during the fourth quarter valued at about $498,363,000. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after buying an additional 943,170 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen cut 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 Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. China Renaissance increased their target price on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Susquehanna lifted their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

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.