Seagate Technology (NASDAQ:STX) EVP Sells 663 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Teh sold 663 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $860.09, for a total value of $570,239.67. Following the transaction, the executive vice president owned 5,810 shares of the company’s stock, valued at $4,997,122.90. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, August 20th, Ban Teh sold 6,048 shares of Seagate Technology stock. The stock was sold at an average price of $842.97, for a total value of $5,098,282.56.
• On Friday, August 21st, Ban Teh sold 9,862 shares of Seagate Technology stock. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14.
• On Thursday, August 13th, Ban Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total value of $6,778,008.80.

Seagate Technology Stock Performance

STX stock traded down $32.60 during midday trading on Friday, reaching $829.73. 3,838,915 shares of the company were exchanged, compared to its average volume of 4,338,222. Seagate Technology Holdings PLC has a one year low of $193.32 and a one year high of $1,145.00. The firm has a market capitalization of $188.67 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06. The business has a 50-day moving average price of $848.58 and a two-hundred day moving average price of $724.71. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s revenue 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 forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared 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 is currently 21.33%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. Mizuho upped their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wells Fargo & Company lifted their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Wedbush upped their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, Rosenblatt Securities increased their price objective on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. 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 valued at $305,658,775,000 after purchasing an additional 316,437,552 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after buying an additional 2,326,538 shares during the last quarter. Norges Bank acquired a new stake in Seagate Technology in the fourth quarter valued at about $498,363,000. Soroban Capital Partners LP boosted its stake 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 valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in 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 valued at $378,985,000 after acquiring an additional 943,170 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.