Seagate Technology (NASDAQ:STX) Shares Down 5.7% – Time to Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) fell 5.7% on Tuesday . The company traded as low as $396.00 and last traded at $400.8040. 1,210,007 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,858,392 shares. The stock had previously closed at $425.00.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STX. KeyCorp set a $500.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 28th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. Citigroup upped their target price on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Fox Advisors raised their price target on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued 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 price target of $444.09.

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business has a 50 day moving average of $323.64 and a 200 day moving average of $251.37. The company has a market cap of $86.48 billion, a PE ratio of 44.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the company posted $2.03 EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio is 33.48%.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the sale, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This represents a 80.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the completion of the sale, the chief executive officer directly owned 410,056 shares in the company, valued at $176,024,739.12. This represents a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 137,976 shares of company stock valued at $45,330,378 over the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in the stock. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the 2nd quarter valued at approximately $27,000. Salomon & Ludwin LLC increased its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the 4th quarter worth about $28,000. Finally, Avion Wealth grew its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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.