Seagate Technology (NASDAQ:STX) Stock Price Down 2.9% After Insider Selling

Seagate Technology Holdings PLC (NASDAQ:STX) dropped 2.9% during trading on Monday following insider selling activity. The company traded as low as $782.08 and last traded at $831.06. 5,305,869 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 4,424,589 shares. The stock had previously closed at $856.13.

Specifically, EVP James Ci Lee sold 694 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $877.45, for a total value of $608,950.30. Following the completion of the transaction, the executive vice president directly owned 347 shares of the company’s stock, valued at $304,475.15. This represents a 66.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STX. Mizuho lifted their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Susquehanna raised their price target on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Performance

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 firm has a market cap of $186.35 billion, a price-to-earnings ratio of 59.87 and a beta of 2.06. The company has a fifty day moving average price of $896.91 and a two-hundred day moving average price of $629.98.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company earned $2.59 earnings per share. Seagate Technology’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, equities research analysts expect that Seagate Technology Holdings PLC will post 33.08 EPS for the current year.

Seagate Technology Dividend Announcement

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

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in STX. Integrated Wealth Concepts LLC grew its position in Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after buying an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at $262,000. Cerity Partners LLC boosted its stake in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.