Seagate Technology (NASDAQ:STX) Trading Down 1.2% on Insider Selling

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) dropped 1.2% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $765.77 and last traded at $795.47. Approximately 2,728,171 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 4,240,133 shares. The stock had previously closed at $804.76.

Specifically, EVP Ban Seng Teh sold 7,557 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $813.45, for a total transaction of $6,147,241.65. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,002,443.95. This represents a 67.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

STX has been the subject of several analyst reports. Barclays increased their price target on shares of Seagate Technology from $625.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. China Renaissance increased their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. TD Cowen increased their price target on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Bank of America increased their price target on shares of Seagate Technology from $700.00 to $840.00 and gave the company a “buy” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $733.71.

More Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Seagate Technology Stock Down 1.2%

The stock has a market capitalization of $178.37 billion, a PE ratio of 75.47 and a beta of 1.98. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company’s 50-day moving average is $517.83 and its 200 day moving average is $390.41.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue was up 44.1% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the period. Salomon & Ludwin LLC increased its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares during the period. WealthCollab LLC increased its holdings in Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Seagate Technology in the 1st quarter worth approximately $39,000. Finally, Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the 4th quarter worth approximately $28,000. 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.