Seagate Technology (NASDAQ:STX) Trading Down 10.4% After Insider Selling

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) were down 10.4% on Thursday following insider selling activity. The stock traded as low as $795.66 and last traded at $820.16. Approximately 6,262,937 shares changed hands during trading, an increase of 47% from the average session volume of 4,249,854 shares. The stock had previously closed at $915.19.

Specifically, CEO William D. Mosley sold 20,657 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total value of $18,807,785.36. Following the transaction, the chief executive officer owned 320,860 shares of the company’s stock, valued at $292,136,612.80. The trade was a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the completion of the sale, the chief executive officer owned 311,517 shares in the company, valued at $287,972,545.14. The trade was a 2.91% 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 Ratings Changes

A number of analysts recently weighed in on the stock. Rosenblatt Securities raised their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Mizuho upped their price target on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Bank of America raised their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday. BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $880.52.

Seagate Technology News Roundup

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

• Positive Sentiment: Bank of America raised its price target on Seagate Technology to $1,150 from $1,000 and maintained a buy rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Zacks highlighted Seagate as a strong growth and momentum name, and separately upgraded the stock to a Zacks Rank #1 (Strong Buy), which may support investor sentiment. Article: Seagate (STX) Upgraded to Strong Buy: Here’s What You Should Know
• Positive Sentiment: Zacks also said Seagate has compelling growth attributes and strong momentum, while noting its data center business is benefiting from cloud demand, Mozaic adoption, and long-term supply agreements through fiscal 2027. Article: Seagate (STX) is an Incredible Growth Stock: 3 Reasons Why
• Neutral Sentiment: Seagate CEO William D. Mosley disclosed two pre-arranged Rule 10b5-1 stock sales totaling 30,000 shares. Because the trades were planned in advance, they are not necessarily a negative operational signal, but they can still weigh on sentiment. Article: SEC Form 4 Filing
• Neutral Sentiment: Recent commentary also pointed to Seagate’s strong data center momentum, which remains a core long-term growth driver for the business. Article: Can Seagate’s Data Center Business Maintain its Growth Momentum?
• Negative Sentiment: Shares of Seagate and other memory stocks were hit by renewed fears of a memory supply glut, prompting a broad selloff across the group.

Seagate Technology Trading Down 10.4%

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 firm has a market cap of $183.90 billion, a PE ratio of 77.81 and a beta of 2.04. The company’s 50-day moving average is $843.31 and its 200 day moving average is $544.68.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

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

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC grew its stake in Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology in the second quarter worth approximately $262,000. Cerity Partners LLC lifted its position in shares of Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after purchasing an additional 7,517 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after purchasing an additional 462 shares during the period. 92.87% of the stock is owned by hedge funds and other 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.