Seagate Technology (NASDAQ:STX) Trading Down 5.2% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $886.20 and last traded at $915.19. Approximately 3,588,511 shares were traded during trading, a decline of 15% from the average session volume of 4,233,744 shares. The stock had previously closed at $965.00.

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 to $1,150 from $1,000 and kept a buy rating, signaling more upside if AI storage demand and earnings strength continue. Benzinga article
• Positive Sentiment: Multiple recent articles describe Seagate as a momentum and growth stock, citing strong earnings beats, HAMR qualification wins, and AI-driven data center demand as key reasons investors remain bullish on STX. Zacks article
• Positive Sentiment: Coverage comparing Seagate with Micron and other AI storage names continues to highlight Seagate as a key beneficiary of rising memory and storage demand in the AI infrastructure buildout. Zacks article
• Neutral Sentiment: Zacks Research downgraded Seagate from strong-buy to hold, suggesting some analysts think the stock may have already priced in a lot of the recent upside. Zacks article
• Neutral Sentiment: Recent commentary also notes that Seagate has surged sharply this year, so even with constructive fundamentals, investors may be questioning how much more upside remains after the rally. 247WallSt article

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STX shares. Wall Street Zen upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Susquehanna raised their price target on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Citigroup boosted their target price on Seagate Technology from $740.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $880.52.

Seagate Technology Stock Performance

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 has a market cap of $205.21 billion, a PE ratio of 86.83 and a beta of 2.04. The firm’s fifty day moving average is $835.80 and its 200 day moving average is $540.40.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Shankar Arumugavelu sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total value of $927,680.00. Following the transaction, the director owned 6,626 shares in the company, valued at approximately $6,146,807.68. This trade represents a 13.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. The trade was a 18.73% decrease in their position. 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. Over the last three months, insiders sold 121,069 shares of company stock valued at $98,747,112. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in the stock. Adelphi Trust Co purchased a new stake in Seagate Technology in the 2nd quarter valued at $345,000. Eastern Bank raised its holdings in shares of Seagate Technology by 14.1% during the 2nd quarter. Eastern Bank now owns 69,932 shares of the data storage provider’s stock worth $67,484,000 after acquiring an additional 8,628 shares during the period. VectorGlobal IAG Inc. acquired a new position in shares of Seagate Technology during the 1st quarter valued at about $219,000. Basecamp Wealth Advisors LLC boosted its position in shares of Seagate Technology by 10.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 559 shares of the data storage provider’s stock valued at $219,000 after acquiring an additional 55 shares during the last quarter. Finally, Evansbrook LLC purchased a new stake in shares of Seagate Technology in the first quarter valued at about $892,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.