Seagate Technology (NASDAQ:STX) Trading Down 6.2% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded down 6.2% on Monday . The stock traded as low as $840.01 and last traded at $854.0050. Approximately 472,771 shares changed hands during trading, a decline of 89% from the average session volume of 4,218,140 shares. The stock had previously closed at $910.34.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research reports. Bank of America boosted their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Mizuho raised their price target on Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Sanford C. Bernstein lifted their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, BNP Paribas Exane increased their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $898.52.

Seagate Technology Price Performance

The company has a market capitalization of $193.36 billion, a P/E ratio of 81.82 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm’s 50-day moving average is $880.60 and its 200-day moving average is $572.75.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business 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 quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Buying and Selling

In related news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,069 shares of company stock valued at $126,191,753 in the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. WealthCollab LLC increased its stake in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Seagate Technology during the 1st quarter valued at $39,000. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology during the 4th quarter valued at $28,000. 92.87% of the stock is currently owned by 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.