Seagate Technology (NASDAQ:STX) Trading Down 6.9% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) fell 6.9% during trading on Monday . The company traded as low as $710.11 and last traded at $740.84. 4,928,978 shares were traded during mid-day trading, an increase of 16% from the average session volume of 4,248,063 shares. The stock had previously closed at $795.47.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STX. Argus boosted their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. BNP Paribas Exane boosted their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Citigroup boosted their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley boosted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, KeyCorp set a $500.00 target price on shares of Seagate Technology in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $733.71.

Seagate Technology Stock Performance

The firm’s 50-day moving average price is $541.33 and its two-hundred day moving average price is $401.33. The firm has a market capitalization of $168.41 billion, a PE ratio of 71.26 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its 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 firm’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $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 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid 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 0.4%. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Stephanie Tilenius sold 1,580 shares of Seagate Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the completion of the sale, the director owned 10,664 shares of the company’s stock, valued at $8,175,129.04. This trade represents a 12.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This trade represents a 32.00% 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 ninety days, insiders have sold 118,283 shares of company stock worth $65,989,618. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after acquiring an additional 442,749 shares in the last quarter. State Street Corp grew its position in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after acquiring an additional 94,527 shares in the last quarter. Morgan Stanley grew its position in Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after acquiring an additional 258,151 shares in the last quarter. WCM Investment Management LLC bought a new stake in Seagate Technology in the third quarter worth approximately $1,187,621,000. Finally, Geode Capital Management LLC grew its position in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. 92.87% of the stock is owned by 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.