Seagate Technology (NASDAQ:STX) Shares Gap Down – Time to Sell?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $828.30, but opened at $785.11. Seagate Technology shares last traded at $783.5790, with a volume of 697,274 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Susquehanna boosted their target price on Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Cantor Fitzgerald upped their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Citigroup raised their target price on Seagate Technology from $1,150.00 to $1,240.00 and gave the company a “buy” rating in a report on Monday. Finally, Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Seagate Technology Price Performance

The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $172.90 billion, a price-to-earnings ratio of 73.16 and a beta of 2.04. The company has a 50 day moving average of $887.33 and a 200 day moving average of $584.82.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm posted $1.90 EPS. The company’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts forecast 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 was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were 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 was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.

Insider Transactions at Seagate Technology

In other news, EVP John Christopher Morris sold 1,364 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the transaction, the executive vice president directly owned 12,088 shares in the company, valued at $10,639,736.72. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 151,069 shares of company stock valued at $126,191,753. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the business. Bridgewater Advisors Inc. boosted its position in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC raised its stake in shares of Seagate Technology by 2.1% during the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock worth $321,000 after purchasing an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after acquiring an additional 19 shares in the last quarter. Finally, WealthCollab LLC boosted its holdings in 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. Hedge funds and other institutional investors 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.