Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 493 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Morris sold 493 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $781.23, for a total transaction of $385,146.39. Following the sale, the executive vice president directly owned 16,468 shares of the company’s stock, valued at $12,865,295.64. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Christopher Morris also recently made the following trade(s):

• On Thursday, September 10th, John Morris sold 572 shares of Seagate Technology stock. The stock was sold at an average price of $862.13, for a total transaction of $493,138.36.
• On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The shares were sold at an average price of $849.35, for a total transaction of $2,986,314.60.
• On Thursday, August 20th, John Morris sold 523 shares of Seagate Technology stock. The shares were sold at an average price of $835.54, for a total transaction of $436,987.42.
• On Monday, August 3rd, John Morris sold 168 shares of Seagate Technology stock. The stock was sold at an average price of $817.76, for a total transaction of $137,383.68.

Seagate Technology Stock Down 4.2%

NASDAQ:STX traded down $33.74 during trading hours on Tuesday, hitting $771.81. 4,043,886 shares of the stock traded hands, compared to its average volume of 4,336,638. The firm has a 50 day moving average price of $847.53 and a 200 day moving average price of $730.58. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a fifty-two week low of $206.26 and a fifty-two week high of $1,145.00. The firm has a market cap of $175.50 billion, a price-to-earnings ratio of 55.61 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Seagate Technology News Summary

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

• Positive Sentiment: Fidelity’s Dividend Growth Fund identified Seagate as a primary beneficiary of AI-driven hard-disk-drive demand. The investment case centers on rising data-storage requirements, strong nearline demand and Seagate’s exposure to hyperscale customers. Seagate Technology Primary Beneficiary of AI Driven HDD Demand
• Positive Sentiment: Seagate’s research found that 99% of organizations expect AI to increase storage needs, while only 38% say they are fully prepared. The findings support a long-term growth narrative for hard drives and enterprise storage infrastructure. Global Seagate Research Finds AI Will Increase Storage Requirements
• Positive Sentiment: Recent coverage says Seagate is shipping next-generation HAMR drives into hyperscale contracts, while nearline capacity is reportedly committed through 2027. That execution could strengthen its position versus Western Digital in AI-related storage. Seagate Versus Western Digital on AI Storage Demand
• Neutral Sentiment: Seagate’s Edge IoT revenue rose 20% year over year in fiscal fourth quarter, but analysts warn that seasonality, SSD displacement and competition could limit the business’s growth momentum. Seagate Edge IoT Business Growth
• Negative Sentiment: Investors are questioning whether STX can sustain its rapid gains at a high valuation, particularly after reports that its CEO, CFO and CTO have sold shares. An executive sale totaling about $493,000 adds to governance and sentiment concerns. Seagate Insider Selling
• Negative Sentiment: A broader decline in AI-linked stocks followed calls from major AI executives for a more deliberate pace of frontier-model development, raising concerns about the timing of AI infrastructure spending. Seagate was pressured alongside Western Digital and other technology names. AI-Linked Stocks Fall

Analysts Set New Price Targets

Several equities analysts have weighed in on STX shares. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Bank of America raised their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Susquehanna upped their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Citigroup increased their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after buying an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares in the last quarter. Wellington Management Group LLP lifted its stake in Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after acquiring an additional 2,326,538 shares during the last quarter. Norges Bank acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Finally, Deutsche Bank AG grew its position in Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after acquiring an additional 807,962 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.