Ban Seng Teh Sells 989 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Teh sold 989 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $779.00, for a total value of $770,431.00. Following the transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at approximately $4,525,990. This trade represents a 14.55% decrease in their ownership of the stock. The sale 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.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, September 10th, Ban Teh sold 663 shares of Seagate Technology stock. The stock was sold at an average price of $860.09, for a total value of $570,239.67.
• On Thursday, August 20th, Ban Teh sold 6,048 shares of Seagate Technology stock. The shares were sold at an average price of $842.97, for a total value of $5,098,282.56.
• On Friday, August 21st, Ban Teh sold 9,862 shares of Seagate Technology stock. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14.
• On Thursday, August 13th, Ban Teh sold 7,361 shares of Seagate Technology stock. The stock was sold at an average price of $920.80, for a total value of $6,778,008.80.

Seagate Technology Stock Performance

STX traded down $33.74 during trading hours on Tuesday, hitting $771.81. The stock had a trading volume of 4,043,886 shares, compared to its average volume of 4,336,638. Seagate Technology Holdings PLC has a 1 year low of $206.26 and a 1 year high of $1,145.00. The company’s fifty day simple moving average is $847.53 and its 200 day simple moving average is $730.58. The stock has a market cap of $175.50 billion, a PE ratio of 55.61 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is currently 21.33%.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently made changes to their positions in STX. Geode Capital Management LLC raised its holdings 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 acquiring an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after purchasing an additional 243,551 shares during the last quarter. Wellington Management Group LLP increased its position in shares of 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 worth $2,329,641,000 after purchasing an additional 2,326,538 shares during the last quarter. Norges Bank purchased a new stake in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Finally, Deutsche Bank AG lifted its position in Seagate Technology by 102.0% during the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after purchasing an additional 807,962 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. China Renaissance raised their price target on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Wells Fargo & Company raised their target price on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Melius Research initiated coverage on Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. Finally, Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $986.00.

Key Headlines Impacting Seagate Technology

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

About Seagate Technology

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.