Seagate Technology (NASDAQ:STX) Director Prat Bhatt Sells 1,000 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Prat Bhatt sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $929.88, for a total value of $929,880.00. Following the completion of the transaction, the director directly owned 12,869 shares of the company’s stock, valued at approximately $11,966,625.72. The trade was a 7.21% decrease in their position. The sale was disclosed in a filing 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.

Seagate Technology Price Performance

Shares of STX opened at $926.61 on Wednesday. Seagate Technology Holdings PLC has a 12-month low of $118.75 and a 12-month high of $953.72. The business has a 50-day simple moving average of $621.76 and a two-hundred day simple moving average of $437.45. 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 cap of $207.77 billion, a PE ratio of 87.91 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Investment Consultants LLC bought a new stake in shares of Seagate Technology during the 1st quarter valued at about $262,000. Cozad Asset Management Inc. boosted its position in shares of Seagate Technology by 6.7% during the 1st quarter. Cozad Asset Management Inc. now owns 2,661 shares of the data storage provider’s stock valued at $1,042,000 after purchasing an additional 166 shares in the last quarter. Summitry LLC bought a new stake in shares of Seagate Technology during the 1st quarter valued at about $211,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Seagate Technology during the 1st quarter valued at about $322,000. Finally, Paragon Private Wealth Management LLC boosted its position in shares of Seagate Technology by 12.6% during the 1st quarter. Paragon Private Wealth Management LLC now owns 7,678 shares of the data storage provider’s stock valued at $3,008,000 after purchasing an additional 857 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology Holdings PLC (STX) to $1,150 from $740 and reiterated a Buy rating, signaling meaningful upside from current levels and likely supporting investor sentiment.
• Positive Sentiment: Seagate also benefited from news that it reached a $175 million settlement over shareholder claims tied to alleged sales to Huawei, which may reduce legal uncertainty that has weighed on the stock. Article Title
• Neutral Sentiment: Recent Q1 earnings coverage suggests investors are still comparing Seagate’s results and outlook with other semiconductor names, but no new operating update was included in the latest items. Article Title
• Negative Sentiment: CEO William D. Mosley sold shares in two separate pre-arranged Rule 10b5-1 transactions, and director Prat Bhatt and director Yolanda Lee Conyers also sold stock. While planned sales are often routine, multiple insider sales can create a mild headwind for sentiment.

Analyst Upgrades and Downgrades

STX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group increased their price target on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Mizuho increased their price target on Seagate Technology from $565.00 to $700.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. TD Cowen increased their price target on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Citigroup increased their price target on Seagate Technology from $740.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $772.04.

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.