Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 6,048 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 6,048 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $842.97, for a total value of $5,098,282.56. Following the sale, the executive vice president directly owned 15,072 shares in the company, valued at $12,705,243.84. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, August 21st, Ban Seng Teh sold 9,862 shares of Seagate Technology stock. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14.
• On Thursday, August 13th, Ban Seng Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80.
• On Friday, June 12th, Ban Seng Teh sold 989 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total transaction of $870,507.91.
• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18.

Seagate Technology Trading Down 6.5%

Shares of STX stock opened at $794.65 on Tuesday. 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 12-month low of $158.68 and a 12-month high of $1,145.00. The stock has a market capitalization of $180.11 billion, a P/E ratio of 57.25 and a beta of 2.06. The firm’s 50 day moving average is $888.74 and its 200 day moving average is $685.82.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. 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 dividend payout ratio is 21.33%.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Seagate Technology in the 2nd quarter worth $262,000. Cerity Partners LLC increased its stake in Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. raised its holdings in Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after acquiring an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after acquiring an additional 462 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Melius Research began coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Key Seagate Technology News

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

• Positive Sentiment: Several executive transactions, including sales by EVP John Christopher Morris and EVP Ban Seng Teh, were conducted under pre-arranged Rule 10b5-1 trading plans. This may reduce the extent to which the sales are interpreted as discretionary signals about Seagate’s near-term outlook.
• Neutral Sentiment: Seagate’s CEO William D. Mosley sold 18,138 shares for approximately $15.4 million, reducing his direct ownership by 5.73%. He still held 298,483 shares after the transaction. SEC filing for CEO stock sale
• Neutral Sentiment: CFO Gianluca Romano sold 9,076 shares for approximately $7.7 million, cutting his direct holdings by 28.30%, but retained 22,997 shares. SEC filing for CFO stock sale
• Negative Sentiment: Multiple insiders sold shares within two trading days at prices around $836 to $853. The transactions totaled roughly $38.4 million and included substantial reductions in holdings by several executive vice presidents, potentially weighing on sentiment. Seagate Technology slides amid broader tech sector weakness
• Negative Sentiment: The immediate broader-market catalyst was weakness across the technology sector, which pressured Seagate along with other high-beta technology stocks. The company’s elevated valuation and beta may amplify the impact of sector-wide selling.

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.