Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 7,557 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 7,557 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $813.45, for a total transaction of $6,147,241.65. Following the sale, the executive vice president owned 3,691 shares in the company, valued at $3,002,443.95. This represents a 67.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84.

Seagate Technology Stock Down 1.5%

STX stock opened at $804.76 on Friday. Seagate Technology Holdings PLC has a 52-week low of $103.73 and a 52-week high of $841.31. The company’s 50 day simple moving average is $517.83 and its 200-day simple moving average is $390.41. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market capitalization of $180.45 billion, a P/E ratio of 76.35 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $1.90 earnings per share. The firm’s revenue 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. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s payout ratio is currently 28.08%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth $28,000. Avion Wealth increased its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Seagate Technology during the 4th quarter worth $28,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $450.00 to $700.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Wedbush upped their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. BNP Paribas Exane upped their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. TD Cowen upped their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird upped their price objective on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.54.

More Seagate Technology News

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

• Positive Sentiment: Evercore and other analysts raised their price targets on Seagate, citing HAMR adoption, strong AI-related storage demand, and improving growth prospects. Article Title
• Positive Sentiment: Recent coverage highlighted booming AI-led storage demand and strong free cash flow, which supports the case for continued upside in Seagate’s earnings power. Article Title
• Neutral Sentiment: Seagate announced the planned retirement of Lead Independent Director Mike Cannon, a governance change that could raise some questions but does not directly alter the company’s operating outlook. Article Title
• Negative Sentiment: EVP Ban Seng Teh sold a large block of shares under a pre-arranged 10b5-1 plan, which may weigh on sentiment even though the sale was scheduled in advance. Article Title

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.