Seagate Technology (NASDAQ:STX) Shares Down 10% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX) fell 10% on Thursday . The company traded as low as $739.47 and last traded at $745.49. 6,154,449 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 4,263,020 shares. The stock had previously closed at $828.30.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is being cited as a winner from AI-driven storage demand, with analysts and commentators pointing to strong revenue outlooks, margin expansion, and earnings growth potential. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Coverage on the “AI memory war” says Seagate, Western Digital, and Sandisk have posted solid financial performance, and that Seagate remains well-positioned with mostly Buy-rated analyst sentiment. Which Storage Stock Is Best Positioned to Win the AI Memory War? (STX)
• Positive Sentiment: Investor commentary argues Seagate has a cost advantage in hyperscale storage, reinforcing the bull case for the hard-drive maker. I Keep Buying Seagate Because It Has One Massive Cost Advantage Others Don’t
• Neutral Sentiment: Seagate’s upcoming fiscal fourth-quarter and full-year 2026 earnings report on July 28 is keeping investors focused on the next catalyst. Seagate Technology to Report Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results on July 28, 2026
• Negative Sentiment: Broader tech weakness and pressure on semiconductor and AI-related names are likely dragging on STX sentiment today, as investors de-risk from the sector. Sector Update: Tech Stocks Fall Thursday Afternoon
• Negative Sentiment: Commentary says the AI trade remains under pressure, with chip stocks broadly sliding, which adds headwinds for Seagate despite its storage-focused business model. The Chip-Stock Slide Isn’t Over. The AI Trade Is Still Under Pressure.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STX. Citigroup raised their price target on Seagate Technology from $1,150.00 to $1,240.00 and gave the stock a “buy” rating in a research report on Monday. Sanford C. Bernstein increased their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. TD Cowen raised their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Argus raised their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $898.52.

Seagate Technology Stock Down 10.0%

The company has a market capitalization of $167.16 billion, a P/E ratio of 70.73 and a beta of 2.04. 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 company has a 50 day moving average of $887.33 and a 200-day moving average of $584.82.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating 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 analyst estimates of $2.96 billion. During the same quarter in the prior year, the company posted $1.90 EPS. Seagate Technology’s quarterly 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 analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 989 shares of Seagate Technology stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president owned 4,290 shares in the company, valued at $3,776,015.10. The trade was a 18.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the transaction, the chief executive officer directly owned 311,517 shares in the company, valued at approximately $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of STX. State Street Corp raised its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley boosted its position in Seagate Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after acquiring an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after acquiring an additional 243,551 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.