Seagate Technology (NASDAQ:STX) Shares Down 2.7% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price was down 2.7% during trading on Thursday . The company traded as low as $848.24 and last traded at $862.33. Approximately 3,056,401 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 4,341,430 shares. The stock had previously closed at $885.92.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Analyst commentary remains constructive on Seagate’s fiscal 2027 prospects. Cloud-storage demand, growing AI workloads and the company’s HAMR technology are expected to support revenue growth exceeding fiscal 2026 levels. Can Seagate Sustain Its Strong Revenue Growth in Fiscal 2027?
• Positive Sentiment: Seagate’s recent earnings momentum and exposure to AI infrastructure continue to underpin the bullish case; the company previously exceeded quarterly EPS and revenue expectations and issued strong fiscal 2027 guidance.
• Neutral Sentiment: Management presented at the Goldman Sachs Communacopia + Technology Conference, giving investors additional commentary on the company’s strategy and demand outlook, but no major new financial catalyst was identified. Seagate Technology Holdings plc Presents at Goldman Sachs Communacopia + Technology Conference 2026
• Negative Sentiment: Storage and semiconductor stocks came under selling pressure following an AI algorithmic-efficiency breakthrough, raising concerns that improved efficiency could reduce the near-term intensity of infrastructure spending. Seagate Stock Drops Friday: What’s Going On?
• Negative Sentiment: After roughly tripling during the year, Seagate stock is experiencing profit-taking as investors lock in gains. The pullback reflects elevated expectations and high valuation sensitivity across the storage group. Storage Stocks Slide as Profit Taking Follows Big Run
• Negative Sentiment: CEO William Mosley, CFO Gianluca Romano and executives John Morris and Ban Teh reported stock sales totaling about $4.7 million. The sales were relatively small compared with their remaining holdings, and Ban Teh’s transaction was executed under a pre-arranged Rule 10b5-1 plan, but the cluster of insider selling may add to short-term investor caution. SEC insider transaction filings

Analyst Ratings Changes

Several equities analysts have recently weighed in on STX shares. Mizuho upped their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Barclays boosted their target price on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Wedbush upped their price target on Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Performance

The stock has a market cap of $188.77 billion, a price-to-earnings ratio of 59.81 and a beta of 2.06. The company’s fifty day simple moving average is $848.79 and its two-hundred day simple moving average is $725.45. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business’s revenue was up 48.5% on a year-over-year basis. During the same period last year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Insider Activity

In other news, EVP John Morris sold 572 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $862.13, for a total value of $493,138.36. Following the completion of the sale, the executive vice president directly owned 15,707 shares of the company’s stock, valued at $13,541,475.91. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gianluca Romano sold 1,348 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $862.13, for a total value of $1,162,151.24. Following the completion of the transaction, the chief financial officer owned 28,930 shares in the company, valued at $24,941,420.90. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 186,731 shares of company stock worth $157,652,942. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. Retirement Wealth Solutions LLC lifted its position in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Seagate Technology in the 2nd quarter worth about $39,000. Trust Co. of Vermont purchased a new stake in Seagate Technology in the 2nd quarter valued at about $54,000. Triumph Capital Management increased its stake in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock valued at $58,000 after buying an additional 29 shares during the last quarter. Finally, Cornerstone Financial Management LLC lifted its position in shares of Seagate Technology by 109.7% during the 2nd quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after buying an additional 34 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.