Seagate Technology (NASDAQ:STX) Shares Gap Down Following Analyst Downgrade

Seagate Technology Holdings PLC (NASDAQ:STX) gapped down prior to trading on Tuesday after Fox Advisors downgraded the stock from an overweight rating to an equal weight rating. The stock had previously closed at $1,094.04, but opened at $984.26. Seagate Technology shares last traded at $1,015.8370, with a volume of 847,614 shares trading hands.

Several other equities analysts also recently weighed in on the company. BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Morgan Stanley increased their price target on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Evercore raised their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Citigroup lifted their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Wedbush upped their target price on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $831.79.

Insider Activity at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the sale, the chief financial officer owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 1,768 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,556,175.92. Following the completion of the transaction, the chief executive officer owned 327,517 shares of the company’s stock, valued at $288,277,188.23. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 141,069 shares of company stock worth $107,161,712 over the last quarter. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of STX. Evansbrook LLC acquired a new stake in shares of Seagate Technology in the 1st quarter valued at $892,000. Parallel Advisors LLC increased its holdings in Seagate Technology by 11.1% in the first quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider’s stock valued at $1,706,000 after buying an additional 435 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in Seagate Technology in the first quarter valued at $262,000. Finally, Cozad Asset Management Inc. lifted its holdings in 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 worth $1,042,000 after buying an additional 166 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 6.6%

The company has a 50-day moving average price of $781.00 and a 200-day moving average price of $510.69. The firm has a market capitalization of $229.06 billion, a price-to-earnings ratio of 96.47 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS 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. Shareholders of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is currently 28.08%.

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.