Seagate Technology (NASDAQ:STX) Trading Down 12.2% – What’s Next?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) dropped 12.2% on Friday . The company traded as low as $880.49 and last traded at $899.90. Approximately 9,260,402 shares were traded during mid-day trading, an increase of 119% from the average daily volume of 4,229,262 shares. The stock had previously closed at $1,025.36.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Micron’s strong quarterly results and upbeat AI demand commentary lifted sentiment across memory and storage names, including Seagate, by reinforcing expectations for a memory/storage upcycle. Micron Leads Tech Stocks Rally on Blowout Earnings
• Positive Sentiment: Analyst and media coverage continues to frame Seagate as a key AI infrastructure winner, citing stronger data-center demand, pricing power, and solid recent revenue and margin performance. Is Seagate (STX) Turning AI-Fueled Pricing Power Into a More Durable Earnings Model?
• Positive Sentiment: Another bullish read-through from Micron’s results put Seagate, Western Digital, and Sandisk in focus as investors looked for beneficiaries of rising AI memory demand. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Broader market commentary noted that tech stocks were volatile and some AI winners gave back gains, which may have tempered enthusiasm for Seagate despite the positive sector backdrop. Micron, Sandisk, Apple, ON Semiconductor, and More Stocks That Explain Today’s Market
• Negative Sentiment: One report specifically said Seagate was hit hard by a leverage-driven selloff in the chip space and renewed doubts about debt-funded AI capex, showing that valuation and leverage concerns remain a risk. Why Seagate (STX) Shares Are Getting Obliterated Today

Analyst Ratings Changes

A number of research analysts have issued reports on STX shares. Wedbush boosted their target price 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. Cantor Fitzgerald lifted their price target on Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday. Argus increased their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. 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, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $831.79.

Seagate Technology Stock Down 12.2%

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 $201.78 billion, a P/E ratio of 85.38 and a beta of 2.04. The firm’s fifty day moving average price is $818.72 and its 200-day moving average price is $529.16.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company earned $1.90 earnings per share. Seagate Technology’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 forecast that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 1,768 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the transaction, the chief executive officer directly owned 327,517 shares of the company’s stock, valued at approximately $288,277,188.23. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 903 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 141,069 shares of company stock valued at $107,161,712 over the last quarter. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STX. Bridgewater Advisors Inc. raised its stake in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after purchasing an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after buying an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC grew its stake in shares of Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after buying an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC increased its holdings in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 19 shares during the last quarter. Finally, WealthCollab LLC increased its holdings in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during 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.