Seagate Technology (NASDAQ:STX) Shares Down 5.5% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) was down 5.5% on Monday . The company traded as low as $840.01 and last traded at $860.66. Approximately 4,128,046 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 4,245,331 shares. The stock had previously closed at $910.34.

Key Seagate Technology News

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology Holdings PLC (STX) to $1,240 from $1,150 and maintained a Buy rating, suggesting continued upside potential. Benzinga
• Positive Sentiment: Wells Fargo upgraded Seagate Technology Holdings PLC (STX) to Overweight, citing strong demand for high-capacity storage products tied to cloud and AI infrastructure spending. Yahoo Finance
• Positive Sentiment: Analysts continue to point to Seagate’s AI storage opportunity, with cloud demand and expanding high-capacity HDD adoption supporting a stronger growth outlook. Donanimhaber
• Positive Sentiment: Bank of America recently reiterated a Buy rating and lifted its target to $1,150, reinforcing the view that Seagate’s fundamentals are improving alongside AI-related storage demand. Yahoo Finance

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Rosenblatt Securities increased their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Evercore boosted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Loop Capital upped their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $898.52.

Seagate Technology Stock Down 5.5%

The firm has a market capitalization of $192.84 billion, a price-to-earnings ratio of 81.59 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a fifty day moving average price of $880.60 and a 200 day moving average price of $572.75.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share 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 firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the firm posted $1.90 EPS. The business’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date was 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 (DPR) is 28.08%.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This trade represents a 32.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bridgewater Advisors Inc. increased its stake in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after buying an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares during the period. Beaumont Financial Advisors LLC boosted its holdings in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after acquiring an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC boosted 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 valued at $1,388,000 after acquiring an additional 19 shares during the last quarter. Finally, WealthCollab LLC increased its position 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 purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.