Seagate Technology (NASDAQ:STX) Shares Gap Down – Time to Sell?

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $994.79, but opened at $929.50. Seagate Technology shares last traded at $931.21, with a volume of 573,770 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Mizuho boosted their price target on Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. TD Cowen raised their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Wedbush upped their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Price Performance

The stock has a market cap of $188.70 billion, a P/E ratio of 59.98 and a beta of 2.06. The company’s 50 day moving average price is $895.20 and its 200-day moving average price is $677.30. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.Seagate Technology’s quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given 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 is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Insiders Place Their Bets

In other news, EVP John Christopher Morris sold 168 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $817.76, for a total value of $137,383.68. Following the sale, the executive vice president directly owned 11,920 shares of the company’s stock, valued at approximately $9,747,699.20. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 694 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $877.45, for a total transaction of $608,950.30. Following the sale, the executive vice president owned 347 shares of the company’s stock, valued at approximately $304,475.15. This trade represents a 66.67% 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. Insiders sold a total of 133,650 shares of company stock valued at $116,077,574 over the last three months. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $39,000. Trust Co. of Vermont bought a new position in shares of Seagate Technology during the 2nd quarter worth approximately $54,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the period. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Finally, WealthCollab LLC increased its stake in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.