Seagate Technology (NASDAQ:STX) Stock: Insider John Christopher Morris Sells 2,675 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Morris sold 2,675 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $650.15, for a total transaction of $1,739,151.25. Following the completion of the sale, the executive vice president directly owned 20,933 shares of the company’s stock, valued at $13,609,589.95. This represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Christopher Morris also recently made the following trade(s):

• On Monday, September 21st, John Morris sold 9,354 shares of Seagate Technology stock. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14.
• On Tuesday, September 15th, John Morris sold 15,466 shares of Seagate Technology stock. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90.
• On Monday, September 14th, John Morris sold 493 shares of Seagate Technology stock. The shares were sold at an average price of $781.23, for a total transaction of $385,146.39.
• On Thursday, September 10th, John Morris sold 572 shares of Seagate Technology stock. The shares were sold at an average price of $862.13, for a total transaction of $493,138.36.
• On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The stock was sold at an average price of $849.35, for a total transaction of $2,986,314.60.
• On Thursday, August 20th, John Morris sold 523 shares of Seagate Technology stock. The stock was sold at an average price of $835.54, for a total transaction of $436,987.42.

Seagate Technology Trading Down 8.1%

Seagate Technology stock opened at $557.06 on Thursday. Seagate Technology Holdings PLC has a one year low of $228.61 and a one year high of $1,145.00. The company’s fifty day moving average price is $784.91 and its two-hundred day moving average price is $692.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25. The company has a market capitalization of $127.88 billion, a price-to-earnings ratio of 29.26 and a beta of 2.16.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping analysts’ consensus estimates of $7.44 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The business’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 earnings per share. On average, analysts forecast that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is 15.97%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after acquiring an additional 2,326,538 shares during the period. Janus Henderson Group PLC boosted its position in shares of Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Swedbank AB increased its stake in Seagate Technology by 67.6% in the first quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after acquiring an additional 285,949 shares during the period. Amundi increased its stake in Seagate Technology by 32.2% in the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Seagate Technology by 119.7% in the first quarter. Hsbc Holdings PLC now owns 378,527 shares of the data storage provider’s stock valued at $147,753,000 after acquiring an additional 206,196 shares during the period. 92.87% of the stock is owned by institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported a strong start to fiscal 2027: revenue rose 61% year over year, supported by AI-related demand, favorable pricing and greater adoption of its HAMR drives. The company also generated record cash flow. Seagate Revenue Soars 61% in Q1
• Positive Sentiment: Commentary suggests the selloff may overstate Seagate’s exposure to memory-price concerns: it has limited flash-memory exposure, and much of its drive supply is allocated under contracts through 2028. Seagate Sinks on Election and Memory-Price Worries
• Positive Sentiment: A reported $1.2 billion debt paydown, strong free cash flow and a higher dividend point to improved financial flexibility and increased shareholder returns. Seagate’s $1.2 Billion Debt Paydown
• Neutral Sentiment: CEO William D. Mosley and EVP John Morris disclosed share sales. The transactions were made under pre-arranged Rule 10b5-1 plans, which makes them less clearly a signal of a change in management’s outlook. Seagate Insider Sale
• Negative Sentiment: Investors broadly sold data-center and storage shares after the midterm elections, while concerns about memory prices weighed on the sector. Valuation worries may also leave STX vulnerable if growth expectations weaken.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STX. Susquehanna decreased their target price on Seagate Technology from $925.00 to $765.00 and set a “neutral” rating for the company in a research report on Wednesday, October 28th. Summit Insights lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, October 28th. Bank of America lifted their price target on shares of Seagate Technology from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Evercore restated an “outperform” rating on shares of Seagate Technology in a research note on Wednesday, October 28th. Finally, TD Cowen decreased their price objective on shares of Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.