Seagate Technology (NASDAQ:STX) Director Yolanda Lee Conyers Sells 750 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $885.33, for a total transaction of $663,997.50. Following the completion of the transaction, the director owned 4,101 shares of the company’s stock, valued at $3,630,738.33. This trade represents a 15.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Stock Performance

NASDAQ:STX opened at $926.61 on Wednesday. Seagate Technology Holdings PLC has a 1 year low of $118.75 and a 1 year high of $953.72. The firm has a 50 day moving average of $621.76 and a 200-day moving average of $437.45. 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 stock has a market capitalization of $207.77 billion, a P/E ratio of 87.91 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Seagate Technology’s quarterly 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, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 28.08%.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after acquiring an additional 442,749 shares during the last quarter. State Street Corp boosted its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley boosted its stake in Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. WCM Investment Management LLC bought a new position in Seagate Technology in the third quarter valued at approximately $1,187,621,000. Finally, Geode Capital Management LLC boosted its stake in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America raised their price target on shares of Seagate Technology from $840.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $772.04.

Key Stories Impacting Seagate Technology

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 $1,150 from $740 and reiterated a Buy rating, signaling meaningful upside from current levels and likely supporting investor sentiment.
• Positive Sentiment: Seagate also benefited from news that it reached a $175 million settlement over shareholder claims tied to alleged sales to Huawei, which may reduce legal uncertainty that has weighed on the stock. Article Title
• Neutral Sentiment: Recent Q1 earnings coverage suggests investors are still comparing Seagate’s results and outlook with other semiconductor names, but no new operating update was included in the latest items. Article Title
• Negative Sentiment: CEO William D. Mosley sold shares in two separate pre-arranged Rule 10b5-1 transactions, and director Prat Bhatt and director Yolanda Lee Conyers also sold stock. While planned sales are often routine, multiple insider sales can create a mild headwind for sentiment.

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.