Seagate Technology (NASDAQ:STX) Shares Gap Down – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX) gapped down prior to trading on Friday . The stock had previously closed at $890.09, but opened at $861.63. Seagate Technology shares last traded at $912.4390, with a volume of 264,322 shares traded.

Seagate Technology News Summary

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

• Positive Sentiment: Wells Fargo upgraded Seagate Technology from equal weight to overweight and raised its price target to $1,100 from $900, signaling meaningful upside from recent levels. Benzinga article
• Positive Sentiment: Additional analyst coverage and price-target updates from firms including Susquehanna and Melius Research are reinforcing the view that Seagate can benefit from tighter HDD supply and stronger pricing power. Susquehanna price target article
• Positive Sentiment: Investor enthusiasm remains tied to AI data center demand, which is lifting storage stocks broadly as hyperscalers and memory customers continue to build out infrastructure. AI data center demand article
• Positive Sentiment: Recent reports note that Seagate’s HAMR technology and role in high-capacity hard drives are central to the bullish thesis, with some commentary suggesting the stock still has room to run after a huge year-to-date advance. Zacks article
• Neutral Sentiment: Coverage from chart watchers and market analysts is highlighting Seagate as a notable momentum name, but these pieces are more about confirming the existing trend than introducing a new catalyst. Chart of the Day: STX

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Bank of America increased their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Loop Capital boosted their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Twenty-two 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $894.92.

Seagate Technology Price Performance

The firm has a market cap of $203.28 billion, a PE ratio of 85.91 and a beta of 2.04. The firm has a fifty day simple moving average of $875.26 and a two-hundred day simple moving average of $568.33. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This represents a 34.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,069 shares of company stock worth $126,191,753 over the last three months. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salvus Wealth Management LLC increased its position in shares of Seagate Technology by 5.9% during the 2nd quarter. Salvus Wealth Management LLC now owns 3,615 shares of the data storage provider’s stock valued at $3,488,000 after purchasing an additional 201 shares during the last quarter. Spinnaker Investment Group LLC purchased a new position in Seagate Technology during the second quarter worth $212,000. Carolina Wealth Advisors LLC increased its position in Seagate Technology by 40.4% during the second quarter. Carolina Wealth Advisors LLC now owns 146 shares of the data storage provider’s stock valued at $141,000 after acquiring an additional 42 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Seagate Technology during the second quarter valued at $783,000. Finally, Revolve Wealth Partners LLC purchased a new stake in shares of Seagate Technology in the second quarter valued at $896,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.