Seagate Technology (NASDAQ:STX) EVP James Ci Lee Sells 3,939 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP James Ci Lee sold 3,939 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $3,345,589.65. Following the completion of the transaction, the executive vice president owned 1,191 shares of the company’s stock, valued at $1,011,575.85. This trade represents a 76.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

James Ci Lee also recently made the following trade(s):

• On Thursday, July 30th, James Ci Lee sold 694 shares of Seagate Technology stock. The shares were sold at an average price of $877.45, for a total value of $608,950.30.

Seagate Technology Trading Down 6.5%

NASDAQ STX opened at $794.65 on Tuesday. The business’s fifty day moving average is $888.74 and its 200-day moving average is $685.82. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The stock has a market capitalization of $180.11 billion, a price-to-earnings ratio of 57.25 and a beta of 2.06. Seagate Technology Holdings PLC has a one year low of $158.68 and a one year high of $1,145.00.

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

Seagate Technology Announces Dividend

The business also recently announced 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 of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. Loop Capital boosted their target price on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Melius Research started coverage on Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target for the company. Finally, Argus lifted their price objective on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $986.00.

More Seagate Technology News

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

• Positive Sentiment: Several executive transactions, including sales by EVP John Christopher Morris and EVP Ban Seng Teh, were conducted under pre-arranged Rule 10b5-1 trading plans. This may reduce the extent to which the sales are interpreted as discretionary signals about Seagate’s near-term outlook.
• Neutral Sentiment: Seagate’s CEO William D. Mosley sold 18,138 shares for approximately $15.4 million, reducing his direct ownership by 5.73%. He still held 298,483 shares after the transaction. SEC filing for CEO stock sale
• Neutral Sentiment: CFO Gianluca Romano sold 9,076 shares for approximately $7.7 million, cutting his direct holdings by 28.30%, but retained 22,997 shares. SEC filing for CFO stock sale
• Negative Sentiment: Multiple insiders sold shares within two trading days at prices around $836 to $853. The transactions totaled roughly $38.4 million and included substantial reductions in holdings by several executive vice presidents, potentially weighing on sentiment. Seagate Technology slides amid broader tech sector weakness
• Negative Sentiment: The immediate broader-market catalyst was weakness across the technology sector, which pressured Seagate along with other high-beta technology stocks. The company’s elevated valuation and beta may amplify the impact of sector-wide selling.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. lifted its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Seagate Technology in the fourth quarter valued at $28,000. Retirement Wealth Solutions LLC grew its position in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake 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 valued at $31,000 after purchasing an additional 15 shares during the period. Finally, Quarry LP bought a new stake in shares of Seagate Technology during the 4th quarter valued at $31,000. 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.