Seagate Technology (NASDAQ:STX) CEO Sells $2,456,208.37 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 2,849 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $862.13, for a total value of $2,456,208.37. Following the completion of the transaction, the chief executive officer directly owned 296,449 shares in the company, valued at $255,577,576.37. This represents a 0.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Seagate Technology Price Performance

Shares of STX traded down $32.60 during trading hours on Friday, hitting $829.73. 3,838,915 shares of the company were exchanged, compared to its average volume of 4,338,222. 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 company has a market capitalization of $188.67 billion, a PE ratio of 59.78 and a beta of 2.06. The firm has a fifty day simple moving average of $848.58 and a 200-day simple moving average of $724.71. Seagate Technology Holdings PLC has a one year low of $193.32 and a one year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. Seagate Technology’s revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 35.7 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. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Retirement Wealth Solutions LLC lifted 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 worth $28,000 after purchasing an additional 12 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Seagate Technology during the second quarter valued at approximately $39,000. Trust Co. of Vermont acquired a new position in Seagate Technology in the 2nd quarter valued at approximately $54,000. Triumph Capital Management increased its stake in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock valued at $58,000 after buying an additional 29 shares during the period. Finally, Cornerstone Financial Management LLC lifted its position in Seagate Technology by 109.7% in the 2nd quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several recent analyst reports. Mizuho raised their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Citigroup upped their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. China Renaissance raised their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Loop Capital lifted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Fox Advisors downgraded shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.00.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.