John Christopher Morris Sells 572 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Morris sold 572 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $862.13, for a total transaction of $493,138.36. Following the completion of the sale, the executive vice president directly owned 15,707 shares of the company’s stock, valued at $13,541,475.91. The trade was a 3.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The shares were 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.
• On Monday, August 3rd, John Morris sold 168 shares of Seagate Technology stock. The shares were sold at an average price of $817.76, for a total value of $137,383.68.

Seagate Technology Stock Down 3.8%

NASDAQ:STX traded down $32.60 during mid-day trading on Friday, hitting $829.73. The company had a trading volume of 3,838,915 shares, compared to its average volume of 4,338,222. The business has a fifty day simple moving average of $848.58 and a 200-day simple moving average of $724.71. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 1 year low of $193.32 and a 1 year high of $1,145.00. The firm has a market capitalization of $188.67 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. The company’s revenue 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. Equities analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Wells Fargo & Company upped their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Argus lifted their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STX. Rakuten Securities Inc. increased its position in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Retirement Wealth Solutions LLC raised its stake in shares of Seagate Technology by 70.6% in the 2nd 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 lifted its position in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the last quarter. Quarry LP bought a new position in shares of Seagate Technology during the fourth quarter worth about $31,000. Finally, WealthCollab LLC grew its stake in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Company Profile

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.