Seagate Technology (NASDAQ:STX) EVP Sells $6,147,241.65 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 7,557 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $813.45, for a total value of $6,147,241.65. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at $3,002,443.95. The trade was a 67.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84.

Seagate Technology Price Performance

STX stock opened at $795.47 on Friday. The company has a market capitalization of $178.37 billion, a P/E ratio of 75.47 and a beta of 1.98. Seagate Technology Holdings PLC has a twelve month low of $103.73 and a twelve month high of $841.31. The business has a 50 day simple moving average of $526.24 and a 200-day simple moving average of $393.24. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate 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 was up 44.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current 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 dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Argus increased their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company increased their price target on Seagate Technology from $450.00 to $700.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group increased their price target on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $733.71.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of STX. WCM Investment Management LLC purchased a new position in Seagate Technology in the third quarter worth $1,187,621,000. Arrowstreet Capital Limited Partnership raised its position in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after acquiring an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in Seagate Technology in the fourth quarter worth $498,363,000. Finally, Soroban Capital Partners LP raised its position in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.