Seagate Technology (NASDAQ:STX) Shares Down 5.7% – Time to Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) was down 5.7% during mid-day trading on Wednesday . The stock traded as low as $788.97 and last traded at $828.30. Approximately 4,702,252 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 4,248,578 shares. The stock had previously closed at $878.31.

Analyst Ratings Changes

Several equities research analysts have recently commented on STX shares. Evercore upped their target price on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. TD Cowen upped their price target on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Wells Fargo & Company raised Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $900.00 to $1,100.00 in a research note on Friday, July 10th. Finally, Melius Research began coverage on Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price on the stock. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The company has a market cap of $167.16 billion, a P/E ratio of 70.73 and a beta of 2.04. The firm has a 50 day moving average price of $886.91 and a 200-day moving average price of $588.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity

In other Seagate Technology 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 completion of the sale, the chief financial officer directly owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock worth $126,191,753 in the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its stake in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Seagate Technology in the 2nd quarter valued at $262,000. Cerity Partners LLC increased its stake in shares of Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. lifted its position in Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after buying an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Seagate Technology

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.