Seagate Technology (NASDAQ:STX) Director Yolanda Lee Conyers Sells 750 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $815.11, for a total transaction of $611,332.50. Following the completion of the transaction, the director owned 3,351 shares in the company, valued at $2,731,433.61. The trade was a 18.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

STX opened at $798.61 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 52-week low of $175.82 and a 52-week high of $1,145.00. The company has a 50 day moving average of $852.94 and a two-hundred day moving average of $708.76. The company has a market cap of $181.00 billion, a P/E ratio of 57.54 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 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

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 issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Praxis Investment Management Inc. grew its holdings in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after buying an additional 2,389 shares in the last quarter. NewEdge Advisors LLC raised its stake in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after acquiring an additional 10,190 shares in the last quarter. GLOBALT Investments LLC GA raised its stake in Seagate Technology by 820.8% during the 4th quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock valued at $2,688,000 after acquiring an additional 8,700 shares in the last quarter. ASR Vermogensbeheer N.V. boosted its position in Seagate Technology by 21.0% during the 4th quarter. ASR Vermogensbeheer N.V. now owns 23,471 shares of the data storage provider’s stock worth $6,463,000 after acquiring an additional 4,070 shares during the period. Finally, Tredje AP fonden boosted its position in Seagate Technology by 446.6% during the 4th quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after acquiring an additional 90,968 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STX has been the topic of a number of recent research reports. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. China Renaissance raised their target price on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Bank of America boosted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company upped their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $986.00.

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.