Seagate Technology (NASDAQ:STX) Shares Down 4.7% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares dropped 4.7% during trading on Tuesday . The company traded as low as $786.01 and last traded at $827.64. Approximately 4,131,141 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 4,240,286 shares. The stock had previously closed at $868.26.

Key Seagate Technology News

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

• Positive Sentiment: Seagate and other storage names are rebounding after a sector selloff, helped by strong peer earnings and signs of continued AI data-center demand. Seagate (STX) Stock Rebounds As AI Data Center Demand Lifts Storage Names
• Positive Sentiment: Analyst views are turning more constructive, with a higher fair-value estimate tied to tight HDD supply, AI storage demand, and the possibility of stronger pricing power. Seagate (STX) Stock Fair Value Rises After AI Storage Driven Analyst Target Increases
• Positive Sentiment: STX continues to screen as a momentum winner, with multiple market pieces pointing to its huge one-year gain, earnings beats, and growth expectations as support for further upside. AI Storage Tailwinds Lift STX Shares 506% in a Year: More Upside Left?
• Neutral Sentiment: Susquehanna raised its price target on Seagate but kept a neutral rating, signaling higher valuation expectations without a clearly bullish stance. Seagate Technology had its price target raised by Susquehanna
• Neutral Sentiment: Coverage starts and broad “top momentum stock” mentions add attention to STX, but they are not new fundamental catalysts on their own. Melius Research Starts Coverage of Seagate Technology Holdings plc (STX)

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STX shares. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. TD Cowen increased their price objective on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald raised their price objective on Seagate Technology from $1,000.00 to $1,300.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Argus boosted their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $886.92.

Seagate Technology Stock Up 3.4%

The stock has a market cap of $199.48 billion, a P/E ratio of 84.66 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The company has a 50-day simple moving average of $869.04 and a two-hundred day simple moving average of $564.15.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business earned $1.90 earnings per share. The business’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a $0.74 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC increased its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. lifted 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 period. Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth increased its position in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology during the fourth quarter valued at about $28,000. 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.