Gianluca Romano Sells 14,091 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CFO Gianluca Romano sold 14,091 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the sale, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at approximately $17,476,758.75. This trade represents a 39.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gianluca Romano also recently made the following trade(s):

• On Friday, August 7th, Gianluca Romano sold 7,240 shares of Seagate Technology stock. The shares were sold at an average price of $781.64, for a total transaction of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The stock was sold at an average price of $845.12, for a total transaction of $743,705.60.
• On Friday, June 12th, Gianluca Romano sold 903 shares of Seagate Technology stock. The shares were sold at an average price of $880.19, for a total value of $794,811.57.
• On Wednesday, June 10th, Gianluca Romano sold 1,350 shares of Seagate Technology stock. The stock was sold at an average price of $821.76, for a total value of $1,109,376.00.

Seagate Technology Trading Up 2.4%

Shares of Seagate Technology stock traded up $19.53 during trading on Tuesday, reaching $820.52. 3,146,828 shares of the company were exchanged, compared to its average volume of 4,434,371. 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 twelve month low of $152.05 and a twelve month high of $1,145.00. The business has a 50-day moving average price of $892.31 and a 200-day moving average price of $651.47. The firm has a market capitalization of $185.97 billion, a price-to-earnings ratio of 59.12 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business 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 company posted $2.59 earnings per share. The firm’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STX. Susquehanna boosted their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. UBS Group lifted their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Loop Capital boosted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. TD Cowen upped their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, BNP Paribas Exane lifted their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at about $2,594,000. Abacus FCF Advisors LLC acquired a new position in shares of Seagate Technology during the second quarter worth about $8,786,000. Madison Asset Management LLC bought a new position in shares of Seagate Technology during the second quarter worth about $386,000. Great Lakes Advisors LLC bought a new position in shares of Seagate Technology during the second quarter worth about $839,000. Finally, Foster & Motley Inc. acquired a new position in Seagate Technology during the 2nd quarter worth approximately $772,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.