Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 523 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Christopher Morris sold 523 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $835.54, for a total value of $436,987.42. Following the sale, the executive vice president directly owned 15,460 shares in the company, valued at approximately $12,917,448.40. This trade represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John Christopher Morris also recently made the following trade(s):

• On Friday, August 21st, John Christopher Morris sold 3,516 shares of Seagate Technology stock. The shares were sold at an average price of $849.35, for a total value of $2,986,314.60.
• On Monday, August 3rd, John Christopher Morris sold 168 shares of Seagate Technology stock. The stock was sold at an average price of $817.76, for a total transaction of $137,383.68.
• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16.
• On Wednesday, June 10th, John Christopher Morris sold 574 shares of Seagate Technology stock. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $55.35 during midday trading on Monday, hitting $794.65. The stock had a trading volume of 3,203,008 shares, compared to its average volume of 4,427,493. The company’s 50-day moving average price is $893.23 and its 200-day moving average price is $683.35. Seagate Technology Holdings PLC has a fifty-two week low of $158.68 and a fifty-two week high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $180.11 billion, a P/E ratio of 57.25 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the firm posted $2.59 earnings per share. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC boosted its stake in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $39,000. Trust Co. of Vermont acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $54,000. Triumph Capital Management raised its holdings in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock valued at $58,000 after buying an additional 29 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its position in Seagate Technology by 712.5% during the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock worth $62,000 after buying an additional 57 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on STX. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Mizuho lifted their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. The Goldman Sachs Group boosted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays increased their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Melius Research initiated coverage on shares of Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $986.00.

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.