Seagate Technology (NASDAQ:STX) Trading Down 2.1% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares dropped 2.1% during mid-day trading on Friday . The company traded as low as $825.50 and last traded at $829.76. 2,797,172 shares were traded during mid-day trading, a decline of 36% from the average session volume of 4,395,254 shares. The stock had previously closed at $847.20.

Analyst Ratings Changes

A number of research firms recently commented on STX. China Renaissance boosted their price objective on shares of Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Bank of America lifted their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Argus boosted their price target on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. One 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. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Price Performance

The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $188.07 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06. The company’s 50 day simple moving average is $875.70 and its 200-day simple moving average is $694.71.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend 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 currently 21.33%.

Insider Buying and Selling

In other news, CFO Gianluca Romano sold 14,091 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 21,543 shares in the company, valued at $17,476,758.75. This represents a 39.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 20,657 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $910.48, for a total value of $18,807,785.36. Following the completion of the transaction, the chief executive officer owned 320,860 shares in the company, valued at approximately $292,136,612.80. This trade represents a 6.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 193,765 shares of company stock valued at $166,634,842. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STX. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Seagate Technology during the 4th quarter valued at about $23,882,000. New York State Teachers Retirement System grew its position in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after acquiring an additional 8,991 shares in the last quarter. Praxis Investment Management Inc. raised its stake in shares of Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares during the period. NewEdge Advisors LLC lifted its position in shares of Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares in the last quarter. Finally, GLOBALT Investments LLC GA lifted its position in shares of Seagate Technology by 820.8% during the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after purchasing an additional 8,700 shares in the last quarter. Hedge funds and other 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.