Seagate Technology (NASDAQ:STX) Shares Down 1.9% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares dropped 1.9% during trading on Thursday. The company traded as low as $898.80 and last traded at $905.92. Approximately 3,059,817 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 4,341,840 shares. The stock had previously closed at $923.86.

Wall Street Analyst Weigh In

STX has been the topic of a number of research analyst reports. Argus lifted their price target on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wedbush boosted their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a research report on Wednesday, July 29th. Wall Street Zen downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a 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 assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The stock’s 50-day simple moving average is $845.18 and its two-hundred day simple moving average is $753.25. The stock has a market cap of $206.00 billion, a price-to-earnings ratio of 65.27 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Insiders Place Their Bets

In other news, EVP John Morris sold 15,466 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the sale, the executive vice president directly owned 31,132 shares of the company’s stock, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William D. Mosley sold 97,889 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer owned 378,108 shares in the company, valued at approximately $291,952,311.12. The trade was a 20.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 466,959 shares of company stock valued at $378,615,011 in the last three months. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Retirement Wealth Solutions LLC boosted its position in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares during the period. WealthCollab LLC boosted its stake in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Seagate Technology in the 4th quarter worth about $37,000. Finally, McMillan Office Inc. acquired a new stake in shares of Seagate Technology during the 1st quarter worth about $39,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.