Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells $1,739,151.25 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Morris sold 2,675 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $650.15, for a total transaction of $1,739,151.25. Following the transaction, the executive vice president directly owned 20,933 shares of the company’s stock, valued at approximately $13,609,589.95. This trade represents a 11.33% decrease in their position. The sale 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.

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

• On Monday, September 21st, John Morris sold 9,354 shares of Seagate Technology stock. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14.
• On Tuesday, September 15th, John Morris sold 15,466 shares of Seagate Technology stock. The stock was sold at an average price of $772.15, for a total transaction of $11,942,071.90.
• On Monday, September 14th, John Morris sold 493 shares of Seagate Technology stock. The stock was sold at an average price of $781.23, for a total transaction of $385,146.39.
• On Thursday, September 10th, John Morris sold 572 shares of Seagate Technology stock. The shares were sold at an average price of $862.13, for a total transaction of $493,138.36.
• On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The shares were sold at an average price of $849.35, for a total transaction of $2,986,314.60.
• On Thursday, August 20th, John Morris sold 523 shares of Seagate Technology stock. The shares were sold at an average price of $835.54, for a total transaction of $436,987.42.

Seagate Technology Stock Performance

NASDAQ STX traded up $12.62 on Tuesday, hitting $606.38. The stock had a trading volume of 4,726,788 shares, compared to its average volume of 4,481,508. Seagate Technology Holdings PLC has a one year low of $228.61 and a one year high of $1,145.00. The company has a quick ratio of 1.17, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. The stock has a market cap of $137.88 billion, a price-to-earnings ratio of 31.85 and a beta of 2.06. The company’s 50-day moving average is $793.96 and its two-hundred day moving average is $689.79.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The business’s revenue was up 61.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.61 earnings per share. On average, analysts expect that Seagate Technology Holdings PLC will post 37.44 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio is 15.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on STX shares. Evercore reissued an “outperform” rating on shares of Seagate Technology in a research note on Wednesday, October 28th. TD Cowen reduced their price target on shares of Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. Rosenblatt Securities decreased their price objective on shares of Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, October 26th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Citigroup cut their target price on Seagate Technology from $1,300.00 to $1,050.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Twenty-three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,000.88.

More Seagate Technology News

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

• Positive Sentiment: Seagate’s reported $1.2 billion debt paydown, strong free cash flow and higher dividend point to greater capacity for shareholder returns. The article notes that valuation remains a concern. Seagate’s $1.2 Billion Debt Paydown: What Comes Next for Investors?
• Positive Sentiment: Seagate’s fiscal second-quarter outlook points to stronger revenue and earnings, supported by cloud demand, pricing and an accelerating HAMR drive rollout. Execution remains important to delivering that growth. Seagate Q2 Outlook Signals Stronger Growth as HAMR Ramp Accelerates
• Neutral Sentiment: A broader rebound in chip stocks provided a more favorable backdrop for technology shares, though the article does not identify a Seagate-specific catalyst. Micron, Nvidia, and AMD lead chip stocks’ rebound
• Neutral Sentiment: A look at Seagate’s decade-long returns highlights its past outperformance, but leaves open whether AI-driven demand can sustain further gains. Seagate Was Supposed to Lose to SSDs
• Negative Sentiment: Despite stronger operating results, STX has fallen sharply over the past month. Analysts cite its rich valuation and risks around executing on growth as reasons investors may remain cautious. STX Falls as Risks Test AI Storage Momentum

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after acquiring an additional 943,170 shares during the last quarter. Amundi lifted its position in shares of Seagate Technology by 32.2% during the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after acquiring an additional 235,359 shares during the last quarter. National Pension Service lifted its position in shares of Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock valued at $805,490,000 after acquiring an additional 6,944 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Seagate Technology by 67.6% during the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock worth $277,821,000 after acquiring an additional 285,949 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.