Seagate Technology (NASDAQ:STX) Shares Down 6.9% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) traded down 6.9% during mid-day trading on Monday . The company traded as low as $710.11 and last traded at $740.84. 4,928,978 shares changed hands during trading, an increase of 16% from the average session volume of 4,248,063 shares. The stock had previously closed at $795.47.

Seagate Technology News Roundup

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

• Positive Sentiment: Evercore ISI raised its price target on Seagate Technology (STX), signaling continued analyst confidence in the company’s earnings and growth outlook.
• Positive Sentiment: Analysts and recent commentary continue to highlight Seagate’s AI storage opportunity, with strong demand for mass-capacity drives and Mozaic HAMR adoption supporting revenue and margin expansion.
• Neutral Sentiment: Seagate presented at the J.P. Morgan 54th Annual Global Technology, Media and Communications Conference, keeping investor attention on management’s outlook and strategy. Article Title
• Neutral Sentiment: Brokerage coverage remains generally constructive, with Seagate carrying an average “Moderate Buy” rating from analysts.
• Negative Sentiment: Seagate’s CEO said it would take too long to build new factories, raising concern that supply may lag demand and pressuring the stock alongside peers such as Micron, SanDisk, and Western Digital. Article Title
• Negative Sentiment: Related headlines noted Seagate’s shares fell after management discussed long lead times and expansion constraints, reinforcing worries about near-term supply growth. Article Title

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group lifted their price target on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Morgan Stanley upped their price objective on Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $733.71.

Seagate Technology Trading Down 6.9%

The company has a 50 day moving average of $526.24 and a two-hundred day moving average of $394.39. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market capitalization of $166.12 billion, a PE ratio of 70.29 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the transaction, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% 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. In the last ninety days, insiders sold 118,283 shares of company stock valued at $65,989,618. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently bought and sold shares of STX. FACT Capital LP acquired a new position in Seagate Technology in the 1st quarter worth approximately $1,707,000. IMG Wealth Management Inc. lifted its stake in Seagate Technology by 50.0% during the 1st quarter. IMG Wealth Management Inc. now owns 102 shares of the data storage provider’s stock valued at $40,000 after acquiring an additional 34 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Seagate Technology by 3.3% in the 1st quarter. Lazard Asset Management LLC now owns 29,304 shares of the data storage provider’s stock valued at $11,480,000 after acquiring an additional 945 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Seagate Technology in the first quarter worth $897,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Seagate Technology in the first quarter worth $243,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.