Seagate Technology (NASDAQ:STX) Stock Price Down 1% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price fell 1% during mid-day trading on Tuesday . The stock traded as low as $695.14 and last traded at $733.35. 3,629,131 shares changed hands during trading, a decline of 14% from the average session volume of 4,236,080 shares. The stock had previously closed at $740.84.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate stock gained attention after Nvidia’s strong earnings reinforced the theme of heavy AI infrastructure spending, which supports demand for storage and memory products. Seagate Stock, Western Digital Bounce Back After Nvidia Results
• Positive Sentiment: CEO Dave Mosley’s comments that Seagate is prioritizing technology transitions within existing factories, rather than building new capacity, highlighted potential supply tightness and pricing power as AI storage demand rises. Seagate Capacity Shift Raises AI Supply Questions And Valuation Opportunity
• Positive Sentiment: Billionaire investor Stanley Druckenmiller reportedly rotated into Seagate and other AI memory names, adding a sentiment boost for the stock. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
• Neutral Sentiment: Seagate announced exchanges for $185.9 million of exchangeable notes, a balance-sheet event that may reduce debt-related overhang but is not a direct operating catalyst. Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: CEO William D. Mosley sold 30,000 shares in a pre-arranged 10b5-1 transaction, which can weigh on sentiment slightly but does not necessarily signal a change in outlook. SEC Form 4 filing
• Negative Sentiment: Some commentary from market watchers questioned Seagate’s valuation, calling the stock “too pricey,” which could create short-term pressure if investors focus on multiples rather than growth. Jim Cramer on Seagate: “Too Pricey”

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STX. Evercore upped their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Citigroup boosted their target price on Seagate Technology from $595.00 to $740.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Cantor Fitzgerald boosted their target price on Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group boosted their target price on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $733.71.

Seagate Technology Trading Up 7.9%

The company has a 50 day simple moving average of $557.38 and a 200 day simple moving average of $408.64. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $181.73 billion, a PE ratio of 76.89 and a beta of 1.98.

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

Seagate Technology Dividend Announcement

The business also recently disclosed 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 of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 28.08%.

Insider Activity

In other Seagate Technology news, Director Stephanie Tilenius sold 1,580 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares of the company’s stock, valued at $8,175,129.04. This represents a 12.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gianluca Romano sold 1,902 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $770.00, for a total value of $1,464,540.00. Following the sale, the chief financial officer directly owned 40,945 shares of the company’s stock, valued at approximately $31,527,650. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,283 shares of company stock worth $88,528,318 over the last quarter. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently modified their holdings of the business. National Pension Service raised its stake in shares of Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after buying an additional 54,722 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Seagate Technology during the 4th quarter worth approximately $23,882,000. New York State Teachers Retirement System raised its stake in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after buying an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after buying an additional 6,028 shares in the last quarter. Finally, Keystone Investors PTE Ltd. raised its stake in shares of Seagate Technology by 55.7% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after buying an additional 18,000 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.