Seagate Technology (NASDAQ:STX) Stock Price Down 5.2% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded down 5.2% on Wednesday . The company traded as low as $886.20 and last traded at $915.19. 3,588,511 shares were traded during mid-day trading, a decline of 15% from the average session volume of 4,233,744 shares. The stock had previously closed at $965.00.

Key Seagate Technology News

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

• Positive Sentiment: Seagate was upgraded to Zacks Rank #1 (Strong Buy), reflecting improved optimism around earnings prospects. Article title
• Positive Sentiment: Zacks also highlighted Seagate as an incredible growth stock, citing strong growth characteristics and the potential for outsized returns. Article title
• Positive Sentiment: Analysts noted Seagate’s data center business is still growing, supported by cloud demand, Mozaic adoption, and long-term supply agreements that could keep revenue expanding into fiscal 2027. Article title
• Neutral Sentiment: Seagate CEO William D. Mosley sold shares in two pre-arranged 10b5-1 transactions, which is typically viewed as routine insider activity rather than a sudden shift in fundamentals. Article title
• Neutral Sentiment: The stock has also been caught in a broader semiconductor and memory-stock selloff, as investors reassess whether AI-driven demand can keep supporting recent gains. Article title
• Negative Sentiment: Reports of AI storage oversupply fears and a possible demand slowdown pressured sentiment, with investors worrying that pricing could weaken if supply rises faster than usage. Article title
• Negative Sentiment: Memory and storage peers such as SanDisk, Micron, and Western Digital also sold off, reinforcing the view that the pullback is sector-wide rather than company-specific. Article title

Wall Street Analyst Weigh In

A number of research firms recently commented on STX. Evercore lifted their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Morgan Stanley increased their price objective on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Bank of America raised their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Finally, Argus increased their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Twenty-one analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $880.52.

Seagate Technology Price Performance

The business’s fifty day simple moving average is $848.51 and its 200-day simple moving average is $548.43. 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 firm has a market cap of $183.90 billion, a P/E ratio of 77.81 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period last year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 14.26 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Insider Activity

In other news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer owned 42,860 shares in the company, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 9,343 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the sale, the chief executive officer owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth increased its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. 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.