Insider Selling: Seagate Technology (NASDAQ:STX) CFO Sells $7,708,700.60 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CFO Gianluca Romano sold 9,076 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $849.35, for a total value of $7,708,700.60. Following the completion of the transaction, the chief financial officer owned 22,997 shares in the company, valued at $19,532,501.95. This represents a 28.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Gianluca Romano also recently made the following trade(s):

• On Friday, August 7th, Gianluca Romano sold 7,240 shares of Seagate Technology stock. The shares were sold at an average price of $781.64, for a total transaction of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 14,091 shares of Seagate Technology stock. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The stock was sold at an average price of $845.12, for a total transaction of $743,705.60.
• On Friday, June 12th, Gianluca Romano sold 903 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57.
• On Wednesday, June 10th, Gianluca Romano sold 1,350 shares of Seagate Technology stock. The shares were sold at an average price of $821.76, for a total transaction of $1,109,376.00.

Seagate Technology Stock Up 3.0%

STX stock opened at $846.37 on Thursday. The firm has a market cap of $191.83 billion, a PE ratio of 60.98 and a beta of 2.06. Seagate Technology Holdings PLC has a 1 year low of $163.86 and a 1 year high of $1,145.00. The company has a fifty day simple moving average of $880.16 and a 200 day simple moving average of $691.76. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The business’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio is currently 21.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STX shares. The Goldman Sachs Group upped their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Citigroup lifted their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Mizuho upped their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Bank of America raised their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in STX. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology during the 4th quarter worth approximately $23,882,000. New York State Teachers Retirement System increased its stake in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares in the last quarter. Praxis Investment Management Inc. increased its stake in Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after purchasing an additional 2,389 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares during the period. Finally, GLOBALT Investments LLC GA boosted its position in shares of Seagate Technology by 820.8% during the fourth quarter. GLOBALT Investments LLC GA now owns 9,760 shares of the data storage provider’s stock worth $2,688,000 after purchasing an additional 8,700 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Analyst commentary highlights Seagate as a potential “unexpected” AI winner. Hyperscaler demand, contracts extending through 2027 and the need for high-capacity storage could support sustained growth as data-center workloads expand. Prediction: Seagate Could Be One of AI’s Most Unexpected Winners
• Positive Sentiment: With Treasury yields falling, Zacks identified STX as a growth stock that could benefit from stronger earnings momentum and structural demand for storage. Seagate’s latest quarter showed revenue growth of 48.5% year over year, while EPS and revenue exceeded consensus estimates. 3 Growth Stocks to Buy as Treasury Yields Fall
• Positive Sentiment: Wall Street’s consensus remains constructive, with a “Moderate Buy” rating and an average price target of $986. Several firms recently raised targets to between $1,150 and $1,300, citing Seagate’s earnings outlook and AI-related demand.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, equivalent to a $2.96 annualized payout and an approximately 0.4% yield. The dividend provides shareholder income but is unlikely to be a major near-term trading catalyst.
• Negative Sentiment: EVP James Ci Lee sold 9,013 shares worth about $7.16 million, reducing his ownership by 96.29%. EVP John Christopher Morris also sold 523 shares and has made several additional sales recently. These transactions may weigh on sentiment, although they were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary signals about management’s outlook. SEC filing for James Ci Lee stock sale
• Negative Sentiment: STX’s high valuation and beta make it sensitive to broader technology-sector weakness and profit-taking. The recent decline from its 52-week high increases the risk that investors will demand continued earnings beats to justify the premium valuation.

Seagate Technology Company Profile

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.