Seagate Technology (NASDAQ:STX) EVP Sells 9,354 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP John Morris sold 9,354 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14. Following the sale, the executive vice president directly owned 22,693 shares of the company’s stock, valued at $19,922,411.63. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 15th, John Morris sold 15,466 shares of Seagate Technology stock. The shares were 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 value of $436,987.42.
• On Monday, August 3rd, John Morris sold 168 shares of Seagate Technology stock. The stock was sold at an average price of $817.76, for a total value of $137,383.68.

Seagate Technology Trading Up 4.8%

Shares of Seagate Technology stock traded up $42.51 during trading on Tuesday, reaching $919.84. 5,266,265 shares of the company were exchanged, compared to its average volume of 4,356,078. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a twelve month low of $209.00 and a twelve month high of $1,145.00. The business has a 50-day moving average price of $842.44 and a 200-day moving average price of $745.49. The firm has a market capitalization of $209.16 billion, a price-to-earnings ratio of 66.27 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The company’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 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a $0.74 dividend. 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 21.33%.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. NewEdge Advisors LLC raised its holdings in Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after acquiring an additional 10,190 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Seagate Technology during the 1st quarter worth approximately $1,328,000. Financial Insights Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth approximately $706,000. UNICOM Systems Inc. raised its stake in shares of Seagate Technology by 18.2% during the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after purchasing an additional 6,700 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Seagate Technology by 590.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,774 shares of the data storage provider’s stock worth $1,712,000 after purchasing an additional 1,517 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush lifted their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 6th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Morgan Stanley upped their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. One investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.