Seagate Technology (NASDAQ:STX) Stock Price Down 1.9% – Should You Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) fell 1.9% during mid-day trading on Thursday. The company traded as low as $898.80 and last traded at $905.92. 3,059,817 shares traded hands during trading, a decline of 30% from the average session volume of 4,341,840 shares. The stock had previously closed at $923.86.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STX shares. Citigroup lifted their price objective on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. TD Cowen raised their target price on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Barclays lifted their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, Melius Research assumed coverage on Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Up 1.2%

The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $208.48 billion, a price-to-earnings ratio of 66.05 and a beta of 2.06. The company has a fifty day moving average of $850.97 and a 200-day moving average of $758.26.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP John Morris sold 15,466 shares of Seagate Technology stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the sale, the executive vice president owned 31,132 shares of the company’s stock, valued at $24,038,573.80. The trade was a 33.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer directly owned 70,756 shares of the company’s stock, valued at $54,634,952.96. The trade was a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 466,959 shares of company stock worth $378,615,011. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. boosted its position in shares of Seagate Technology by 15.5% during the 2nd quarter. QRG Capital Management Inc. now owns 21,081 shares of the data storage provider’s stock valued at $20,343,000 after acquiring an additional 2,826 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Seagate Technology by 163.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,940 shares of the data storage provider’s stock valued at $3,802,000 after purchasing an additional 2,444 shares during the last quarter. Silicon Valley Capital Partners grew its stake in shares of Seagate Technology by 1,988.5% in the 2nd quarter. Silicon Valley Capital Partners now owns 543 shares of the data storage provider’s stock valued at $524,000 after buying an additional 517 shares during the period. Altar Rock LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $260,000. Finally, Wellington Altus USA Inc. raised its position in shares of Seagate Technology by 137.3% during the 2nd quarter. Wellington Altus USA Inc. now owns 140 shares of the data storage provider’s stock valued at $135,000 after buying an additional 81 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.