Seagate Technology (NASDAQ:STX) Trading Down 5.7% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price fell 5.7% on Tuesday . The company traded as low as $396.00 and last traded at $400.8040. 1,210,007 shares changed hands during trading, a decline of 75% from the average session volume of 4,858,392 shares. The stock had previously closed at $425.00.

Analysts Set New Price Targets

A number of research firms have recently commented on STX. Morgan Stanley upped their price objective on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Bank of America upped their price target on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup upped their target price on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research report on Friday. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Sanford C. Bernstein increased their price target on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $444.09.

Seagate Technology Price Performance

The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The business has a fifty day simple moving average of $323.64 and a 200 day simple moving average of $251.37. The stock has a market capitalization of $86.48 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the firm posted $2.03 EPS. Seagate Technology’s quarterly revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the transaction, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 137,976 shares of company stock worth $45,330,378. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of STX. Harbor Asset Planning Inc. purchased a new position in Seagate Technology during the second quarter valued at approximately $27,000. Salomon & Ludwin LLC boosted its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $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 in the fourth quarter worth $28,000. Finally, Avion Wealth raised its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.