Shankar Arumugavelu Sells 1,000 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Shankar Arumugavelu sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the completion of the transaction, the director owned 6,626 shares in the company, valued at $6,146,807.68. The trade was a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Seagate Technology Trading Down 1.6%

NASDAQ:STX traded down $14.70 on Thursday, hitting $925.99. The stock had a trading volume of 2,521,289 shares, compared to its average volume of 4,126,052. The company has a fifty day moving average price of $642.80 and a two-hundred day moving average price of $446.76. The stock has a market cap of $207.63 billion, a price-to-earnings ratio of 87.85 and a beta of 2.04. Seagate Technology Holdings PLC has a 1-year low of $124.63 and a 1-year high of $966.80. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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 paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is 28.08%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of STX. Integrated Wealth Concepts LLC boosted its holdings in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $262,000. Cerity Partners LLC boosted its holdings in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after buying an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after buying an additional 462 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on STX. BNP Paribas Exane boosted their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Citigroup upped their target price on shares of Seagate Technology from $740.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Tuesday. Rosenblatt Securities upped their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Argus upped their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Mizuho upped their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $772.04.

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.