Ban Seng Teh Sells 663 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 663 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18. Following the completion of the sale, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,525,779.40. This trade represents a 13.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Wednesday, May 13th, Ban Seng Teh sold 7,557 shares of Seagate Technology stock. The stock was sold at an average price of $813.45, for a total transaction of $6,147,241.65.
• On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84.

Seagate Technology Stock Up 7.3%

Shares of NASDAQ:STX opened at $931.04 on Friday. The company has a market capitalization of $208.77 billion, a PE ratio of 88.33 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a twelve month low of $124.63 and a twelve month high of $966.80. The firm has a 50 day simple moving average of $709.54 and a 200-day simple moving average of $475.81.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during 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 company’s revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is currently 28.08%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently modified their holdings of STX. Salomon & Ludwin LLC increased its holdings in shares of 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 acquiring an additional 51 shares during the period. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology in the 4th quarter worth $28,000. Avion Wealth lifted its stake in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology in the 4th quarter worth $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STX shares. Barclays boosted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Wedbush boosted their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. TD Cowen boosted their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $820.63.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate announced it will redeem all outstanding 3.50% Exchangeable Senior Notes due 2028, a move investors view as a balance-sheet strengthening step. Seagate Announces Redemption of Exchangeable Notes
• Positive Sentiment: Analysts remained bullish, with JPMorgan raising its price target to $920 and keeping an Overweight rating, while China Renaissance lifted its target to $983, reinforcing momentum in the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Reports highlighted surging free cash flow and record AI-related demand, suggesting Seagate is benefiting from cloud and data-center storage expansion. Seagate’s Strengthening Free Cash Flow: Can Growth Continue?
• Positive Sentiment: Another update said Seagate has most of its nearline storage capacity allocated through 2027 and raised its long-term annual revenue growth target to at least 20%, pointing to sustained demand from large cloud customers. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Neutral Sentiment: Several Seagate executives sold shares this week, including the CFO and CEO, which may weigh on sentiment a bit, but the sales were relatively small versus their remaining holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

About Seagate Technology

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.