Seagate Technology (NASDAQ:STX) Stock Price Down 12.2% – Should You Sell?

Seagate Technology Holdings PLC (NASDAQ:STX) dropped 12.2% during trading on Friday . The stock traded as low as $880.49 and last traded at $899.90. Approximately 9,260,402 shares were traded during mid-day trading, an increase of 119% from the average daily volume of 4,229,262 shares. The stock had previously closed at $1,025.36.

Key Seagate Technology News

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

• Positive Sentiment: Micron’s strong quarterly results and upbeat AI demand commentary lifted sentiment across memory and storage names, including Seagate, by reinforcing expectations for a memory/storage upcycle. Micron Leads Tech Stocks Rally on Blowout Earnings
• Positive Sentiment: Analyst and media coverage continues to frame Seagate as a key AI infrastructure winner, citing stronger data-center demand, pricing power, and solid recent revenue and margin performance. Is Seagate (STX) Turning AI-Fueled Pricing Power Into a More Durable Earnings Model?
• Positive Sentiment: Another bullish read-through from Micron’s results put Seagate, Western Digital, and Sandisk in focus as investors looked for beneficiaries of rising AI memory demand. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Broader market commentary noted that tech stocks were volatile and some AI winners gave back gains, which may have tempered enthusiasm for Seagate despite the positive sector backdrop. Micron, Sandisk, Apple, ON Semiconductor, and More Stocks That Explain Today’s Market
• Negative Sentiment: One report specifically said Seagate was hit hard by a leverage-driven selloff in the chip space and renewed doubts about debt-funded AI capex, showing that valuation and leverage concerns remain a risk. Why Seagate (STX) Shares Are Getting Obliterated Today

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STX shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday. Citigroup boosted their price objective on shares of Seagate Technology from $740.00 to $1,150.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price target on shares of Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $831.79.

Seagate Technology Trading Down 12.2%

The firm has a market cap of $201.78 billion, a P/E ratio of 85.38 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a 50 day moving average of $811.11 and a 200 day moving average of $526.55.

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

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 1,768 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the transaction, the chief executive officer directly owned 327,517 shares in the company, valued at $288,277,188.23. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total transaction of $927,680.00. Following the transaction, the director directly owned 6,626 shares in the company, valued at $6,146,807.68. This trade represents a 13.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 141,069 shares of company stock valued at $107,161,712 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology during the 4th quarter worth approximately $23,882,000. New York State Teachers Retirement System lifted its position in Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after purchasing an additional 6,028 shares during the period. Praxis Investment Management Inc. grew its holdings in shares of Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Keystone Investors PTE Ltd. grew its holdings in shares of Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after purchasing an additional 18,000 shares during the last quarter. 92.87% of the stock is 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.