James Ci Lee Sells 3,939 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP James Ci Lee sold 3,939 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $3,345,589.65. Following the completion of the transaction, the executive vice president directly owned 1,191 shares of the company’s stock, valued at approximately $1,011,575.85. This represents a 76.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

James Ci Lee also recently made the following trade(s):

• On Thursday, July 30th, James Ci Lee sold 694 shares of Seagate Technology stock. The stock was sold at an average price of $877.45, for a total transaction of $608,950.30.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $55.35 during midday trading on Monday, hitting $794.65. The company’s stock had a trading volume of 3,203,008 shares, compared to its average volume of 4,427,493. The company has a market cap of $180.11 billion, a P/E ratio of 57.25 and a beta of 2.06. Seagate Technology Holdings PLC has a 12-month low of $158.68 and a 12-month high of $1,145.00. The business’s 50 day simple moving average is $893.23 and its 200 day simple moving average is $683.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s quarterly revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is presently 21.33%.

Institutional Trading of Seagate Technology

Several institutional investors have recently added to or reduced their stakes in STX. California State Teachers Retirement System lifted its stake in Seagate Technology by 102,975.8% during the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock worth $305,658,775,000 after purchasing an additional 316,437,552 shares in the last quarter. Greenland Capital Management LP acquired a new stake in shares of Seagate Technology in the second quarter valued at $1,307,000. Washington Trust Advisors Inc. raised its holdings in shares of Seagate Technology by 712.5% in the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock valued at $62,000 after buying an additional 57 shares during the period. Ameritas Advisory Services LLC raised its holdings in shares of Seagate Technology by 254.1% in the 2nd quarter. Ameritas Advisory Services LLC now owns 8,561 shares of the data storage provider’s stock valued at $8,262,000 after buying an additional 6,143 shares during the period. Finally, Guardian Wealth Advisors LLC NC acquired a new position in Seagate Technology during the 2nd quarter worth about $240,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Argus upped their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company increased their price target on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

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.