Rep. Kevin Hern Sells Off Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

Key Points

• Rep. Kevin Hern sold Seagate Technology shares worth between $1,001 and $15,000 from his traditional IRA on September 15, alongside sales of several other stocks.
• Seagate reported strong quarterly results, with EPS of $5.71 beating estimates of $5.10 and revenue rising 48.5% year over year to $3.63 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $986.
• Seagate shares have rallied sharply, but the stock carries elevated risk with a beta above 2 and a high valuation; company insiders have also sold substantial shares recently, including transactions by the CFO and an executive vice president.

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Seagate Technology Holdings PLC NASDAQ: STX. In a filing disclosed on September 25th, the Representative disclosed that they had sold between $1,001 and $15,000 in Seagate Technology stock on September 15th. The trade occurred in the Representative's "KEVIN HERN TRADITIONAL IRA" account.

Representative Kevin Hern also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of CenterPoint Energy NYSE: CNP on 9/15/2026.
• Sold $1,001 - $15,000 in shares of TJX Companies NYSE: TJX on 9/15/2026.
• Sold $15,001 - $50,000 in shares of STERIS NYSE: STE on 9/15/2026.
• Sold $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 9/14/2026.
• Sold $1,001 - $15,000 in shares of Marsh & McLennan Companies NYSE: MRSH on 9/14/2026.
• Sold $15,001 - $50,000 in shares of IQVIA NYSE: IQV on 9/14/2026.
• Sold $15,001 - $50,000 in shares of Home Depot NYSE: HD on 9/14/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 9/14/2026.
• Sold $15,001 - $50,000 in shares of Emerson Electric NYSE: EMR on 9/14/2026.
• Sold $15,001 - $50,000 in shares of Devon Energy NYSE: DVN on 9/14/2026.

Seagate Technology Trading Up 0.5%

Shares of Seagate Technology stock opened at $921.51 on Tuesday. 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 Holdings PLC has a fifty-two week low of $209.00 and a fifty-two week high of $1,145.00. The firm has a 50-day simple moving average of $853.36 and a two-hundred day simple moving average of $764.74. The company has a market cap of $209.54 billion, a P/E ratio of 66.39 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm 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%. The company's revenue for the quarter 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. As a group, equities analysts predict that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio is 21.33%.

Analyst Ratings Changes

A number of equities analysts recently commented on STX shares. Fox Advisors cut Seagate Technology from an "overweight" rating to an "equal weight" rating in a report on Monday, June 22nd. Bank of America boosted their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. raised their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Rosenblatt Securities lifted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Finally, Argus increased their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $986.00.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of STX. Wellington Management Group LLP raised its holdings in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock worth $2,329,641,000 after buying an additional 2,326,538 shares in the last quarter. Geode Capital Management LLC grew its position in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after acquiring an additional 243,551 shares in the last quarter. National Pension Service lifted its holdings in shares of Seagate Technology by 0.8% in the second quarter. National Pension Service now owns 834,705 shares of the data storage provider's stock worth $805,490,000 after acquiring an additional 6,944 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Seagate Technology in the fourth quarter worth about $498,363,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate’s transition to higher-capacity HAMR drives and its Mozaic platform are supporting increased areal density, potentially lowering storage costs and strengthening its position with cloud customers. Robust cloud demand, disciplined pricing and long-term agreements provide additional earnings visibility. Seagate: The Areal Density Breakthrough
• Positive Sentiment: The company’s latest quarterly results exceeded expectations, with non-GAAP EPS of $5.71 versus consensus of $5.10, revenue of approximately $3.63 billion and year-over-year revenue growth near 49%. Gross margin also rose sharply to 52.7%, while management provided strong forward EPS guidance. Seagate Technology Holdings Rides AI Storage Demand
• Positive Sentiment: A reported “Power Inflow” alert indicated strong buying pressure from institutional and retail order flow, helping reinforce the bullish trading momentum around Seagate shares. Seagate Shares Rise After Key Trading Signal
• Neutral Sentiment: Seagate is included among memory and storage stocks benefiting from AI infrastructure spending. However, the broader sector’s performance will remain sensitive to enterprise demand, supply conditions and technology shifts. Memory Semiconductor Stocks to Watch
• Negative Sentiment: Despite bullish analyst views, Seagate’s valuation and risk profile are stretched after the major rally. Its beta above 2 and widely varying long-term EPS estimates point to substantial downside volatility if AI demand, pricing power or margin gains weaken. Is Seagate Stock a Buy, Hold, or Sell Above $900?
• Negative Sentiment: Reported insider selling is a potential overhang, although the transactions may reflect taxes, executive changes or portfolio diversification rather than declining confidence in the business. Stocks Under the Microscope After Large Insider Sales

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 49,984 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares of the company's stock, valued at $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares of the company's stock, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 466,959 shares of company stock valued at $378,615,011. Company insiders own 0.51% of the company's stock.

About Representative Hern

Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma's 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2027. Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma's 1st Congressional District. He declared candidacy for the 2026 election. Kevin Hern went into business as a McDonald's franchisee in 1999. He acquired 10 McDonald's franchises by 2012. He served on the McDonald's National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.