Seagate Technology (NASDAQ:STX) Stock Sale Revealed by Rep. Kevin Hern

Key Points

• Rep. Kevin Hern sold $15,001–$50,000 of Seagate Technology shares from his traditional IRA on October 23, alongside sales of several other stocks.
• Seagate reported strong quarterly results, with revenue up 61% year over year to $4.23 billion and EPS of $7.68, beating analysts’ expectations. Demand from data-center and AI infrastructure customers remains robust, though elevated valuation and slower shipment growth have prompted some price-target cuts.
• The company raised its quarterly dividend 2.7% to $0.76 per share. Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,000.88.

Representative Kevin Hern (Republican-Oklahoma) recently sold shares of Seagate Technology Holdings PLC NASDAQ: STX. In a filing disclosed on October 28th, the Representative disclosed that they had sold between $15,001 and $50,000 in Seagate Technology stock on October 23rd. 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 ASML NASDAQ: ASML on 10/23/2026.
• Sold $15,001 - $50,000 in shares of Texas Instruments NASDAQ: TXN on 10/14/2026.
• Sold $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 10/2/2026.
• Sold $15,001 - $50,000 in shares of Lockheed Martin NYSE: LMT on 9/23/2026.
• Sold $50,001 - $100,000 in shares of Devon Energy NYSE: DVN on 9/23/2026.
• Sold $15,001 - $50,000 in shares of Devon Energy NYSE: DVN on 9/23/2026.
• Sold $15,001 - $50,000 in shares of Starbucks NASDAQ: SBUX on 9/23/2026.
• Sold $50,001 - $100,000 in shares of Marsh & McLennan Companies NYSE: MRSH on 9/23/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 9/23/2026.
• Sold $15,001 - $50,000 in shares of UnitedHealth Group NYSE: UNH on 9/23/2026.

Seagate Technology Trading Up 0.4%

NASDAQ STX opened at $700.47 on Friday. Seagate Technology Holdings PLC has a one year low of $228.61 and a one year high of $1,145.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.82. The company has a market capitalization of $159.28 billion, a price-to-earnings ratio of 36.79 and a beta of 2.06. The company's 50-day simple moving average is $803.20 and its two-hundred day simple moving average is $686.80.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the prior year, the company earned $2.61 EPS. The company's revenue was up 61.0% compared to the same quarter last year. Equities analysts forecast that Seagate Technology Holdings PLC will post 35.79 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This is a positive change from Seagate Technology's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 dividend on an annualized basis and a yield of 0.4%. Seagate Technology's payout ratio is 15.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. UBS Group dropped their target price on Seagate Technology from $780.00 to $750.00 and set a "neutral" rating on the stock in a research report on Wednesday. Citigroup cut their price target on Seagate Technology from $1,300.00 to $1,050.00 and set a "buy" rating on the stock in a report on Wednesday. Evercore reissued an "outperform" rating on shares of Seagate Technology in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Seagate Technology from $865.00 to $820.00 and set an "overweight" rating for the company in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,000.88.

More Seagate Technology News

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

• Positive Sentiment: Results exceeded expectations: Fiscal Q1 revenue rose 61% year over year to $4.23 billion, while EPS of $7.68 topped the $7.45 consensus estimate. Data-center revenue increased 63%, and record free cash flow strengthened the earnings quality. STX Q1 Earnings and Revenues Beat
• Positive Sentiment: AI infrastructure demand remains robust: Cloud and other data-center customers represented about 90% of shipped capacity. Nearline supply is largely committed through 2028 or 2030, while HAMR technology, favorable pricing and double-digit sequential growth are expected to support fiscal Q2 revenue of approximately $4.8 billion and non-GAAP EPS of $9.20. Seagate Technology Key Takeaways
• Positive Sentiment: Analysts remain constructive: Wells Fargo maintained an overweight rating, while TD Cowen, Citigroup and other firms kept buy or overweight recommendations despite reducing price targets. Commentary comparing Seagate with Western Digital also favors STX because of its higher return on equity, lower forward P/E and record cash generation. Western Digital versus Seagate
• Positive Sentiment: Shareholder returns improved: Seagate raised its quarterly dividend 2.7% to $0.76 per share and indicated that strong cash generation could support additional share repurchases. Seagate Dividend Increase
• Neutral Sentiment: Valuation and expectations are elevated: The earnings beat and AI outlook were largely anticipated, increasing the risk that further gains require continued execution and stronger-than-expected demand.
• Negative Sentiment: Growth concerns triggered selling: Investors focused on slower exabyte shipment growth and the possibility of margin deceleration, causing the stock to decline despite record results and upbeat guidance. Why Seagate Stock Is Falling
• Negative Sentiment: Price-target reductions reflect caution: Susquehanna cut its target to $765 and moved to neutral, while several other firms lowered targets even while retaining positive ratings. Summit Insights separately downgraded STX to hold.

Insider Activity at Seagate Technology

In other news, EVP John Morris sold 9,354 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14. Following the transaction, the executive vice president directly owned 22,693 shares of the company's stock, valued at approximately $19,922,411.63. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the firm's stock in a transaction dated 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 approximately $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 466,812 shares of company stock worth $378,583,042 in the last quarter. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STX. NewEdge Advisors LLC lifted its stake in shares of Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider's stock worth $8,637,000 after buying an additional 10,190 shares during the period. UNICOM Systems Inc. increased its position in shares of Seagate Technology by 18.2% in the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider's stock valued at $41,978,000 after acquiring an additional 6,700 shares during the period. USA Financial Formulas purchased a new position in Seagate Technology in the 1st quarter worth $1,328,000. Financial Insights Inc. purchased a new position in Seagate Technology in the 2nd quarter worth $706,000. Finally, Silverleafe Capital Partners LLC purchased a new position in Seagate Technology in the 3rd quarter worth $820,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.

Seagate Technology Company Profile

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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