Gianluca Romano Sells 1,348 Shares of Seagate Technology (NASDAQ:STX) Stock

Key Points

• Seagate CFO Gianluca Romano sold 1,348 shares for approximately $1.16 million at an average price of $862.13, reducing his position by 4.45% to 28,930 shares. The sale follows several additional transactions in August.
• Seagate reported quarterly earnings of $5.71 per share, beating estimates by $0.61, while revenue rose 48.5% year over year to $3.63 billion. The stock later traded at $829.73, with a market capitalization of roughly $188.7 billion.
• Analysts maintain a generally positive view, with 22 Buy and one Strong Buy ratings and an average price target of $986. The company also declared a quarterly dividend of $0.74 per share, representing a 0.4% yield.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CFO Gianluca Romano sold 1,348 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $862.13, for a total value of $1,162,151.24. Following the completion of the transaction, the chief financial officer owned 28,930 shares of the company's stock, valued at $24,941,420.90. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Gianluca Romano also recently made the following trade(s):

• On Friday, August 21st, Gianluca Romano sold 9,076 shares of Seagate Technology stock. The stock was sold at an average price of $849.35, for a total transaction of $7,708,700.60.
• On Friday, August 7th, Gianluca Romano sold 7,240 shares of Seagate Technology stock. The shares were sold at an average price of $781.64, for a total transaction of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 14,091 shares of Seagate Technology stock. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The shares were sold at an average price of $845.12, for a total transaction of $743,705.60.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $32.60 during trading on Friday, hitting $829.73. 3,838,915 shares of the stock were exchanged, compared to its average volume of 4,338,222. The company has a market cap of $188.67 billion, a PE ratio of 59.78 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company has a fifty day moving average price of $848.58 and a two-hundred day moving average price of $724.71. Seagate Technology Holdings PLC has a 12-month low of $193.32 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating 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 return on equity of 369.98% and a net margin of 26.11%.Seagate Technology's quarterly revenue was up 48.5% on a year-over-year basis. During the same period last year, the business posted $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 35.7 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is currently 21.33%.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Wealth Solutions LLC boosted its stake in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock worth $28,000 after buying an additional 12 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after acquiring an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 15 shares during the period. Blalock Williams LLC lifted its stake in Seagate Technology by 2.6% in the 2nd quarter. Blalock Williams LLC now owns 636 shares of the data storage provider's stock valued at $614,000 after purchasing an additional 16 shares during the last quarter. Finally, Beaumont Financial Advisors LLC raised its stake in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock valued at $321,000 after buying an additional 17 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on STX shares. Argus increased their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Wedbush upped their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Melius Research initiated coverage on shares of Seagate Technology in a research report on Monday, June 29th. They issued a "buy" rating and a $1,600.00 price target on the stock. Zacks Research raised shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. Finally, Citigroup lifted their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $986.00.

Seagate Technology Company Profile

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

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