Gianluca Romano Sells 955 Shares of Seagate Technology (NASDAQ:STX) Stock

Key Points

• Seagate CFO Gianluca Romano sold 955 shares for approximately $746,084 under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards. He retained 30,360 shares worth about $23.7 million.
• Seagate shares fell 4.2% to $771.81, despite the company reporting quarterly earnings and revenue above analyst expectations and year-over-year revenue growth of 48.5%.
• The company declared a quarterly dividend of $0.74 per share, equivalent to an annualized $2.96 payout and a 0.4% yield; analysts maintain a consensus “Moderate Buy” rating with an average price target of $986.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CFO Gianluca Romano sold 955 shares of Seagate Technology stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $781.24, for a total transaction of $746,084.20. Following the transaction, the chief financial officer directly owned 30,360 shares in the company, valued at approximately $23,718,446.40. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, September 11th, Gianluca Romano sold 45,898 shares of Seagate Technology stock. The shares were sold at an average price of $830.01, for a total value of $38,095,798.98.
• On Friday, September 11th, Gianluca Romano sold 4,600 shares of Seagate Technology stock. The shares were sold at an average price of $854.55, for a total value of $3,930,930.00.
• On Thursday, September 10th, Gianluca Romano sold 1,348 shares of Seagate Technology stock. The stock was sold at an average price of $862.13, for a total value of $1,162,151.24.
• 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 value 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 value of $5,659,073.60.
• On Friday, August 7th, Gianluca Romano sold 14,091 shares of Seagate Technology stock. The shares were sold at an average price of $811.25, for a total value of $11,431,323.75.
• On Friday, August 7th, Gianluca Romano sold 880 shares of Seagate Technology stock. The stock was sold at an average price of $845.12, for a total transaction of $743,705.60.

Seagate Technology Stock Down 4.2%

Shares of STX stock traded down $33.74 during mid-day trading on Tuesday, hitting $771.81. 4,043,886 shares of the stock traded hands, compared to its average volume of 4,336,638. The stock has a market cap of $175.50 billion, a P/E ratio of 55.61 and a beta of 2.06. The stock's fifty day moving average is $847.53 and its two-hundred day moving average is $730.58. Seagate Technology Holdings PLC has a 52-week low of $206.26 and a 52-week high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

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, beating analysts' consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analysts' expectations 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 was up 48.5% compared to the same quarter last year. During the same period last year, the business earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts predict 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. 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 of this dividend is Thursday, September 24th. Seagate Technology's payout ratio is currently 21.33%.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in the company. Retirement Wealth Solutions LLC increased its holdings in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 12 shares during the period. Jones Financial Companies Lllp purchased a new stake in Seagate Technology in the second quarter valued at approximately $39,000. Trust Co. of Vermont purchased a new stake in Seagate Technology in the second quarter valued at approximately $54,000. Triumph Capital Management increased its holdings in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider's stock worth $58,000 after buying an additional 29 shares during the period. Finally, Washington Trust Advisors Inc. raised its position in Seagate Technology by 712.5% during the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider's stock worth $62,000 after buying an additional 57 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Fidelity’s Dividend Growth Fund identified Seagate as a primary beneficiary of AI-driven hard-disk-drive demand. The investment case centers on rising data-storage requirements, strong nearline demand and Seagate’s exposure to hyperscale customers. Seagate Technology Primary Beneficiary of AI Driven HDD Demand
• Positive Sentiment: Seagate’s research found that 99% of organizations expect AI to increase storage needs, while only 38% say they are fully prepared. The findings support a long-term growth narrative for hard drives and enterprise storage infrastructure. Global Seagate Research Finds AI Will Increase Storage Requirements
• Positive Sentiment: Recent coverage says Seagate is shipping next-generation HAMR drives into hyperscale contracts, while nearline capacity is reportedly committed through 2027. That execution could strengthen its position versus Western Digital in AI-related storage. Seagate Versus Western Digital on AI Storage Demand
• Neutral Sentiment: Seagate’s Edge IoT revenue rose 20% year over year in fiscal fourth quarter, but analysts warn that seasonality, SSD displacement and competition could limit the business’s growth momentum. Seagate Edge IoT Business Growth
• Negative Sentiment: Investors are questioning whether STX can sustain its rapid gains at a high valuation, particularly after reports that its CEO, CFO and CTO have sold shares. An executive sale totaling about $493,000 adds to governance and sentiment concerns. Seagate Insider Selling
• Negative Sentiment: A broader decline in AI-linked stocks followed calls from major AI executives for a more deliberate pace of frontier-model development, raising concerns about the timing of AI infrastructure spending. Seagate was pressured alongside Western Digital and other technology names. AI-Linked Stocks Fall

Analyst Upgrades and Downgrades

Several analysts have recently commented on STX shares. Zacks Research upgraded Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Wall Street Zen cut Seagate Technology from a "strong-buy" rating to a "buy" rating in a research note on Sunday, September 6th. Barclays raised their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Bank of America boosted their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. One 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $986.00.

About Seagate Technology

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.

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