Seagate Technology (NASDAQ:STX) CEO Sells $75,584,012.46 in Stock

Key Points

• CEO William Mosley sold 97,889 Seagate shares for approximately $75.6 million at an average price of $772.14. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct ownership by 20.57%.
• Seagate’s latest quarterly results exceeded expectations, with earnings of $5.71 per share versus the $5.10 consensus and revenue of $3.63 billion, up 48.5% year over year. Shares recently traded around $783, while analysts maintained a generally favorable “Moderate Buy” consensus.
• The company declared a quarterly dividend of $0.74 per share, implying an annualized payout of $2.96 and a 0.4% yield. Institutional investors own approximately 92.87% of Seagate’s stock, with several major funds recently increasing their positions.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 97,889 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the transaction, the chief executive officer directly owned 378,108 shares of the company's stock, valued at approximately $291,952,311.12. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Seagate Technology Trading Up 1.5%

NASDAQ:STX traded up $11.37 on Wednesday, reaching $783.18. The stock had a trading volume of 3,353,335 shares, compared to its average volume of 4,331,383. The company has a market cap of $178.09 billion, a price-to-earnings ratio of 56.43 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm's fifty day moving average is $846.41 and its two-hundred day moving average is $733.04. Seagate Technology Holdings PLC has a 12-month low of $206.26 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data 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. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business posted $2.59 earnings per share. The company's revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of STX. Wellington Management Group LLP increased its position in 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 purchasing an additional 2,326,538 shares in the last quarter. Geode Capital Management LLC grew its stake in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after buying an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership grew 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 buying an additional 243,551 shares during the period. National Pension Service increased its position 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 in the last quarter. Finally, Norges Bank acquired a new stake in shares of Seagate Technology in the fourth quarter worth $498,363,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is being highlighted as a major beneficiary of rising AI-driven demand for high-capacity hard-disk drives. Fidelity’s investment commentary points to expanding hyperscale and data-center storage requirements, while Seagate’s latest quarterly results showed revenue growth of 48.5% year over year and earnings above expectations. Fidelity commentary on Seagate and AI storage demand
• Positive Sentiment: A Seagate-sponsored industry study found that 99% of organizations expect AI to increase storage needs, although only 38% believe they are fully prepared. The gap suggests potential future demand for Seagate’s mass-capacity storage products. Seagate AI storage research
• Positive Sentiment: Analyst sentiment remains favorable, with recent price-target increases and a consensus rating of “Moderate Buy.” Targets cited in the reports range as high as $1,300, reflecting expectations for strong nearline demand, hyperscale contracts and next-generation HAMR drive shipments. Seagate analyst ratings and price targets
• Neutral Sentiment: One report argues that Seagate could potentially reach $1,600 if AI-related storage demand continues to accelerate. However, the stock has already risen substantially, and investors are debating whether the expected growth is already reflected in its valuation. Seagate long-term price outlook
• Negative Sentiment: Multiple executives have recently sold shares, including CFO Gianluca Romano, CEO William Mosley and EVPs John Morris and Ban Teh. Most transactions were conducted under pre-arranged Rule 10b5-1 plans or to cover tax withholding on vested equity, which reduces their value as a bearish signal but may still weigh on sentiment. Seagate insider selling report
• Negative Sentiment: STX has also been pressured alongside other AI-linked technology stocks after prominent AI executives called for a slower, more cautious pace of frontier-model development. The market reaction raises concerns about the timing of AI infrastructure spending, even though Seagate’s underlying storage-demand outlook remains strong. AI technology sector selloff

Analyst Upgrades and Downgrades

STX has been the topic of several recent analyst reports. Rosenblatt Securities increased their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Argus increased their price objective 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. Finally, Melius Research began coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a "buy" rating and a $1,600.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.

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