Seagate Technology (NASDAQ:STX) CFO Sells $38,095,798.98 in Stock

Key Points

• Seagate CFO Gianluca Romano sold 45,898 shares for approximately $38.1 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct stake by 57.29% to 34,220 shares.
• STX shares fell 4.2% to $771.81, while the company traded at a P/E ratio of 55.61 and remained near the upper end of its 52-week range.
• Seagate recently exceeded quarterly earnings and revenue expectations, raised its growth outlook, and declared a $0.74 quarterly dividend; analysts maintained an overall “Moderate Buy” rating with an average price target of $986.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CFO Gianluca Romano sold 45,898 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $830.01, for a total value of $38,095,798.98. Following the transaction, the chief financial officer directly owned 34,220 shares in the company, valued at approximately $28,402,942.20. The trade was a 57.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Gianluca Romano sold 955 shares of Seagate Technology stock. The shares were sold at an average price of $781.24, for a total value of $746,084.20.
• On Friday, September 11th, Gianluca Romano sold 4,600 shares of Seagate Technology stock. The stock was sold at an average price of $854.55, for a total transaction 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 transaction of $1,162,151.24.
• On Friday, August 21st, Gianluca Romano sold 9,076 shares of Seagate Technology stock. The shares were 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 stock was sold at an average price of $845.12, for a total transaction of $743,705.60.

Seagate Technology Stock Down 4.2%

STX stock traded down $33.74 during midday trading on Tuesday, hitting $771.81. The company's stock had a trading volume of 4,043,886 shares, compared to its average volume of 4,336,638. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology Holdings PLC has a 52-week low of $206.26 and a 52-week high of $1,145.00. The firm has a market capitalization of $175.50 billion, a P/E ratio of 55.61 and a beta of 2.06. The firm has a 50-day simple moving average of $847.53 and a 200-day simple moving average of $730.58.

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, topping analysts' consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company's revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The business 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 dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology's dividend payout ratio is 21.33%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares during the period. Norges Bank acquired a new position in shares of Seagate Technology during the fourth quarter worth approximately $498,363,000. Janus Henderson Group PLC grew its holdings in Seagate Technology by 3,872.1% in the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after buying an additional 943,170 shares in the last quarter. Deutsche Bank AG grew its holdings in Seagate Technology by 102.0% in the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock worth $440,614,000 after buying an additional 807,962 shares in the last quarter. Finally, National Pension Service increased its position in Seagate Technology by 298.7% in the 4th quarter. National Pension Service now owns 997,223 shares of the data storage provider's stock valued at $274,625,000 after acquiring an additional 747,102 shares during the period. 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 Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a report on Wednesday, June 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday, July 29th. Citigroup raised their price objective on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Finally, Mizuho boosted their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. 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 company. Based on data from MarketBeat.com, the stock currently 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.

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