Seagate Technology (NASDAQ:STX) EVP John Christopher Morris Sells 572 Shares

Key Points

• Seagate EVP John Christopher Morris sold 572 shares at an average price of $862.13, generating approximately $493,138. He retained 15,707 shares after the transaction and has also reported several recent sales.
• Seagate shares fell 3.8% to $829.73 in mid-day trading, while the company reported quarterly EPS of $5.71 and revenue of $3.63 billion, exceeding analyst estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $986, while Seagate declared a quarterly dividend of $0.74 per share, equating to a 0.4% yield.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP John Morris sold 572 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $862.13, for a total value of $493,138.36. Following the completion of the sale, the executive vice president owned 15,707 shares in the company, valued at $13,541,475.91. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

John Christopher Morris also recently made the following trade(s):

• On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The shares were sold at an average price of $849.35, for a total value of $2,986,314.60.
• On Thursday, August 20th, John Morris sold 523 shares of Seagate Technology stock. The shares were sold at an average price of $835.54, for a total transaction of $436,987.42.
• On Monday, August 3rd, John Morris sold 168 shares of Seagate Technology stock. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68.

Seagate Technology Trading Down 3.8%

Shares of Seagate Technology stock traded down $32.60 during mid-day 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 stock has a market capitalization of $188.67 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06. Seagate Technology Holdings PLC has a twelve month low of $193.32 and a twelve month high of $1,145.00. 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 50-day simple moving average of $848.58 and a 200 day simple moving average of $724.71.

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. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

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%.

Wall Street Analyst Weigh In

Several research firms recently commented on STX. Zacks Research upgraded Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. TD Cowen lifted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a "buy" rating in a 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. Morgan Stanley upped their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Argus raised their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $986.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. California State Teachers Retirement System increased its stake in Seagate Technology by 102,975.8% during the second quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider's stock worth $305,658,775,000 after acquiring an additional 316,437,552 shares during the last quarter. State Street Corp lifted its stake in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock valued at $2,587,535,000 after purchasing an additional 94,527 shares in the last quarter. Morgan Stanley lifted its stake in shares of Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock valued at $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after purchasing an additional 243,551 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

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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