Seagate Technology (NASDAQ:STX) EVP Sells $570,239.67 in Stock

Key Points

• Seagate EVP Ban Seng Teh sold 663 shares for approximately $570,240 under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 10.24% to 5,810 shares.
• Seagate shares fell 3.8% to $829.73, while the company reported quarterly EPS of $5.71 and revenue of $3.63 billion, exceeding analyst expectations and marking 48.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.74 per share, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $986.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Teh sold 663 shares of Seagate Technology stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $860.09, for a total value of $570,239.67. Following the transaction, the executive vice president owned 5,810 shares in the company, valued at $4,997,122.90. This trade represents a 10.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, August 20th, Ban Teh sold 6,048 shares of Seagate Technology stock. The stock was sold at an average price of $842.97, for a total value of $5,098,282.56.
• On Friday, August 21st, Ban Teh sold 9,862 shares of Seagate Technology stock. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14.
• On Thursday, August 13th, Ban Teh sold 7,361 shares of Seagate Technology stock. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80.

Seagate Technology Stock Down 3.8%

Shares of Seagate Technology stock traded down $32.60 on Friday, hitting $829.73. The company had a trading volume of 3,838,915 shares, compared to its average volume of 4,338,222. The stock has a 50-day moving average of $848.58 and a 200-day moving average of $724.71. 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 Holdings PLC has a twelve month low of $193.32 and a twelve month high of $1,145.00. The firm has a market capitalization of $188.67 billion, a P/E ratio of 59.78 and a beta of 2.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS 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 net margin of 26.11% and a return on equity of 369.98%. The firm's quarterly revenue was up 48.5% on a year-over-year basis. During the same period last 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 predict that Seagate Technology Holdings PLC will post 35.7 earnings per share 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 paid a $0.74 dividend. The ex-dividend date of this dividend 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 currently 21.33%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock valued at $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $262,000. Cerity Partners LLC raised its holdings in shares of Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. lifted its stake in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after purchasing an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after purchasing an additional 462 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on STX. Fox Advisors cut Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. Sanford C. Bernstein restated an "outperform" rating and issued a $1,350.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Susquehanna boosted their target price on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Morgan Stanley upped their price target on Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Finally, Argus lifted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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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