Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells 16,220 Shares of Stock

Key Points

• Seagate CEO William Mosley sold 16,220 shares on June 1 in a pre-arranged Rule 10b5-1 plan, fetching about $14.6 million. After the sale, he still owned 337,371 shares valued at roughly $303.7 million.
• Seagate’s stock was trading near record highs, rising 0.6% to $926.61 on the day cited, with a 52-week range of $118.75 to $953.72. The company’s market cap was about $207.8 billion.
• Recent fundamentals and sentiment remain strong: Seagate beat quarterly EPS and revenue estimates, raised guidance, and analysts have broadly turned bullish, while the company also announced a $0.74 quarterly dividend.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 16,220 shares of Seagate Technology stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $900.21, for a total transaction of $14,601,406.20. Following the sale, the chief executive officer owned 337,371 shares in the company, valued at approximately $303,704,747.91. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Trading Up 0.6%

NASDAQ:STX traded up $5.35 during mid-day trading on Tuesday, hitting $926.61. 2,555,822 shares of the company's stock were exchanged, compared to its average volume of 4,153,224. The company has a 50 day simple moving average of $621.76 and a 200-day simple moving average of $437.45. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a fifty-two week low of $118.75 and a fifty-two week high of $953.72. The firm has a market capitalization of $207.77 billion, a P/E ratio of 87.91 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company earned $1.90 EPS. The firm's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

Analyst Ratings Changes

Several research analysts have issued reports on STX shares. UBS Group raised their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Loop Capital raised their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein raised their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $772.04.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,150 from $740 and reiterated a buy rating, signaling continued confidence in the company’s upside after the stock’s strong run.
• Positive Sentiment: Seagate agreed to a $175 million settlement over shareholder claims tied to alleged sales to Huawei, removing a legal overhang that had been a source of uncertainty for investors. Article Title
• Positive Sentiment: Recent coverage also highlighted Seagate as a stock favored by some billionaire investors, reinforcing the bullish sentiment around the name. Article Title
• Neutral Sentiment: Quarterly semiconductor-sector roundup articles featuring Seagate are mainly contextual and do not appear to add a major new catalyst for the stock. Article Title
• Neutral Sentiment: Another report noted that a major investor, Situational Awareness LP, sold its Seagate stake, but the article does not indicate a broad shift in fundamentals. Article Title

Institutional Trading of Seagate Technology

Hedge funds have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after acquiring an additional 15 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. WealthCollab LLC increased its stake in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Seagate Technology in the 1st quarter valued at $39,000. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology in the 4th quarter valued at $28,000. Institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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