Insider Selling: Seagate Technology (NASDAQ:STX) CEO Sells 20,000 Shares of Stock

Key Points

• CEO Insider Selling: Seagate Technology CEO William Mosley sold 20,000 shares at a total value of $4,998,000, reducing his ownership by 3.96% to 485,668 shares.
• Quarterly Earnings Growth: The company reported a quarterly EPS of $2.59, exceeding estimates, with a year-over-year revenue increase of 29.5% to $2.44 billion.
• Dividend Declaration: Seagate announced a quarterly dividend of $0.72 per share, set to be paid on October 9th, representing an annualized yield of 1.1%.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 20,000 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares of the company's stock, valued at approximately $121,368,433.20. This trade represents a 3.96% 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 the SEC website.

Seagate Technology Stock Down 0.8%

NASDAQ:STX traded down $1.95 during mid-day trading on Friday, reaching $252.79. The company's stock had a trading volume of 4,914,077 shares, compared to its average volume of 3,942,654. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $264.83. The stock has a fifty day moving average of $181.74 and a 200-day moving average of $134.53. The firm has a market capitalization of $53.84 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio is presently 42.54%.

Analyst Upgrades and Downgrades

Several research firms have commented on STX. Rosenblatt Securities increased their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Monday. Barclays upped their price objective on shares of Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Citigroup upped their price objective on shares of Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a report on Monday, September 8th. Finally, Susquehanna upped their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Sixteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $193.32.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of STX. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. grew its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Seagate Technology during the 1st quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.