Insider Selling: Seagate Technology (NASDAQ:STX) CFO Sells $11,431,323.75 in Stock

Key Points

• Seagate CFO Gianluca Romano sold 14,091 shares for approximately $11.43 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct holdings by 39.54% to 21,543 shares.
• Seagate reported stronger-than-expected quarterly results, with EPS of $5.71 and revenue of $3.63 billion, up 48.5% year over year. The company also issued fiscal Q1 2027 EPS guidance of $7.10–$7.50.
• Despite the insider sale, analysts maintain a generally positive outlook, giving Seagate a consensus “Moderate Buy” rating and an average price target of $986, compared with the reported share price of $820.52.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CFO Gianluca Romano sold 14,091 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the completion of the transaction, the chief financial officer directly owned 21,543 shares of the company's stock, valued at approximately $17,476,758.75. This trade represents a 39.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 880 shares of Seagate Technology stock. The shares were sold at an average price of $845.12, for a total transaction of $743,705.60.
• On Friday, June 12th, Gianluca Romano sold 903 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57.
• On Wednesday, June 10th, Gianluca Romano sold 1,350 shares of Seagate Technology stock. The shares were sold at an average price of $821.76, for a total transaction of $1,109,376.00.

Seagate Technology Price Performance

NASDAQ STX traded up $19.53 on Tuesday, reaching $820.52. The company's stock had a trading volume of 3,146,828 shares, compared to its average volume of 4,434,371. Seagate Technology Holdings PLC has a 52 week low of $152.05 and a 52 week 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 firm has a market cap of $185.97 billion, a PE ratio of 59.12 and a beta of 2.06. The business has a 50-day moving average price of $892.31 and a 200 day moving average price of $651.47.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $3.63 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts expect that Seagate Technology Holdings PLC will post 34.42 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. Investors 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 yield of 0.4%. Seagate Technology's payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STX. Wall Street Zen raised Seagate Technology from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Melius Research began coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a "buy" rating and a $1,600.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Wedbush increased their price target on Seagate Technology from $825.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Finally, Susquehanna lifted their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $986.00.

Institutional Trading of Seagate Technology

Several hedge funds have recently modified their holdings of STX. Integrated Wealth Concepts LLC boosted its position in 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 buying an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology during the second quarter valued at $262,000. Cerity Partners LLC boosted its holdings in Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. increased its position in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after purchasing an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after purchasing an additional 462 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Company Profile

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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