Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells $608,950.30 in Stock

Key Points

• Seagate EVP James Ci Lee sold 694 shares at an average price of $877.45, generating $608,950.30. The Rule 10b5-1 transaction reduced his direct ownership by 66.67% to 347 shares.
• Seagate reported quarterly EPS of $5.71, beating estimates by $0.61, while revenue rose 48.5% year over year to $3.63 billion. The company also issued fiscal Q1 2027 EPS guidance of $7.10–$7.50.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $986, while Seagate announced a quarterly dividend of $0.74 per share, equivalent to a 0.4% yield.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP James Ci Lee sold 694 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the sale, the executive vice president directly owned 347 shares of the company's stock, valued at approximately $304,475.15. This represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

NASDAQ:STX traded down $25.07 during trading hours on Monday, reaching $831.06. 5,307,111 shares of the company's stock were exchanged, compared to its average volume of 4,424,589. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $186.35 billion, a P/E ratio of 59.87 and a beta of 2.06. Seagate Technology Holdings PLC has a 12 month low of $144.75 and a 12 month high of $1,145.00. The business's 50-day simple moving average is $896.91 and its two-hundred day simple moving average is $629.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter in the prior year, the company earned $2.59 earnings per share. The firm's revenue was up 48.5% on a year-over-year basis. 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 33.08 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's payout ratio is 21.33%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC grew its holdings in shares of Seagate Technology by 124.4% during 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. Rakuten Securities Inc. raised its holdings in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Avion Wealth boosted its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Concord Wealth Partners acquired a new stake in Seagate Technology during the fourth quarter valued at $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bank of America increased their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Argus upped their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday. Wells Fargo & Company raised 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 report on Wednesday, July 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Finally, Morgan Stanley boosted their price target on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $986.00.

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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