Seagate Technology (NASDAQ:STX) Trading Down 2.1% - What's Next?

Key Points

• Seagate shares fell 2.1% to $829.76 in mid-day trading, with volume 36% below the average. The stock remains well above its 200-day moving average of $694.71.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $986.00; recent targets range from $875 to $1,400.
• Seagate reported quarterly EPS of $5.71 and revenue of $3.63 billion, beating estimates and marking 48.5% year-over-year revenue growth. The company also declared a $0.74 quarterly dividend, while insiders have sold approximately $166.6 million of stock over the past three months.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) fell 2.1% during mid-day trading on Friday . The stock traded as low as $825.50 and last traded at $829.76. 2,797,172 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 4,395,254 shares. The stock had previously closed at $847.20.

Analysts Set New Price Targets

Several research analysts recently commented on STX shares. Wall Street Zen cut Seagate Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Wedbush increased their price target on Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Susquehanna boosted their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Finally, Rosenblatt Securities raised their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $986.00.

Seagate Technology Price Performance

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 stock has a market capitalization of $188.07 billion, a price-to-earnings ratio of 59.78 and a beta of 2.06. The company's 50 day moving average is $875.70 and its 200 day moving average is $694.71.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm posted $2.59 earnings per share. The company's revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

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 issued a dividend of $0.74 per share. 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%.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 9,862 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $852.97, for a total value of $8,411,990.14. Following the transaction, the executive vice president directly owned 5,210 shares of the company's stock, valued at approximately $4,443,973.70. The trade was a 65.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 20,657 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $910.48, for a total transaction of $18,807,785.36. Following the completion of the sale, the chief executive officer owned 320,860 shares of the company's stock, valued at $292,136,612.80. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 193,765 shares of company stock worth $166,634,842 in the last three months. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. raised 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 buying an additional 168 shares in the last quarter. Retirement Wealth Solutions LLC boosted its stake in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider's stock valued at $28,000 after buying an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after acquiring an additional 15 shares during the period. Quarry LP purchased a new position in Seagate Technology in the fourth quarter worth $31,000. Finally, WealthCollab LLC raised its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

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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