Seagate Technology (NASDAQ:STX) Director Sells $927,680.00 in Stock

Key Points

• Seagate director sale: Director Shankar Arumugavelu sold 1,000 shares of Seagate Technology stock for about $927,680, reducing his holdings by 13.11%.
• Stock and earnings performance: Seagate shares slipped 1.6% on the day, even after the company reported quarterly EPS of $4.10 on revenue of $3.11 billion, both above estimates.
• Dividend and analyst sentiment: The company declared a quarterly dividend of $0.74 per share, while analysts remain mostly bullish with an average Moderate Buy rating and an average price target of $772.04.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) Director Shankar Arumugavelu sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the completion of the sale, the director owned 6,626 shares of the company's stock, valued at approximately $6,146,807.68. This trade represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Seagate Technology Stock Down 1.6%

STX traded down $14.70 during trading on Thursday, hitting $925.99. The stock had a trading volume of 2,521,289 shares, compared to its average volume of 4,126,052. The company has a market capitalization of $207.63 billion, a PE ratio of 87.85 and a beta of 2.04. Seagate Technology Holdings PLC has a twelve month low of $124.63 and a twelve month high of $966.80. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a 50 day simple moving average of $642.80 and a two-hundred day simple moving average of $446.76.

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

Seagate Technology Announces Dividend

The business 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 $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is currently 28.08%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays raised their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Cantor Fitzgerald raised their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Citigroup raised their price target on shares of Seagate Technology from $740.00 to $1,150.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley raised their price target on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Finally, Argus raised their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $772.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Vanguard Group Inc. boosted its position in Seagate Technology by 1.6% during the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider's stock worth $6,642,796,000 after acquiring an additional 442,749 shares during the last quarter. State Street Corp boosted its position in Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider's stock worth $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley boosted its position in Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider's stock worth $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC boosted its position in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider's stock worth $1,343,683,000 after acquiring an additional 234,436 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider's stock worth $879,338,000 after acquiring an additional 243,551 shares during 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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