Seagate Technology (NASDAQ:STX) Director Sells $929,880.00 in Stock

Key Points

• Director Prat Bhatt sold 1,000 shares of Seagate Technology for about $929,880, reducing his direct stake by 7.21%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Seagate’s stock was trading near $926.61, close to its 52-week high of $953.72, after gaining 0.6% on the day. The company also carries a large market cap of about $207.77 billion.
• The company recently reported better-than-expected quarterly earnings and revenue, and it announced a $0.74 quarterly dividend payable July 7. Analysts remain generally bullish, with several raising price targets and the consensus rating at Moderate Buy.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) Director Prat Bhatt sold 1,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $929.88, for a total transaction of $929,880.00. Following the completion of the transaction, the director directly owned 12,869 shares in the company, valued at $11,966,625.72. This represents a 7.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Trading Up 0.6%

Shares of Seagate Technology stock traded up $5.35 during trading on Tuesday, hitting $926.61. The stock had a trading volume of 2,555,822 shares, compared to its average volume of 4,153,224. The stock has a 50 day simple moving average of $621.76 and a 200 day simple moving average of $437.45. The company has a market capitalization of $207.77 billion, a PE ratio of 87.91 and a beta of 1.98. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology Holdings PLC has a 1 year low of $118.75 and a 1 year high of $953.72.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for 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%. The firm's quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Citigroup raised its price target on Seagate Technology to $1,150 from $740 and reiterated a buy rating, signaling continued confidence in the company’s upside after the stock’s strong run.
• Positive Sentiment: Seagate agreed to a $175 million settlement over shareholder claims tied to alleged sales to Huawei, removing a legal overhang that had been a source of uncertainty for investors. Article Title
• Positive Sentiment: Recent coverage also highlighted Seagate as a stock favored by some billionaire investors, reinforcing the bullish sentiment around the name. Article Title
• Neutral Sentiment: Quarterly semiconductor-sector roundup articles featuring Seagate are mainly contextual and do not appear to add a major new catalyst for the stock. Article Title
• Neutral Sentiment: Another report noted that a major investor, Situational Awareness LP, sold its Seagate stake, but the article does not indicate a broad shift in fundamentals. Article Title

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Mizuho lifted their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. UBS Group lifted their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $772.04.

Institutional Trading of Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC lifted its stake in Seagate Technology by 124.4% in the fourth 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 during the last quarter. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth lifted its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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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