Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 7,557 Shares

Key Points

• Seagate EVP Ban Seng Teh sold shares twice in mid-May, including 7,557 shares on May 13 for about $6.15 million and 8,003 shares on May 14 for about $6.54 million, both under a pre-arranged 10b5-1 plan.
• Seagate reported strong quarterly results, with EPS of $4.10 topping estimates and revenue of $3.11 billion beating expectations; revenue rose 44.1% year over year, and the company issued Q4 2026 EPS guidance of $4.80 to $5.20.
• Analysts remain broadly bullish on STX, with multiple firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target of $719.54. The company also announced a quarterly dividend of $0.74 per share, payable July 7.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 7,557 shares of Seagate Technology stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $813.45, for a total value of $6,147,241.65. Following the sale, the executive vice president directly owned 3,691 shares in the company, valued at approximately $3,002,443.95. The trade was a 67.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84.

Seagate Technology Stock Down 1.5%

Seagate Technology stock traded down $12.59 during midday trading on Thursday, hitting $804.76. The stock had a trading volume of 2,354,068 shares, compared to its average volume of 4,255,103. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market cap of $180.45 billion, a P/E ratio of 76.35 and a beta of 1.98. Seagate Technology Holdings PLC has a 12 month low of $103.73 and a 12 month high of $841.31. The business has a fifty day moving average price of $508.89 and a 200 day moving average price of $386.39.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. UBS Group boosted their price objective on Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Mizuho lifted their target price on Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Citigroup lifted their target price on Seagate Technology from $595.00 to $740.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities lifted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $719.54.

Seagate Technology News Summary

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

• Positive Sentiment: Evercore raised its price target on Seagate to $1,000 after an investor meeting, highlighting confidence in HAMR technology and future growth potential. Seagate gets new $1000 price target at Evercore after investor meeting
• Positive Sentiment: BofA and other bulls remain constructive after Seagate’s strong fiscal Q3 results, which came in above guidance and featured record margins and roughly $1 billion in free cash flow, reinforcing the AI storage growth story. A Look At Seagate Technology Holdings (STX) Valuation After Strong Q3 Results And Growing AI Infrastructure Optimism
• Positive Sentiment: Commentary around booming AI-led storage demand, including cloud demand and HAMR adoption, is keeping investors focused on Seagate as a direct beneficiary of the AI infrastructure buildout. STX Soars 197% YTD: Buy the Stock Amid Booming AI-Led Storage Demand?
• Neutral Sentiment: Seagate announced the planned retirement of Lead Independent Director Mike Cannon from the board; while not a major operational issue, it raises some governance questions after a huge run in the stock. Seagate Board Transition Raises Questions For AI Storage Growth Story
• Neutral Sentiment: Broader AI memory-chip enthusiasm and the rally in related names are adding positive sector momentum for Seagate, though this is more of an industry tailwind than a company-specific catalyst. Micron, SanDisk Stocks Jump -- AI Memory Boom Ignites Chip Rally

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Avion Wealth lifted its position in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Institutional investors own 92.87% of the company's stock.

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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