Seagate Technology (NASDAQ:STX) EVP Sells $4,154,069.62 in Stock

Key Points

• EVP John Christopher Morris sold 5,626 shares for $4,154,069.62 on May 4 under a pre‑arranged Rule 10b5‑1 plan, reducing his stake by 32% to 11,954 shares; several other insiders also sold stock this week.
• Seagate beat estimates materially, reporting $4.10 EPS vs. $3.51 expected and revenue of $3.11B (up 44.1% YoY), gave Q4 2026 guidance of 4.800–5.200 EPS, and has seen analyst price‑target increases amid shares trading near their 12‑month high.
• The company declared a quarterly dividend of $0.74 per share (annualized $2.96, ~0.4% yield) and continues to show heavy institutional ownership (~92.9%).

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company's stock, valued at $8,826,474.98. The trade was a 32.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seagate Technology Price Performance

Shares of NASDAQ STX traded up $15.41 during midday trading on Wednesday, hitting $786.42. 5,562,733 shares of the company's stock were exchanged, compared to its average volume of 4,267,818. Seagate Technology Holdings PLC has a 12-month low of $93.32 and a 12-month high of $792.01. 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 company has a market cap of $176.34 billion, a price-to-earnings ratio of 74.61 and a beta of 1.98. The business's fifty day moving average price is $461.42 and its two-hundred day moving average price is $361.93.

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

Seagate Technology Announces Dividend

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

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate rolled out a new AI Storage Suite across Seagate, FireCuda and LaCie lines — high‑capacity (up to 256TB), Thunderbolt 5 support and creator/AI‑workflow features that reinforce Seagate’s TAM exposure to AI and content creation, supporting a premium valuation. Seagate’s New AI Storage Suite Meets Rapidly Rising STX Valuation
• Positive Sentiment: Wall Street coverage highlights momentum in STX — articles point to the company’s earnings beat, improving revenue mix and secular demand for storage tied to AI/datacenter as reasons for continued investor appetite. Seagate Stocks’s Rally Is No Accident: 3 Reasons Wall Street Is Optimistic
• Positive Sentiment: Momentum‑oriented research pieces (e.g., Zacks) are flagging STX as a high‑momentum name, which can attract trend‑following flows and ETFs. Seagate (STX) is a Great Momentum Stock: Should You Buy?
• Positive Sentiment: Broader market risk appetite is improving as the VIX retreats, which benefits tech and cyclical names like Seagate and likely helped lift STX alongside sector peers. CBOE VIX Slides Toward 17 as Oil Retreat and Tech Stock Surge Restore Risk Appetite
• Neutral Sentiment: Seagate will participate in upcoming investor events — increased management visibility can help sustain the rally if messaging reinforces demand trends and margin outlook. Seagate to Participate in Upcoming Investor Events
• Neutral Sentiment: Lead Independent Director Mike Cannon announced he will retire at the end of his term in Oct. 2026 — a governance change to watch but not an immediate operational issue. Seagate Announces the Retirement of Michael R. Cannon, Lead Independent Director
• Negative Sentiment: Several insiders sold stock this week under pre‑arranged 10b5‑1 plans: EVP John Christopher Morris sold 5,626 shares (~$4.15M) — a sizable single‑trade disposition that can signal executive profit‑taking despite being pre‑planned. Form 4 — John Christopher Morris
• Negative Sentiment: EVP James Ci Lee sold 697 shares (~$516K), reducing his stake by ~68% — another insider sale that contributes to supply into the market. Form 4 — James Ci Lee
• Negative Sentiment: Director Stephanie Tilenius sold 1,580 shares (~$1.21M), a ~12.9% reduction in her holding — additional insider selling that could be read as portfolio rebalancing or profit‑taking. Form 4 — Stephanie Tilenius

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of STX. WCM Investment Management LLC bought a new stake in Seagate Technology in the third quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its position in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Norges Bank bought a new stake in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Finally, Soroban Capital Partners LP lifted its position in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on STX shares. Barclays upped their target price on Seagate Technology from $625.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Wells Fargo & Company upped their target price on Seagate Technology from $450.00 to $700.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Seagate Technology in a research note on Wednesday, February 4th. BNP Paribas Exane upped their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Argus upped their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $709.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.