Seagate Technology (NASDAQ:STX) Shares Down 5.4% - Here's What Happened

Key Points

• Seagate Technology shares fell by 5.4% on Monday, trading at around $213.19 after closing at $225.40, with trading volume down by 39% from the average.
• Equities analysts have raised price targets for Seagate Technology, with estimates ranging from $175.00 to $280.00, indicating strong optimism around the stock's potential.
• The company recently paid a quarterly dividend of $0.72 per share and has a dividend yield of 1.3%, underscoring its commitment to returning value to shareholders.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares were down 5.4% on Monday . The company traded as low as $209.37 and last traded at $213.19. Approximately 2,448,179 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 3,989,338 shares. The stock had previously closed at $225.40.

Analysts Set New Price Targets

A number of equities research analysts recently commented on STX shares. Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Zacks Research upgraded Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group increased their price target on Seagate Technology from $170.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Robert W. Baird boosted their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Mizuho increased their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.40.

Seagate Technology Trading Down 4.9%

The stock has a fifty day simple moving average of $198.09 and a two-hundred day simple moving average of $145.96. The firm has a market cap of $45.66 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 1.01 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.3%. Seagate Technology's payout ratio is presently 42.54%.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the sale, the director directly owned 352 shares of the company's stock, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the transaction, the executive vice president directly owned 13,238 shares in the company, valued at approximately $2,796,659.88. This represents a 2.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,620 shares of company stock valued at $14,464,056 over the last three months. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of STX. Personal CFO Solutions LLC purchased a new position in shares of Seagate Technology during the first quarter worth approximately $223,000. Amalgamated Bank grew its holdings in shares of Seagate Technology by 0.8% during the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after purchasing an additional 243 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Seagate Technology in the 1st quarter worth $272,000. Alps Advisors Inc. raised its position in Seagate Technology by 10.2% in the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock worth $23,687,000 after purchasing an additional 25,817 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in Seagate Technology in the second quarter worth $322,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.