Seagate Technology (NASDAQ:STX) Stock Price Down 1.5% After Insider Selling

Key Points

• Seagate shares fell 1.5% after insider selling, with the stock trading below its prior close amid heavier-than-average trading volume.
• EVP Ban Seng Teh sold shares in two Rule 10b5-1 transactions, while CFO Gianluca Romano also sold stock, adding to investor attention on insider activity.
• Despite the pullback, analysts remain broadly positive on Seagate, citing strong earnings, improving AI-storage demand, and several recent price-target increases, including a $1,000 target from Evercore.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) fell 1.5% during trading on Thursday following insider selling activity. The stock traded as low as $796.17 and last traded at $804.76. 2,223,080 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,255,082 shares. The stock had previously closed at $817.35.

Specifically, EVP Ban Seng Teh sold 7,557 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $813.45, for a total value of $6,147,241.65. Following the completion of the transaction, 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 position. The transaction was disclosed in a 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. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president owned 3,691 shares of the company's stock, valued at $3,016,580.48. This represents a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their position. The transaction was disclosed in a 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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STX. Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Loop Capital lifted their price objective on shares of Seagate Technology from $700.00 to $800.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Sanford C. Bernstein lifted their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $450.00 to $700.00 and gave the company an "equal weight" 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $719.54.

Key Headlines Impacting Seagate Technology

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

Seagate Technology Stock Performance

The company's fifty day simple moving average is $508.89 and its 200 day simple moving average is $386.39. 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 capitalization of $180.45 billion, a P/E ratio of 76.35 and a beta of 1.98.

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

Seagate Technology Announces Dividend

The business 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Integrated Wealth Concepts LLC lifted its holdings in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Seagate Technology during the 2nd quarter worth $262,000. Cerity Partners LLC lifted its holdings in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock worth $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after acquiring an additional 462 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

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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