Seagate Technology (NASDAQ:STX) Trading Down 1.2% on Insider Selling

Key Points

• Seagate Technology shares fell 1.2% on Friday after insider selling news, with the stock last trading at $795.47 versus a prior close of $804.76.
• EVP Ban Seng Teh sold shares twice this week under a pre-arranged Rule 10b5-1 plan, reducing his ownership by about two-thirds. The transactions totaled more than $12.6 million.
• Despite the pullback, analysts remain upbeat on STX, with multiple firms recently raising price targets and the consensus rating still at “Moderate Buy.” Seagate also reported a strong earnings beat and raised guidance, supporting the longer-term outlook.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report)'s stock price fell 1.2% during trading on Friday following insider selling activity. The stock traded as low as $765.77 and last traded at $795.47. 2,728,171 shares were traded during trading, a decline of 36% from the average session volume of 4,240,133 shares. The stock had previously closed at $804.76.

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 transaction of $6,147,241.65. Following the transaction, the executive vice president owned 3,691 shares of the company's stock, valued at $3,002,443.95. The trade was a 67.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This represents a 68.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

STX has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. BNP Paribas Exane boosted their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Citigroup boosted their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Finally, KeyCorp set a $500.00 target price on shares of Seagate Technology in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $733.71.

More Seagate Technology News

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

Seagate Technology Trading Down 1.2%

The stock's fifty day moving average price is $517.83 and its 200 day moving average price is $390.41. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market capitalization of $178.37 billion, a P/E ratio of 75.47 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The business's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts forecast that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bridgewater Advisors Inc. grew its holdings in Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after acquiring an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after acquiring an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC grew its holdings in Seagate Technology by 2.1% during the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock worth $321,000 after acquiring an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in Seagate Technology by 0.5% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after acquiring an additional 19 shares in the last quarter. Finally, WealthCollab LLC grew its holdings in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after acquiring an additional 20 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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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