Seagate Technology (NASDAQ:STX) Trading Down 4.7% - Here's Why

Key Points

• Seagate Technology's stock decreased by 4.7%, trading at $231.44 after previously closing at $242.83, with a significant drop in trading volume compared to the average.
• Analysts show mixed ratings on Seagate, with price targets ranging from $80 to $250, and an overall consensus rating of "Moderate Buy" with an average target price of $193.32.
• Seagate recently announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.3%, highlighting a payout ratio of 42.54%.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) fell 4.7% during trading on Tuesday . The stock traded as low as $234.62 and last traded at $231.44. 980,106 shares were traded during mid-day trading, a decline of 75% from the average session volume of 3,931,983 shares. The stock had previously closed at $242.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on STX shares. Robert W. Baird lifted their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Mizuho boosted their target price on Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Benchmark boosted their price target on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Susquehanna upped their price objective on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Seagate Technology in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average target price of $193.32.

Seagate Technology Stock Performance

The stock has a market capitalization of $48.12 billion, a P/E ratio of 33.45, a PEG ratio of 1.13 and a beta of 1.63. The firm has a fifty day moving average price of $185.62 and a two-hundred day moving average price of $137.40.

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

Seagate Technology Dividend Announcement

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

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction that occurred 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 transaction, the director directly owned 352 shares of the company's stock, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Ci Lee sold 3,509 shares of Seagate Technology stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the completion of the transaction, the insider directly owned 1,288 shares in the company, valued at $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock valued at $14,394,416 over the last quarter. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Several large investors have recently bought and sold shares of the business. Salvus Wealth Management LLC raised its position in Seagate Technology by 2.0% during the second quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider's stock worth $493,000 after acquiring an additional 68 shares during the last quarter. Asset Dedication LLC grew its stake in Seagate Technology by 9.5% during the second quarter. Asset Dedication LLC now owns 809 shares of the data storage provider's stock worth $117,000 after buying an additional 70 shares during the period. GoalVest Advisory LLC grew its stake in Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock worth $46,000 after buying an additional 75 shares during the period. Angeles Wealth Management LLC grew its stake in Seagate Technology by 2.2% during the second quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider's stock worth $503,000 after buying an additional 76 shares during the period. Finally, Bessemer Group Inc. grew its stake in Seagate Technology by 3.3% during the second quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider's stock worth $361,000 after buying an additional 81 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

About Seagate Technology

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.

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