Seagate Technology (NASDAQ:STX) Stock Price Down 3% – Time to Sell?
by Renee Jackson · The Cerbat GemSeagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s stock price dropped 3% during trading on Tuesday . The stock traded as low as $766.97 and last traded at $808.80. Approximately 3,772,597 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 4,296,733 shares. The stock had previously closed at $834.01.
Key Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Evercore and other analysts raised their price targets on Seagate, citing HAMR adoption, strong AI-related storage demand, and improving growth prospects. Article Title
- Positive Sentiment: Recent coverage highlighted booming AI-led storage demand and strong free cash flow, which supports the case for continued upside in Seagate’s earnings power. Article Title
- Neutral Sentiment: Seagate announced the planned retirement of Lead Independent Director Mike Cannon, a governance change that could raise some questions but does not directly alter the company’s operating outlook. Article Title
- Negative Sentiment: EVP Ban Seng Teh sold a large block of shares under a pre-arranged 10b5-1 plan, which may weigh on sentiment even though the sale was scheduled in advance. Article Title
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Cantor Fitzgerald raised their target price on Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane raised their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein raised their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Robert W. Baird raised their target price on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Wells Fargo & Company raised their target price on 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 analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $719.54.
Read Our Latest Analysis on STX
Seagate Technology Stock Down 1.5%
The company has a market capitalization of $180.45 billion, a price-to-earnings ratio of 76.35 and a beta of 1.98. The firm has a 50 day moving average price of $517.83 and a two-hundred day moving average price of $390.41. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.
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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is 28.08%.
Insiders Place Their Bets
In related news, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at approximately $152,779,151.07. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 118,283 shares of company stock valued at $65,989,618. 0.79% of the stock is owned by company insiders.
Hedge Funds Weigh In On Seagate Technology
Hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the period. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth boosted its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.
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.