John Christopher Morris Sells 168 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP John Christopher Morris sold 168 shares of Seagate Technology stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68. Following the transaction, the executive vice president directly owned 11,920 shares of the company's stock, valued at approximately $9,747,699.20. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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John Christopher Morris also recently made the following trade(s):

• On Friday, June 12th, John Christopher Morris sold 1,364 shares of Seagate Technology stock. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16.
• On Wednesday, June 10th, John Christopher Morris sold 574 shares of Seagate Technology stock. The stock was sold at an average price of $821.66, for a total transaction of $471,632.84.

Seagate Technology Price Performance

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Shares of NASDAQ STX opened at $845.35 on Wednesday. The company has a 50 day simple moving average of $897.27 and a two-hundred day simple moving average of $637.35. Seagate Technology Holdings PLC has a fifty-two week low of $144.75 and a fifty-two week high of $1,145.00. The company has a market capitalization of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

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Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Analysts expect that Seagate Technology Holdings PLC will post 33.08 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's payout ratio is 21.33%.

Institutional Inflows and Outflows

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Several hedge funds have recently modified their holdings of the business. PFA Pension Forsikringsaktieselskab bought a new stake in Seagate Technology in the 4th quarter worth about $23,882,000. New York State Teachers Retirement System lifted its stake in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock valued at $51,510,000 after acquiring an additional 8,991 shares during the period. Praxis Investment Management Inc. lifted its stake in Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after acquiring an additional 2,389 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after acquiring an additional 6,028 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Seagate Technology by 64.5% during the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock valued at $5,872,000 after acquiring an additional 8,358 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Melius Research assumed coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a "buy" rating and a $1,600.00 price objective on the stock. Bank of America raised their price objective on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Citigroup lifted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Finally, Mizuho upped their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $986.00.

Read Our Latest Report on STX

Seagate Technology News Roundup

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

• Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual level of visibility for a cyclical storage company. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
• Positive Sentiment: Seagate’s fundamentals remain strong. The company recently reported quarterly EPS of $5.71, exceeding the $5.10 analyst consensus, while revenue reached $3.63 billion versus expectations of $3.50 billion. Revenue rose 48.5% year over year, and management issued quarterly EPS guidance of $7.10 to $7.50. 5 Momentum Stocks to Buy for August Despite a Mixed July
• Positive Sentiment: Seagate remains a favored momentum stock. Analysts continue to point to AI infrastructure spending, earnings growth and financial strength as reasons to consider STX among August’s momentum opportunities. Zacks 5 Momentum Stocks to Buy
• Neutral Sentiment: Insiders reported several planned sales. CEO William D. Mosley sold 30,000 shares for approximately $24.5 million across two transactions, while EVP John Christopher Morris sold 168 shares. The trades were conducted under pre-arranged Rule 10b5-1 plans, reducing their value as indicators of management’s current outlook. Seagate CEO Form 4 Filing
• Negative Sentiment: Sector-wide selling is pressuring STX. Seagate fell alongside Western Digital, Micron and other memory stocks as investors took profits and reassessed cyclical demand and elevated valuations. STX’s beta of 2.06 and valuation near 60 times earnings point to heightened sensitivity to sector sentiment. Seagate and Western Digital Dive as Memory Stocks Cool

Seagate Technology Company Profile

(Get Free Report)

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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