Seagate Technology (NASDAQ:STX) Shares Down 5.1% – Here’s What Happened
by Scott Moore · The Cerbat GemSeagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s share price dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as $505.53 and last traded at $506.3090. Approximately 617,381 shares were traded during trading, a decline of 85% from the average daily volume of 4,083,580 shares. The stock had previously closed at $533.44.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Seagate Technology in a research note on Monday, March 30th. They set an “overweight” rating and a $525.00 target price for the company. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. KeyCorp set a $500.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 28th. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $491.00.
View Our Latest Analysis on STX
Seagate Technology Stock Down 4.8%
The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business’s fifty day moving average price is $415.62 and its two-hundred day moving average price is $328.78. The stock has a market capitalization of $110.71 billion, a PE ratio of 57.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.61.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were given a $0.74 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.6%. Seagate Technology’s dividend payout ratio is currently 33.48%.
Insider Buying and Selling
In other news, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 24,584 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the transaction, the chief executive officer directly owned 375,591 shares of the company’s stock, valued at approximately $152,779,151.07. This trade represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 112,223 shares of company stock worth $46,711,217 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Seagate Technology
Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology during the fourth quarter worth about $28,000. Concord Wealth Partners acquired a new stake in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth raised its position in Seagate Technology by 343.5% during 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 in the last quarter. Finally, Quarry LP purchased a new position in Seagate Technology during the fourth quarter valued at approximately $31,000. 92.87% of the stock is owned by institutional investors and hedge funds.
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.