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Seagate Technology Holdings plc (NASDAQ:STX), a prominent player in the Technology Hardware, Storage & Peripherals industry with a market capitalization of approximately $20 billion, saw its CEO William D. Mosley recently sell a significant portion of his holdings in the company. According to InvestingPro data, the company maintains a "GREAT" financial health score and has delivered a strong 15.93% return year-to-date. According to a Form 4 filing with the Securities and Exchange Commission, Mosley disposed of 19,000 ordinary shares on March 3, 2025, amounting to a total transaction value of approximately $2,031,473. The shares were sold at prices ranging from $100.0847 to $103.237 each.
Following these transactions, Mosley retains ownership of 572,644 shares in Seagate. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which Mosley adopted in May 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid potential accusations of insider trading.
In other recent news, Seagate Technology has seen a series of positive developments from various analysts. Mizuho (NYSE:MFG) Securities reported that Seagate’s revenue and earnings per share for the December quarter exceeded consensus estimates, with figures reaching $2.33 billion and $2.03, respectively. The forecast for the March quarter aligns closely with consensus projections, showing continued confidence in Seagate’s performance. Meanwhile, Rosenblatt Securities raised its price target for Seagate to $150, citing a robust product and demand cycle driven by new high-density hard disk drives.
Northland analysts also increased their price target to $160 after Seagate’s earnings surpassed expectations, highlighting the company’s strong gross margins and demand for its products. Morgan Stanley (NYSE:MS) demonstrated similar confidence, lifting Seagate’s price target to $138 and maintaining an Overweight rating, driven by a sustainable hard disk drive cycle and expected earnings growth. Additionally, Baird analysts reiterated an Outperform rating with a $120 price target, emphasizing the long-term growth potential fueled by AI-driven demand for data storage. These recent developments reflect a broad consensus among analysts about Seagate’s promising market position and growth prospects.
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