U.S. stocks mixed ahead of Fed decision
The insider sale comes as Seagate Technology Holdings plc (NASDAQ:STX), a prominent player in technology hardware storage with a $44.92B market cap, trades near its 52-week high of $214.2. John Christopher Morris, Executive Vice President and CTO, sold 15,347 shares of ordinary shares on September 12, 2025, at prices ranging from $193.9237 to $197.8492, for a total value of $3,004,950. According to InvestingPro analysis, the stock appears overvalued after surging 143% in the past six months.
According to a Form 4 filing with the Securities and Exchange Commission, Morris also disposed of 430 shares to cover tax obligations at a price of $196.81, totaling $84,628. Additionally, 3,163 shares were disposed of at $195.99, for a total value of $619,916 to cover tax obligations.
On September 11 and 14, Morris exercised options to acquire a total of 7,876 ordinary shares at a price of $0.
In other recent news, Seagate Technology announced a significant £100 million investment in Northern Ireland to advance nanophotonic innovations for next-generation hard drives. This initiative is further supported by an additional £15 million from Invest NI. The investment aims to bolster Seagate’s Mozaic 6+ technology, which is crucial for addressing the rising global storage demands. Additionally, Benchmark raised its price target for Seagate to $165 from $128, maintaining a Buy rating, following strong quarterly results driven by robust global cloud demand. The company reported record Nearline drive shipments and gross margins during the June quarter. Cantor Fitzgerald also reiterated an Overweight rating on Seagate, highlighting its performance as one of the top in its coverage universe. Furthermore, Seagate appointed Thomas Szlosek, AutoNation’s CFO, to its Board of Directors, where he will serve on the Audit and Finance Committee. Meanwhile, Morgan Stanley shifted its top pick in the storage sector to Western Digital, raising its price target to $99, indicating potential growth in the sector.
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