William D. Mosley, the Chief Executive Officer of Seagate Technology Holdings plc (NASDAQ:STX), a prominent player in the Technology Hardware industry with a market cap of $20.25 billion, has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Mosley sold a total of 19,000 ordinary shares on February 3, 2025. The sales occurred at prices ranging from $93.68 to $95.16 per share, amounting to a total transaction value of approximately $1.88 million. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.
Following these transactions, Mosley retains ownership of 585,591 shares in the company. The transactions were executed under a Rule 10b5-1 trading plan, which Mosley adopted on May 6, 2024. This plan allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own, thus providing some protection against accusations of insider trading. The company maintains strong fundamentals with a "GREAT" financial health score from InvestingPro, and has consistently paid dividends for 15 consecutive years, currently yielding 3.05%.
In other recent news, Seagate Technology has been the subject of several analyst updates. Rosenblatt Securities raised their price target on the company’s shares to $150, citing Seagate’s robust product and demand cycle, along with the introduction of higher density hard disk drives (HDDs). Northland analysts also increased their target to $160, following Seagate’s higher-than-expected earnings due to increased gross margins.
Meanwhile, Mizuho (NYSE:MFG) Securities increased Seagate’s price target to $115, highlighting the company’s robust performance in the December quarter with revenue and earnings per share surpassing consensus estimates. The firm anticipates further gross margin expansion due to Seagate’s Heat-Assisted Magnetic Recording (HAMR) technology and escalating storage requirements for artificial intelligence applications.
Baird analysts reiterated an Outperform rating and a $120 price target, noting that Seagate is set to benefit from increasing capital expenditures by hyperscalers and the expansion of artificial intelligence technologies. Lastly, Summit Insights Group upgraded Seagate from Hold to Buy, citing the potential for the company’s HAMR Hard Disk Drive technology to improve gross margins in the second half of 2025. These are the latest developments for Seagate Technology.
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