William D. Mosley, Chief Government Officer of Seagate Know-how Holdings plc (NASDAQ:STX), has bought a good portion of his holdings within the firm. In line with a current SEC submitting, Mosley divested a complete of 20,000 strange shares on November 1, 2024, amounting to roughly $1.99 million. The shares have been bought at costs starting from $99.16 to $100.93 per share.
Following the transactions, Mosley retains possession of 642,497 shares within the information storage firm. These gross sales have been performed below a pre-established Rule 10b5-1 buying and selling plan, which permits firm insiders to arrange a predetermined schedule for promoting shares, thereby avoiding considerations of insider buying and selling.
In different current information, Seagate Know-how has been making vital strides within the tech world. The corporate reported sturdy monetary efficiency in its Fiscal First Quarter 2025, with income surging to $2.17 billion, marking a 49% year-over-year development. Non-GAAP EPS additionally exceeded expectations at $1.58, pushed by an improved product combine and pricing. Seagate’s gross margin reached a decade-high of 33.3%, with non-GAAP gross revenue climbing 24% to $723 million.
These current developments are largely attributed to sturdy demand within the cloud and enterprise markets, particularly for high-capacity nearline drives. Benchmark has maintained a Maintain ranking on Seagate’s inventory, primarily based on the corporate’s sturdy efficiency and the potential for margin enchancment because of AI integration. For fiscal yr 2026, Seagate’s non-GAAP earnings are projected to face at $8.44 per diluted share, with gross sales estimated at $10.1 billion.
Seagate can also be optimistic in regards to the demand for mass capability drives and future development leveraging HAMR know-how. Regardless of potential financial uncertainties in China and potential delays in HAMR rollout, Seagate stays dedicated to delivering scalable storage options and maximizing shareholder worth.
InvestingPro Insights
Whereas William D. Mosley’s current sale of Seagate Know-how Holdings plc (NASDAQ:STX) shares may increase eyebrows, it is essential to contemplate the broader monetary context of the corporate. In line with InvestingPro information, Seagate’s market capitalization stands at $21.16 billion, reflecting its vital presence within the Know-how {Hardware}, Storage & Peripherals trade.
Regardless of the insider sale, there are constructive indicators for Seagate’s monetary well being. An InvestingPro Tip highlights that analysts anticipate gross sales development within the present yr, which aligns with the corporate’s income development of 6.79% over the past twelve months. This development trajectory is additional supported by a strong quarterly income enhance of 49.11% in the newest quarter.
One other encouraging InvestingPro Tip notes that Seagate has maintained dividend funds for 14 consecutive years, demonstrating a dedication to shareholder returns. The present dividend yield of two.91% could also be engaging to income-focused buyers.
It is value noting that Seagate’s P/E ratio of 25.51 suggests the inventory is buying and selling at a premium in comparison with some friends. Nevertheless, this ought to be balanced towards the corporate’s sturdy monetary efficiency, together with an EBITDA development of 303.67% over the past twelve months.
For buyers in search of a extra complete evaluation, InvestingPro affords further ideas and insights. The truth is, there are 8 extra InvestingPro Ideas obtainable for Seagate Know-how, offering a deeper dive into the corporate’s monetary outlook and market place.
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