Seagate shares dip to session low during Citigroup conference

Seagate shares dip to session low during Citigroup conference

Seagate Technology Holdings PLC (NASDAQ: STX) experienced a notable decline in its stock price during the Citigroup conference held on September 2, 2025. The stock dipped to its session low, raising concerns among investors and analysts. The company reported earnings of $2.59 per share (EPS) for the first quarter, which exceeded analysts' expectations of $2.45. Despite the positive earnings report, Seagate's stock price fell, indicating a potential shift in investor sentiment.





The earnings report highlighted a 29.5% increase in revenue year-over-year, which was a positive sign for the data storage provider. However, the company's stock repurchase program of $5.00 billion and a quarterly dividend of $0.72 per share did not appear to have a significant positive impact on the stock price.











The dip in Seagate's stock price could be attributed to several factors. Firstly, the company's stock has been overbought by institutional investors, with 92.87% of the stock owned by hedge funds and other institutional investors [1]. This high level of ownership may have contributed to the stock's price volatility. Additionally, insider activity, such as the sale of shares by CEO William D. Mosley and other insiders, could have influenced the stock price. The total shares sold by insiders in the last ninety days amounted to 242,439 shares, valued at $31,746,801 [1].





Analysts have also set new price targets for Seagate Technology. Citigroup upgraded its target price from $140.00 to $170.00 and gave the stock a "buy" rating, while Morgan Stanley lifted its price target from $167.00 to $168.00 and gave the company an "overweight" rating [1]. Despite these positive analyst ratings, the stock price continued to decline during the Citigroup conference.





The decline in Seagate's stock price may be a temporary setback, and the company's strong earnings report and growth prospects suggest that the stock could rebound in the near future. However, investors should closely monitor the company's performance and any potential changes in investor sentiment.





References:
[1] https://www.marketbeat.com/instant-alerts/filing-3200-shares-in-seagate-technology-holdings-plc-stx-acquired-by-retirement-planning-co-of-new-england-inc-2025-09-01/