New insider activity at Seagate Tech ( (STX) ) has taken place on February 6, 2025.
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Director William Mosley has recently divested a portion of his holdings in Seagate Tech by selling 10,802 shares. The transaction brought in a total of $1,020,902, indicating a strategic move by the director in the stock market.
Recent Updates on STX stock
Seagate Technology has made notable strides in enhancing its financial and market position, as highlighted in recent developments. The company entered into a new $1.3 billion credit agreement, which replaces its previous arrangement and provides an unsecured revolving credit facility until 2030, enhancing its financial flexibility and reinforcing market confidence. In its Q2 earnings call, Seagate reported a strong financial performance with 7% sequential revenue growth, driven by demand in the cloud sector and innovative product developments. Despite this, the company faces short-term challenges like supply constraints, which are expected to impact revenue by $200 million in the March quarter. With significant achievements in HAMR-based products and a 22% increase in non-GAAP operating income, Seagate maintains an optimistic outlook for future growth. The market has responded with a bearish sentiment, as evidenced by a high put/call ratio and increased implied volatility, reflecting investor caution amidst upcoming earnings and existing supply challenges.
More about Seagate Tech
YTD Price Performance: 9.40%
Average Trading Volume: 2,912,499
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $20.01B