Movement Alert｜Seagate Technology PLC Falls 3.41% in Pre-Market Trading, Storage Sector Sell-Off on SanDisk Guidance Miss Compounded by CEO Share Reduction

Market Focus08-06 16:11

On August 6, Seagate Technology PLC fell 3.41% in pre-market trading, trading at 807.1 USD/share, with turnover of 163.25万美元.

On the news front, the storage sector faced broad-based selling pressure after SanDisk reported quarterly guidance below market expectations, triggering a sector-wide rout. Peer Western Digital plunged over 14% and SanDisk dropped over 9%, dragging Seagate lower through sector linkage. Additionally, CEO William D. Mosley on August 3 reduced approximately 35,842 shares of common stock through a pre-established Rule 10b5-1 trading plan at prices ranging from $783 to $838, adding near-term sentiment pressure.

The current pullback follows a surge of over 20% since July 30, driven by Q4 earnings that beat expectations — revenue of $3.63 billion rose 48% year-over-year with gross margin hitting a record 52.7% — and collective target price upgrades from Citi, JPMorgan, Barclays, and BNP Paribas. The retreat reflects concentrated profit-taking after the rapid advance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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