Movement Alert｜Seagate Technology PLC Falls 4.16% in After-Hours Trading, Storage Sector Faces Broad Selloff as Profit-Taking Intensifies

Market Focus08-06 04:07

On August 6, Seagate Technology PLC fell 4.16% in after-hours trading, trading at approximately $796.08 per share, with turnover of $37.83 million. The decline came amid a sector-wide rout in storage stocks, with Western Digital plunging over 10% and SanDisk dropping over 8%.

The selloff reflects concentrated profit-taking following a rapid rally. Since reporting Q4 earnings on July 28, Seagate had surged over 20% through early August, driven by revenue of $3.63 billion (up 48% year-over-year), record gross margins of 52.7%, and multiple investment banks raising price targets. The sharp prior gains left the stock vulnerable to a correction as sector sentiment reversed.

Adding to near-term pressure, SEC filings revealed that CEO William D. Mosley sold approximately 35,842 shares through pre-arranged Rule 10b5-1 plans on August 3, with transaction prices ranging from $783.83 to $837.99. While such sales are pre-planned, executive dispositions at elevated price levels can weigh on market sentiment.

(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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