Movement Alert｜Seagate Technology PLC Falls 6.71% in Regular Trading, Storage Sector Hammered by Broad Selloff and CEO Share Sale Disclosed

Market Focus08-06 21:31

On August 6, Seagate Technology PLC fell 6.71% in regular trading, trading at approximately $773.56/share, with turnover of $179 million.

On the news front, the storage sector experienced a systemic selloff, with peer Western Digital plunging over 20% and SanDisk dropping more than 11%, dragging down Seagate significantly. Additionally, CEO William D. Mosley disclosed selling approximately 35,842 shares of common stock on August 3 through a pre-established Rule 10b5-1 trading plan, with transaction prices ranging from approximately $783 to $838 per share, adding short-term sentiment pressure.

Seagate had previously surged over 20% from July 30 following a strong Q4 earnings report showing revenue of $3.629 billion (up 48% year-over-year), adjusted EPS of $5.71 (up 120%), and a record gross margin of 52.7%. Multiple investment banks including Citi, JPMorgan, Barclays, and BNP Paribas had collectively raised target prices. The current pullback represents concentrated profit-taking after the sharp prior rally.

(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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