'Seagate' CEO Maintains Significant Stake Despite Selling Shares Worth 10 Billion Won

Under a pre-established Rule 10b5-1 trading plan effective April 1, 2026, William D. Mosley, CEO of Seagate Technology Holdings plc (Nasdaq: STX), sold approximately 20,000 shares of common stock in the open market at prices between $399 and $428 per share, generating proceeds of about $8.4 million (roughly KRW 100 billion). Following this transaction, Mosley retains around 355,000 shares, maintaining a substantial ownership stake and alignment with shareholder interests.

On the same day, Seagate reported fiscal third-quarter 2026 results: revenues of $3.11 billion, GAAP diluted EPS of $3.27, and non-GAAP diluted EPS of $4.10, reflecting significant year-over-year improvements in profitability and margins. The company generated $953 million in free cash flow, deploying $641 million to debt repayment and $191 million to shareholder returns (approximately KRW 800 billion and KRW 250 billion, respectively). Seagate declared a quarterly dividend of $0.74 per share, payable July 7, 2026. For fiscal fourth-quarter 2026, the company guided to revenues of $3.45 billion ± $0.10 billion and non-GAAP diluted EPS of $5.00 ± $0.20.

On April 28, Bank of America maintained its Buy rating on STX and raised its price target from $605 to $700, driving Seagate shares up about 1.5% in U.S. trading. Other major brokerages, including Barclays and Morgan Stanley, have also raised their price targets and outlooks, underscoring broadly positive analyst sentiment.

Seagate is a global storage solutions provider specializing in high-capacity hard disk drives and data-center storage systems. Organized as an Ireland-based holding company listed on the Nasdaq, it operates worldwide, including in Singapore. To address surging data-center storage demand fueled by AI and cloud adoption, Seagate is expanding its next-generation portfolio—particularly ultra-high-capacity HAMR-based HDDs—strengthening its leadership in the large-scale storage market.