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.)