On September 28, Seagate Technology PLC fell 3.58% in regular trading, trading at $882.48/share, with turnover of approximately $390 million.

On the news front, reports emerged that SK Hynix's U.S. subsidiary Solidigm is considering a U.S. IPO as early as next year at a valuation of up to $100 billion, sparking concerns over intensifying competition in the storage industry. Storage stocks declined broadly, with SK Hynix and SanDisk each falling over 3.6% and Western Digital down 2.8%.

Adding to the pressure, Seagate executives have conducted intensive share sales in recent weeks. CEO William Mosley sold approximately 97,889 shares, CFO Gianluca Romano sold approximately 49,984 shares, and EVP Teh Ban Seng sold approximately 28,350 shares, totaling over $160 million in market value. These transactions were primarily tied to tax withholding obligations following performance share unit vestings, though the scale has weighed on market sentiment.

Hawkish Federal Reserve signals also pushed U.S. Treasury yields higher, broadly pressuring the technology sector. Within the Technology Hardware, Storage & Peripherals sector, SanDisk fell 5.07%, Western Digital fell 4.56%, Dell Technologies fell 4.20%, and Super Micro Computer fell 3.78%.

(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.)