Seagate Technology (NASDAQ:STX) Price Target Raised to $475.00

Seagate Technology (NASDAQ:STX) had its price target increased by Mizuho from $440.00 to $475.00 in a research report report published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the data storage provider’s stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Robert W. Baird lifted their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Rosenblatt Securities boosted their price objective on Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Wedbush upped their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Benchmark increased their price target on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Price Performance

STX stock opened at $408.97 on Tuesday. The company has a market capitalization of $89.18 billion, a PE ratio of 46.26, a P/E/G ratio of 0.95 and a beta of 1.62. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The business’s fifty day moving average price is $345.46 and its 200 day moving average price is $264.70.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $429.27, for a total value of $8,585,400.00. Following the completion of the transaction, the chief executive officer owned 410,056 shares of the company’s stock, valued at $176,024,739.12. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the transaction, the director owned 5,601 shares of the company’s stock, valued at $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 83,955 shares of company stock worth $29,925,749 over the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. National Pension Service grew its holdings in shares of Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after acquiring an additional 54,722 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Seagate Technology in the second quarter worth approximately $173,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Seagate Technology during the third quarter valued at approximately $1,864,000. Nordea Investment Management AB raised its position in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its stake in Seagate Technology by 185.8% in the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after acquiring an additional 12,178 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.