Seagate Technology (NASDAQ:STX) Shares Up 1.5% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price rose 1.5% during mid-day trading on Monday . The company traded as high as $749.00 and last traded at $738.1740. Approximately 5,983,764 shares traded hands during trading, an increase of 42% from the average daily volume of 4,225,542 shares. The stock had previously closed at $726.93.

Key Stories Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate reported a very strong fiscal quarter that beat Wall Street on revenue and EPS, which is the fundamental driver behind the recent rally. Why Seagate Stock Skyrocketed This Week
• Positive Sentiment: Analysts and models are revising earnings estimates higher for STX, supporting near-term upside as forecasts and sentiment adjust to stronger results. Earnings Estimates Moving Higher for Seagate (STX): Time to Buy?
• Positive Sentiment: Seagate was added to Zacks’ Rank #1 (Strong Buy) momentum list, which can attract short-term momentum flows and trading interest. Best Momentum Stock to Buy for May 4th
• Positive Sentiment: Multiple articles highlight improving analyst sentiment and growth case for Seagate as AI/data-center demand supports mass-capacity storage makers. Forecast: Analysts Think Seagate Technology Holdings plc’s Business Prospects Have Improved Drastically
• Neutral Sentiment: Positive press pieces on long-term returns and growth attributes boost investor interest but are less directly catalytic than earnings or estimate changes. Here’s How Much a $1000 Investment in Seagate Made 10 Years Ago Would Be Worth Today
• Neutral Sentiment: Management will present at upcoming investor conferences (J.P. Morgan, TD Cowen), which gives investors more chances for guidance/visibility but is routine. Seagate to Participate in Upcoming Investor Events
• Negative Sentiment: Not all commentators are bullish: Jim Cramer warned stocks like Seagate look “overextended,” a caution that could prompt profit-taking or increased volatility despite strong fundamentals. Jim Cramer Says Stocks Like Seagate “Are Really Overextended” For Him

Analyst Upgrades and Downgrades

STX has been the subject of a number of research analyst reports. Sanford C. Bernstein boosted their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Evercore boosted their target price on shares of Seagate Technology from $550.00 to $750.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. China Renaissance boosted their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Finally, Cantor Fitzgerald increased their price target on Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $709.13.

Seagate Technology Price Performance

The company’s 50-day moving average is $454.23 and its two-hundred day moving average is $358.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market cap of $165.52 billion, a P/E ratio of 70.04 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company’s quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is presently 28.08%.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 24,584 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer owned 375,591 shares of the company’s stock, valued at approximately $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The SEC filing for this sale provides additional information. Insiders sold 70,430 shares of company stock valued at $28,544,576 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Seagate Technology by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 243,641 shares of the data storage provider’s stock valued at $95,449,000 after acquiring an additional 743 shares during the last quarter. Chicago Partners Investment Group LLC raised its holdings in Seagate Technology by 18.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,677 shares of the data storage provider’s stock valued at $1,049,000 after buying an additional 408 shares during the last quarter. Procyon Advisors LLC bought a new position in Seagate Technology in the 1st quarter valued at approximately $2,585,000. Global Assets Advisory LLC bought a new position in Seagate Technology in the 1st quarter valued at approximately $103,000. Finally, International Assets Investment Management LLC raised its holdings in Seagate Technology by 11.4% in the 1st quarter. International Assets Investment Management LLC now owns 1,399 shares of the data storage provider’s stock valued at $592,000 after buying an additional 143 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Company Profile

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.