Seagate Technology (NASDAQ:STX) Stock Price Up 6.6% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price rose 6.6% during trading on Monday . The company traded as high as $841.31 and last traded at $834.01. Approximately 5,839,541 shares were traded during trading, an increase of 36% from the average daily volume of 4,299,941 shares. The stock had previously closed at $782.64.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Evercore raised its price target on Seagate Technology Holdings PLC (STX) to $1,000 and reiterated an outperform rating, signaling additional upside after an investor meeting focused on HAMR growth and AI-related storage demand. Seagate gets new $1,000 price target at Evercore after investor meeting
• Positive Sentiment: Another Evercore note also lifted the target to $1,000, highlighting HAMR technology as a key growth driver and reinforcing the bullish view on Seagate’s earnings power. Evercore ISI raises its Seagate stock price target to $1,000. HAMR technology growth is the major trigger
• Positive Sentiment: Seagate’s strong fiscal Q3 results and rising AI infrastructure optimism continue to support the stock, with reports noting record margins and about $1 billion in free cash flow. A Look At Seagate Technology Holdings (STX) Valuation After Strong Q3 Results And Growing AI Infrastructure Optimism
• Neutral Sentiment: Several articles highlighted Seagate’s long-term stock performance and market-cap growth, reflecting strong investor momentum but not adding new operating news. If You Invested $1000 In Seagate Technology Hldgs Stock 20 Years Ago, You Would Have This Much Today

Wall Street Analysts Forecast Growth

STX has been the topic of a number of recent analyst reports. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Bank of America boosted their target price on Seagate Technology from $700.00 to $840.00 and gave the company a “buy” rating in a research note on Monday, April 27th. BNP Paribas Exane boosted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Barclays boosted their target price on Seagate Technology from $625.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $719.54.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The company has a market capitalization of $183.27 billion, a P/E ratio of 77.55 and a beta of 1.98. The business has a 50 day moving average of $508.89 and a 200-day moving average of $386.39.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Activity at Seagate Technology

In related news, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the sale, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the sale, the director owned 10,664 shares in the company, valued at approximately $8,175,129.04. The trade was a 12.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,723 shares of company stock worth $53,301,684 in the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its position in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after buying an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Seagate Technology during the second quarter worth about $262,000. Cerity Partners LLC grew its position in Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after buying an additional 7,517 shares in the last quarter. Sei Investments Co. grew its position in Seagate Technology by 64.8% during the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after buying an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Seagate Technology by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after buying an additional 462 shares in 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.