Seagate Technology (NASDAQ:STX) Stock Price Up 4.9% – Here’s Why

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) were up 4.9% on Thursday . The company traded as high as $934.77 and last traded at $921.37. Approximately 4,547,173 shares were traded during trading, an increase of 2% from the average session volume of 4,437,259 shares. The stock had previously closed at $878.21.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STX shares. China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. UBS Group raised their target price on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley increased their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Performance

The firm has a fifty day moving average of $888.94 and a 200-day moving average of $658.57. The firm has a market cap of $208.83 billion, a P/E ratio of 66.38 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business posted $2.59 EPS. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts predict that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 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 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of Seagate Technology stock in a transaction on Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the sale, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This represents a 39.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 156,289 shares of company stock worth $131,838,265 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC raised its position in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in Seagate Technology during the second quarter valued at approximately $262,000. Cerity Partners LLC increased its stake in Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after purchasing an additional 7,517 shares in the last quarter. Sei Investments Co. increased its stake in Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after purchasing an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Seagate Technology by 0.4% in 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 purchasing an additional 462 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.