Seagate Technology (NASDAQ:STX) Sets New 1-Year High After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high during mid-day trading on Monday after Morgan Stanley raised their price target on the stock from $468.00 to $582.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $470.23 and last traded at $461.7830, with a volume of 1411463 shares trading hands. The stock had previously closed at $429.36.

A number of other research firms have also weighed in on STX. Wells Fargo & Company upped their target price on Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. TD Cowen lifted their price target on Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Susquehanna upgraded Seagate Technology from a “negative” rating to a “neutral” rating and upped their price objective for the stock from $150.00 to $280.00 in a research note on Friday, January 16th. Bank of America lifted their target price on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup boosted their target price on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $469.75.

Insider Activity

In related news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total value of $8,414,600.00. Following the completion of the sale, the chief executive officer directly owned 355,591 shares of the company’s stock, valued at approximately $149,607,801.43. This represents a 5.32% 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. In the last 90 days, insiders have sold 113,635 shares of company stock worth $47,133,843. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology during the fourth quarter worth $28,000. Avion Wealth grew its holdings in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in shares of Seagate Technology during the fourth quarter valued at $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

The stock has a market capitalization of $100.88 billion, a price-to-earnings ratio of 52.29, a P/E/G ratio of 0.95 and a beta of 1.61. 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 firm has a 50-day moving average of $404.33 and a 200-day moving average of $315.31.

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

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a yield of 0.6%. Seagate Technology’s dividend payout ratio is currently 33.48%.

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.