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

Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $767.00 to $1,035.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $998.07 and last traded at $1,021.5420, with a volume of 147215 shares trading hands. The stock had previously closed at $931.04.

A number of other brokerages have also issued reports on STX. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Argus lifted their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company boosted their price objective on Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Loop Capital upped their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Mizuho increased their target price on Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $831.79.

Insider Activity

In other news, Director Shankar Arumugavelu sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total transaction of $927,680.00. Following the completion of the transaction, the director directly owned 6,626 shares of the company’s stock, valued at approximately $6,146,807.68. This represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 663 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $821.86, for a total value of $544,893.18. Following the transaction, the executive vice president owned 4,290 shares of the company’s stock, valued at approximately $3,525,779.40. The trade was a 13.39% decrease in their ownership of the stock. 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 have sold 160,629 shares of company stock valued at $112,739,671 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bridgewater Advisors Inc. lifted its holdings in Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after acquiring an additional 13 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in Seagate Technology by 2.1% during the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC boosted its holdings in Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 19 shares in the last quarter. Finally, WealthCollab LLC grew its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

The company has a fifty day simple moving average of $709.54 and a 200-day simple moving average of $477.38. The company has a market cap of $228.86 billion, a P/E ratio of 96.29 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s revenue was up 44.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 EPS. 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 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

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.