Seagate Technology (NASDAQ:STX) Trading 1.9% Higher – Still a Buy?

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price rose 1.9% during trading on Monday . The stock traded as high as $831.64 and last traded at $802.45. 4,854,168 shares were traded during trading, an increase of 13% from the average daily volume of 4,288,059 shares. The stock had previously closed at $787.66.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on STX shares. Citigroup upped their price target on shares of Seagate Technology from $1,150.00 to $1,240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Rosenblatt Securities increased their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. TD Cowen raised their target price on Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wedbush lifted their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Twenty-two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Stock Performance

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 company’s 50-day moving average price is $887.01 and its two-hundred day moving average price is $591.62. The company has a market capitalization of $179.93 billion, a price-to-earnings ratio of 76.13 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s payout ratio is currently 28.08%.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 903 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 9,343 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total value of $8,636,856.06. Following the completion of the sale, the chief executive officer owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 151,069 shares of company stock worth $126,191,753 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Several hedge funds have recently modified their holdings of STX. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% in the fourth 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. raised its holdings 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 valued at $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter worth about $28,000. Avion Wealth grew its stake in shares of Seagate Technology by 343.5% in the 4th 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 period. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $28,000. 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.