Seagate Technology (NASDAQ:STX) Shares Up 7% – What’s Next?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) traded up 7% during trading on Wednesday . The stock traded as high as $892.00 and last traded at $878.21. 4,699,661 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 4,433,304 shares. The stock had previously closed at $820.52.

More Seagate Technology News

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

• Positive Sentiment: Seagate has quietly become a leading AI-storage beneficiary, with demand for mass-capacity drives helping its shares rise roughly 445% over the past year. Hyperscalers’ need to store AI-generated data could support additional growth. Prediction: This Storage Stock Could Be a Surprising AI Winner
• Positive Sentiment: Analysts point to Seagate’s strong fiscal 2026 finish, margin expansion and rising cash flow as potential support for further fiscal 2027 growth. The company’s latest quarter also exceeded earnings and revenue expectations, while management issued quarterly EPS guidance of $7.10-$7.50. Is Seagate’s Strong Margin and Cash Flow Momentum Sustainable?
• Positive Sentiment: Seagate’s nearline mass-capacity segment is benefiting from data-center expansion, multi-year capacity agreements and disciplined supply. Its build-to-order model, reported 52.7% non-GAAP gross margin and HAMR density gains could reinforce pricing power, with capacity reportedly allocated substantially through 2027. Seagate Technology: AI Runs On Disks Nobody Else Wants To Make
• Neutral Sentiment: Reported short interest was zero shares, suggesting no measurable short-covering catalyst; the data may reflect a reporting anomaly.
• Negative Sentiment: CFO Gianluca Romano sold shares in several transactions totaling more than $17 million. The sales reduced his direct holdings, although they were executed under a pre-arranged Rule 10b5-1 trading plan and therefore do not necessarily signal weakening company prospects. SEC insider transaction filing

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STX shares. The Goldman Sachs Group lifted their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Barclays increased their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Melius Research assumed coverage on Seagate Technology in a report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target on the stock. BNP Paribas Exane upped their price objective on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Citigroup increased their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Price Performance

The company has a market cap of $199.05 billion, a price-to-earnings ratio of 63.27 and a beta of 2.06. The company’s 50 day moving average price is $890.19 and its 200 day moving average price is $654.82. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

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

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s payout ratio is presently 21.33%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology 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 completion of the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% 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. In the last three months, insiders sold 164,292 shares of company stock valued at $138,378,957. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in the stock. PFA Pension Forsikringsaktieselskab purchased a new stake in Seagate Technology during the 4th quarter worth $23,882,000. New York State Teachers Retirement System boosted its position in Seagate Technology by 5.0% in the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after buying an additional 8,991 shares during the last quarter. Praxis Investment Management Inc. grew its stake in shares of Seagate Technology by 56.5% during the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock valued at $1,822,000 after acquiring an additional 2,389 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after acquiring an additional 10,190 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in shares of Seagate Technology by 25.3% in the fourth quarter. Caprock Group LLC now owns 18,248 shares of the data storage provider’s stock worth $5,043,000 after acquiring an additional 3,680 shares in the last quarter. Hedge funds and other 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.