Brokerages Set Seagate Technology Holdings PLC (NASDAQ:STX) Price Target at $986.00

Seagate Technology Holdings PLC (NASDAQ:STX) has earned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $986.00.

A number of equities analysts have issued reports on STX shares. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Citigroup upped their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Bank of America increased their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a research note on Wednesday, July 29th. Finally, Argus upped their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 30th.

Insider Buying and Selling

In related news, EVP John Morris sold 15,466 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the transaction, the executive vice president owned 31,132 shares in the company, valued at approximately $24,038,573.80. The trade was a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mosley sold 97,889 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer directly owned 378,108 shares of the company’s stock, valued at $291,952,311.12. The trade was a 20.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 457,605 shares of company stock valued at $370,403,041. Insiders own 0.51% of the company’s stock.

Institutional Trading of Seagate Technology

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Seagate Technology by 8.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after purchasing an additional 243,551 shares during the period. Wellington Management Group LLP raised its position in shares of Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after purchasing an additional 2,326,538 shares during the period. Norges Bank bought a new position in shares of Seagate Technology during the 4th quarter valued at about $498,363,000. Finally, Deutsche Bank AG lifted its holdings in shares of Seagate Technology by 102.0% during the 4th quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $877.33 on Friday. Seagate Technology has a 1 year low of $209.00 and a 1 year high of $1,145.00. The firm’s 50 day moving average is $842.44 and its 200-day moving average is $745.49. The firm has a market capitalization of $199.50 billion, a price-to-earnings ratio of 63.21 and a beta of 2.06. 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 for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business posted $2.59 earnings per share. Seagate Technology’s revenue for the quarter 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. Sell-side analysts forecast that Seagate Technology will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.