Citigroup Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target upped by Citigroup from $167.00 to $215.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna increased their price objective on Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price target on Seagate Technology from $167.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Benchmark increased their price objective on Seagate Technology from $128.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Seagate Technology in a research note on Thursday, July 10th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, BNP Paribas Exane upgraded shares of Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 price target for the company in a report on Friday, May 16th. Fourteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Seagate Technology Stock Up 0.6%

Shares of Seagate Technology stock opened at $189.24 on Monday. The business has a 50 day moving average price of $156.12 and a 200-day moving average price of $119.22. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $191.52. The company has a market cap of $40.25 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, research analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio is presently 42.54%.

Seagate Technology announced that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Seagate Technology

In related news, insider James Ci Lee sold 3,509 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the sale, the insider directly owned 1,288 shares of the company’s stock, valued at $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the transaction, the chief executive officer owned 478,912 shares of the company’s stock, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,078 shares of company stock worth $8,561,503 over the last quarter. Insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently modified their holdings of the stock. Salvus Wealth Management LLC raised its holdings in Seagate Technology by 2.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider’s stock worth $493,000 after purchasing an additional 68 shares during the period. Asset Dedication LLC grew its holdings in Seagate Technology by 9.5% during the 2nd quarter. Asset Dedication LLC now owns 809 shares of the data storage provider’s stock valued at $117,000 after buying an additional 70 shares in the last quarter. GoalVest Advisory LLC increased its holdings in Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 75 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Seagate Technology by 2.2% in the second quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider’s stock worth $503,000 after purchasing an additional 76 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Seagate Technology by 3.3% during the 2nd quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider’s stock worth $361,000 after acquiring an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.