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

Seagate Technology (NASDAQ:STX) had its price target hoisted by Barclays from $180.00 to $200.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the data storage provider’s stock.

Several other research analysts have also weighed in on STX. Bank of America increased their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, July 14th. BNP Paribas upgraded shares of Seagate Technology from a “strong sell” rating to a “hold” rating in a research note on Friday, May 16th. Benchmark lifted their price objective on shares of Seagate Technology from $128.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $122.00 to $160.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, Robert W. Baird lifted their price objective on shares of Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $158.11.

Seagate Technology Trading Up 2.0%

NASDAQ:STX opened at $196.81 on Thursday. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. The company’s 50-day moving average is $158.82 and its two-hundred day moving average is $120.90. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $199.24.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology announced that its board has authorized a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Seagate Technology Announces Dividend

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

Insider Activity at Seagate Technology

In other news, Director Jay L. Geldmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the sale, the director owned 352 shares of the company’s stock, valued at approximately $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 1,724 shares of Seagate Technology stock in a transaction on Monday, August 11th. The stock was sold at an average price of $151.61, for a total transaction of $261,375.64. Following the completion of the transaction, the executive vice president directly owned 6,147 shares of the company’s stock, valued at approximately $931,946.67. This represents a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,078 shares of company stock worth $8,561,503 over the last three months. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its holdings in Seagate Technology by 133.1% in the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider’s stock worth $1,094,000 after purchasing an additional 7,240 shares during the period. Personal CFO Solutions LLC bought a new stake in Seagate Technology in the first quarter valued at $223,000. Amalgamated Bank lifted its stake in Seagate Technology by 0.8% in the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock valued at $2,545,000 after buying an additional 243 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in Seagate Technology in the first quarter valued at $272,000. Finally, Alps Advisors Inc. lifted its stake in Seagate Technology by 10.2% in the first quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider’s stock valued at $23,687,000 after buying an additional 25,817 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

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.