Seagate Technology (NASDAQ:STX) Now Covered by Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Seagate Technology (NASDAQ:STX) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $250.00 price objective on the data storage provider’s stock.

A number of other research analysts have also recently commented on the stock. TD Cowen raised their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Barclays boosted their price target on Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. The Goldman Sachs Group began coverage on Seagate Technology in a research note on Thursday, July 10th. They set a “buy” rating and a $170.00 price objective for the company. Robert W. Baird boosted their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.58.

Seagate Technology Trading Up 0.0%

Shares of STX stock opened at $211.13 on Tuesday. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $215.20. The company has a market capitalization of $44.96 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.30 and a beta of 1.53. The stock has a 50 day moving average of $162.34 and a two-hundred day moving average of $123.24.

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

Seagate Technology announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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 issued a $0.72 dividend. 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 1.4%. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the sale, the chief executive officer owned 478,912 shares in the company, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay L. Geldmacher sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the transaction, the director owned 352 shares in the company, valued at approximately $52,976. This represents a 87.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,558 shares of company stock worth $12,209,971. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the period. JPMorgan Chase & Co. increased its holdings in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. State Street Corp lifted its stake in Seagate Technology by 5.0% in the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock valued at $1,305,499,000 after buying an additional 432,455 shares during the period. Geode Capital Management LLC boosted its holdings in Seagate Technology by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after buying an additional 85,660 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Seagate Technology by 3.6% during the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock worth $243,077,000 after buying an additional 99,884 shares during the period. 92.87% of the stock is owned by institutional investors.

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.