Seagate Technology (NASDAQ:STX) Given New $255.00 Price Target at Bank of America

Seagate Technology (NASDAQ:STX) had its price target increased by Bank of America from $215.00 to $255.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the data storage provider’s stock.

Several other research analysts also recently commented on STX. Sanford C. Bernstein initiated coverage on shares of Seagate Technology in a research note on Tuesday, September 16th. They issued an “outperform” rating and a $250.00 target price on the stock. UBS Group boosted their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Robert W. Baird boosted their price objective on shares of Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Citigroup boosted their price objective on shares of Seagate Technology from $167.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Wall Street Zen downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.58.

Seagate Technology Stock Down 1.9%

Shares of NASDAQ STX opened at $223.70 on Wednesday. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $231.96. The firm’s fifty day moving average is $171.41 and its 200 day moving average is $128.39. The company has a market cap of $47.64 billion, a price-to-earnings ratio of 33.04, a PEG ratio of 1.32 and a beta of 1.53.

Seagate Technology (NASDAQ:STX) last issued 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 30th. Seagate Technology’s payout ratio is 42.54%.

Insider Activity

In other news, EVP John Christopher Morris sold 377 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total transaction of $79,645.02. Following the sale, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. The trade was a 2.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the sale, the chief executive officer owned 478,912 shares in the company, 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. In the last quarter, insiders have sold 75,935 shares of company stock worth $12,289,616. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. Ameriflex Group Inc. bought a new position in Seagate Technology in the 4th quarter worth about $26,000. Harbor Asset Planning Inc. bought a new position in Seagate Technology in the 2nd quarter worth about $27,000. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC bought a new position in Seagate Technology in the 2nd quarter worth about $29,000. Finally, Wayfinding Financial LLC bought a new position in Seagate Technology in the 1st quarter worth about $31,000. 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.