Seagate Technology (NASDAQ:STX) Given New $265.00 Price Target at Morgan Stanley

Seagate Technology (NASDAQ:STX) had its price objective upped by Morgan Stanley from $168.00 to $265.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the data storage provider’s stock.

STX has been the topic of a number of other research reports. Bank of America boosted their target price on Seagate Technology from $215.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Barclays boosted their price objective on Seagate Technology from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Robert W. Baird raised their target price on Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. TD Cowen boosted their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Benchmark raised their price objective on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $193.32.

Seagate Technology Price Performance

STX stock opened at $229.14 on Monday. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $234.12. The company’s 50-day moving average is $175.83 and its 200-day moving average is $131.82. The stock has a market capitalization of $48.80 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 0.98 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $1.05 EPS. Seagate Technology’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. On average, analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is presently 42.54%.

Insider Activity

In related news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The stock was 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 is accessible through the SEC website. Also, insider James Ci Lee sold 3,509 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the completion of the transaction, the insider owned 1,288 shares in the company, valued at $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,935 shares of company stock worth $9,396,416. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Seagate Technology by 12.9% during the 1st 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. Norges Bank purchased a new position in shares of Seagate Technology during the second quarter worth approximately $197,027,000. Boston Partners bought a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $193,500,000. Soroban Capital Partners LP boosted its stake in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Seagate Technology by 3,339.4% during the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after purchasing an additional 906,840 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other 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.