Seagate Technology (NASDAQ:STX) Sets New 52-Week High Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price hit a new 52-week high on Monday after Morgan Stanley raised their price target on the stock from $168.00 to $265.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $233.40 and last traded at $231.60, with a volume of 558720 shares trading hands. The stock had previously closed at $217.51.

STX has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Seagate Technology from $122.00 to $160.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Barclays upped their price target on Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. UBS Group raised their price objective on Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Benchmark lifted their target price on Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $193.32.

Insider Activity

In related news, 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 transaction of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares in the company, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 5,905 shares of Seagate Technology stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the sale, the executive vice president directly owned 6,147 shares of the company’s stock, valued at approximately $952,785. The trade was a 49.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,935 shares of company stock valued at $9,396,416 in the last three months. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC boosted its holdings in shares of Seagate Technology by 35.8% during the 2nd quarter. Corient Private Wealth LLC now owns 24,583 shares of the data storage provider’s stock worth $3,548,000 after buying an additional 6,483 shares during the period. Capital A Wealth Management LLC grew its position in shares of Seagate Technology by 871.0% in the second quarter. Capital A Wealth Management LLC now owns 602 shares of the data storage provider’s stock valued at $87,000 after purchasing an additional 540 shares during the last quarter. National Wealth Management Group LLC bought a new position in shares of Seagate Technology in the second quarter worth about $568,000. Caldwell Trust Co acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $217,000. Finally, Valeo Financial Advisors LLC bought a new stake in Seagate Technology during the 2nd quarter valued at approximately $366,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 5.3%

The stock has a fifty day simple moving average of $175.83 and a 200-day simple moving average of $131.82. The stock has a market cap of $48.80 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 0.98 and a beta of 1.53.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given 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 42.54%.

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.