Seagate Technology (NASDAQ:STX) Upgraded at Zacks Research

Zacks Research upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on STX. Weiss Ratings reissued a “buy (b-)” rating on shares of Seagate Technology in a research report on Saturday, September 27th. Morgan Stanley lifted their price target on shares of Seagate Technology from $168.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. UBS Group lifted their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Susquehanna lifted their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a research report on Wednesday, July 30th. Finally, Benchmark lifted their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $193.32.

Seagate Technology Stock Performance

Shares of STX stock opened at $252.79 on Thursday. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $264.83. The stock has a market cap of $53.84 billion, a PE ratio of 37.34, a PEG ratio of 1.13 and a beta of 1.63. The firm’s 50 day moving average price is $183.78 and its two-hundred day moving average price is $135.99.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $1.05 earnings per share. The business’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. As a group, sell-side analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed 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 1.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s payout ratio is currently 42.54%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total value of $4,998,000.00. Following the sale, the chief executive officer directly owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. The trade was a 3.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Ci Lee sold 1,116 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares in the company, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock worth $14,394,416 in the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Harbor Asset Planning Inc. acquired a new stake in Seagate Technology in the 2nd quarter valued at $27,000. Rakuten Securities Inc. increased 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 valued at $27,000 after buying an additional 168 shares during the last quarter. MTM Investment Management LLC acquired a new stake in Seagate Technology in the 2nd quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in Seagate Technology in the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC increased its stake in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after buying an additional 440 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.