Seagate Technology (NASDAQ:STX) Given New $240.00 Price Target at Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price objective upped by Wells Fargo & Company from $160.00 to $240.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the data storage provider’s stock.

Several other equities analysts also recently weighed in on the company. Benchmark increased their target price on Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Susquehanna increased their target price on Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a research report on Wednesday, July 30th. Robert W. Baird increased their target price on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. TD Cowen raised their price objective on Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Seagate Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.89.

Seagate Technology Trading Up 2.4%

NASDAQ STX opened at $219.51 on Monday. The business’s 50-day moving average price is $192.39 and its 200 day moving average price is $142.07. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $264.83. The company has a market capitalization of $46.75 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue for the quarter 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. Equities analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were paid a $0.72 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology’s dividend payout ratio (DPR) is 42.54%.

Insiders Place Their Bets

In other news, EVP John Christopher Morris sold 377 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the sale, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. This trade represents a 3.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,210 shares of company stock valued at $14,146,016. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock worth $1,607,321,000 after acquiring an additional 2,161,191 shares in the last quarter. Norges Bank acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $197,027,000. Boston Partners acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $193,500,000. Soroban Capital Partners LP grew its position 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 worth $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock worth $79,343,000 after acquiring an additional 906,840 shares in the last quarter. Institutional investors and hedge funds 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.