Seagate Technology (NASDAQ:STX) Trading Up 5.7% After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price shot up 5.7% during mid-day trading on Thursday after Loop Capital raised their price target on the stock from $200.00 to $350.00. Loop Capital currently has a buy rating on the stock. Seagate Technology traded as high as $231.35 and last traded at $231.82. 2,470,787 shares were traded during trading, a decline of 38% from the average session volume of 3,988,881 shares. The stock had previously closed at $219.38.

STX has been the topic of a number of other reports. Wedbush upped their target price on shares of Seagate Technology from $175.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. Sanford C. Bernstein began coverage on shares of Seagate Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $250.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Susquehanna upped their target price 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, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.65.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 1,410 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $225.56, for a total transaction of $318,039.60. Following the sale, the executive vice president directly owned 18,041 shares of the company’s stock, valued at approximately $4,069,327.96. This represents a 7.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction dated 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 directly owned 13,238 shares in the company, valued at $2,796,659.88. This trade represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,620 shares of company stock worth $14,464,056 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of STX. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. MTM Investment Management LLC bought a new position in Seagate Technology during the 2nd quarter valued at about $29,000. Wayfinding Financial LLC bought a new position in Seagate Technology during the 1st quarter valued at about $31,000. Finally, Golden State Wealth Management LLC lifted its stake in Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 440 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 3.0%

The firm has a market cap of $48.14 billion, a P/E ratio of 33.39, a PEG ratio of 0.98 and a beta of 1.63. The company’s 50 day simple moving average is $196.59 and its 200-day simple moving average is $144.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data 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 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 quarter in the prior year, the business earned $1.05 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

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

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.