Seagate Technology (NASDAQ:STX) Reaches New 12-Month High Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high during trading on Thursday after Benchmark raised their price target on the stock from $250.00 to $255.00. Benchmark currently has a buy rating on the stock. Seagate Technology traded as high as $268.91 and last traded at $265.62, with a volume of 9888366 shares. The stock had previously closed at $223.00.

STX has been the subject of a number of other research reports. Citigroup lifted their target price on Seagate Technology from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley lifted their target price on Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group reduced their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Seagate Technology in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein set a $275.00 price target on Seagate Technology and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 in the company, valued at approximately $121,368,433.20. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider owned 257 shares of the company’s stock, valued at $39,413.52. The trade was a 81.28% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 72,111 shares of company stock valued at $13,921,073. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the business. First Horizon Corp purchased a new position in shares of Seagate Technology during the third quarter valued at approximately $33,000. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $27,000. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% during the second 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 period. MTM Investment Management LLC purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $29,000. Finally, True Wealth Design LLC increased its stake in shares of Seagate Technology by 665.7% during the third quarter. True Wealth Design LLC now owns 268 shares of the data storage provider’s stock valued at $63,000 after buying an additional 233 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

The stock has a market capitalization of $56.57 billion, a PE ratio of 34.10, a PEG ratio of 0.98 and a beta of 1.63. The company has a 50 day moving average price of $209.57 and a 200-day moving average price of $154.82.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.21. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a negative return on equity of 229.36% and a net margin of 17.92%.The business’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 earnings per share. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 1.1%. Seagate Technology’s payout ratio is currently 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.