Seagate Technology (NASDAQ:STX) Price Target Raised to $320.00

Seagate Technology (NASDAQ:STX) had its target price upped by Bank of America from $275.00 to $320.00 in a report issued on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the data storage provider’s stock.

Other research analysts also recently issued reports about the stock. Sanford C. Bernstein increased their price target on shares of Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Evercore ISI upped their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Barclays raised their target price on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. BNP Paribas Exane cut their price target on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, TD Cowen raised their price objective on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $283.41.

Seagate Technology Stock Performance

STX stock opened at $237.49 on Thursday. The company has a market cap of $50.72 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 1.17 and a beta of 1.63. The business’s 50-day moving average is $239.75 and its two-hundred day moving average is $176.67. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $297.88.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $1.58 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Equities analysts predict that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.2%. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the sale, the executive vice president owned 9,843 shares in the company, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 131,261 shares of company stock worth $34,210,708 in the last quarter. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in shares of Seagate Technology during the third quarter valued at about $6,923,000. Centaurus Financial Inc. bought a new position in Seagate Technology during the third quarter valued at approximately $309,000. Asset Dedication LLC grew its holdings in Seagate Technology by 6.2% during the 3rd quarter. Asset Dedication LLC now owns 859 shares of the data storage provider’s stock valued at $203,000 after buying an additional 50 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Seagate Technology by 11.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,395 shares of the data storage provider’s stock worth $329,000 after acquiring an additional 142 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Seagate Technology by 23.5% during the 3rd quarter. Captrust Financial Advisors now owns 32,297 shares of the data storage provider’s stock worth $7,624,000 after acquiring an additional 6,138 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.