Seagate Technology (NASDAQ:STX) Hits New 52-Week High on Earnings Beat

Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $383.88 and last traded at $371.76, with a volume of 7080492 shares changing hands. The stock had previously closed at $358.29.

The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 462.62%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s payout ratio is 38.00%.

Key Headlines Impacting Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Q2 results beat expectations — EPS $3.11 and revenue $2.83B, with record gross and operating margins; management raised Q3 EPS and revenue guidance, underpinning the rally. Seagate Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Management says demand is surging on AI-related storage needs and the company is effectively “sold out” through 2026, implying strong near-term revenue visibility and pricing power. Seagate Is Sold Out Through 2026, CEO Says
• Positive Sentiment: Multiple analysts bumped price targets and issued upgrades following the results; several shops (Cantor, Rosenblatt, TD Cowen) raised targets to $500, adding upward analyst momentum. Analyst Coverage & Price Target Moves
• Positive Sentiment: Market reaction: STX hit record highs and topped the S&P 500 performance amid the earnings/guidance news and analyst praise. Seagate surge tops S&P 500
• Neutral Sentiment: Seagate declared a $0.74 quarterly dividend (record March 25 / pay April 8) — modest yield that supports income-minded holders but is not a major valuation driver.
• Neutral Sentiment: Some firms raised targets but maintained neutral/equal-weight ratings (Wells Fargo, Barclays, UBS), reflecting a mix of enthusiasm for demand and caution about near-term valuation. Analyst Updates
• Negative Sentiment: Not all price targets moved above the current price — a few post-earnings targets (e.g., GS/UBS at ~385) remain below the market, highlighting divergent analyst views and potential downside if sentiment cools. Analyst Target Notes
• Negative Sentiment: Some coverage notes short-term “cooling off”/profit-taking after the sharp run-up, so momentum-dependent traders face volatility risk even with strong fundamentals. Seagate cools off despite strong Q2

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent research reports. Mizuho boosted their target price on Seagate Technology from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley lifted their price target on shares of Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Finally, Rosenblatt Securities boosted their price target on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $392.35.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the sale, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at $122,760,816.20. This trade represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ban Seng Teh sold 1,412 shares of Seagate Technology stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $299.31, for a total value of $422,625.72. Following the completion of the sale, the executive vice president owned 13,693 shares in the company, valued at approximately $4,098,451.83. This represents a 9.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 125,479 shares of company stock worth $34,921,586. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the company. Diversified Enterprises LLC bought a new position in Seagate Technology in the fourth quarter worth $227,000. Turtle Creek Wealth Advisors LLC grew its position in shares of Seagate Technology by 19.0% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 1,257 shares of the data storage provider’s stock worth $346,000 after buying an additional 201 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Seagate Technology by 293.8% in the 4th quarter. Teacher Retirement System of Texas now owns 135,737 shares of the data storage provider’s stock worth $37,381,000 after acquiring an additional 101,266 shares in the last quarter. EPG Wealth Management LLC lifted its position in Seagate Technology by 8.4% during the 4th quarter. EPG Wealth Management LLC now owns 11,157 shares of the data storage provider’s stock valued at $3,072,000 after acquiring an additional 867 shares during the period. Finally, HB Wealth Management LLC boosted its stake in Seagate Technology by 14.7% during the fourth quarter. HB Wealth Management LLC now owns 5,338 shares of the data storage provider’s stock worth $1,470,000 after acquiring an additional 686 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

The firm has a market cap of $94.59 billion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. The firm’s 50 day moving average is $297.13 and its 200 day moving average is $235.15.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.