Seagate Technology (NASDAQ:STX) Price Target Raised to $700.00 at Loop Capital

Seagate Technology (NASDAQ:STX) had its price target increased by Loop Capital from $465.00 to $700.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Other analysts also recently issued reports about the stock. KeyCorp set a $500.00 target price on shares of Seagate Technology in a report on Wednesday, January 28th. TD Cowen lifted their price target on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Wells Fargo & Company upped their price objective on Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Barclays raised their price objective on Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $441.70.

Seagate Technology Stock Down 1.0%

Shares of STX opened at $425.00 on Monday. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The stock has a market capitalization of $92.68 billion, a price-to-earnings ratio of 48.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.62. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $459.41. The business’s 50 day simple moving average is $323.64 and its 200-day simple moving average is $251.37.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion during 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 936.38%. Seagate Technology’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is 33.48%.

Insiders Place Their Bets

In related news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the transaction, the director owned 223 shares of the company’s stock, valued at $99,908.46. This trade represents a 80.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director owned 5,601 shares of the company’s stock, valued at $1,528,568.91. The trade was a 11.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 137,976 shares of company stock valued at $45,330,378. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Asset Planning Inc. bought a new position in Seagate Technology in the second quarter worth approximately $27,000. Salomon & Ludwin LLC lifted its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares during the period. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology during the fourth quarter valued at $28,000. Finally, Avion Wealth raised its holdings in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.