Seagate Technology (NASDAQ:STX) Upgraded at Zacks Research

Zacks Research upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

STX has been the topic of several other research reports. Morgan Stanley increased their target price on Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. KeyCorp set a $500.00 price target on shares of Seagate Technology in a research report on Wednesday, January 28th. China Renaissance boosted their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Sanford C. Bernstein upped their target price on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $447.35.

Seagate Technology Stock Down 3.6%

Shares of NASDAQ STX opened at $408.97 on Tuesday. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $459.84. The firm’s 50-day moving average is $345.46 and its 200-day moving average is $264.70. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The firm has a market capitalization of $89.18 billion, a PE ratio of 46.26, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Seagate Technology’s revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

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

Insider Activity

In other news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,955 shares of company stock worth $29,925,749. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Seagate Technology by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after buying an additional 442,749 shares during the period. State Street Corp raised its holdings in shares of Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley boosted its stake in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. WCM Investment Management LLC bought a new stake in Seagate Technology during the 3rd quarter worth approximately $1,187,621,000. Finally, Geode Capital Management LLC increased its position in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares during the period. 92.87% of the stock is owned by institutional investors.

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.