Seagate Technology (NASDAQ:STX) Price Target Raised to $600.00 at JPMorgan Chase & Co.

Seagate Technology (NASDAQ:STX) had its price target raised by JPMorgan Chase & Co. from $525.00 to $600.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the data storage provider’s stock.

Several other equities analysts have also issued reports on STX. Bank of America raised their price objective on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. Robert W. Baird upped their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Loop Capital increased their target price on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Wedbush increased their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $494.13.

Seagate Technology Stock Performance

Shares of STX stock opened at $531.81 on Thursday. The stock’s 50-day moving average is $420.17 and its two-hundred day moving average is $331.52. The firm has a market cap of $115.97 billion, a price-to-earnings ratio of 60.16, a PEG ratio of 1.13 and a beta of 1.61. Seagate Technology has a 1 year low of $72.62 and a 1 year high of $534.23. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

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

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.74 per share. The ex-dividend date was Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.6%. Seagate Technology’s dividend payout ratio is 33.48%.

Insider Activity

In related news, CEO William D. Mosley sold 24,584 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares of the company’s stock, valued at $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,223 shares of company stock valued at $46,711,217 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology during the fourth quarter worth about $28,000. Concord Wealth Partners purchased a new position in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth raised its holdings in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Quarry LP purchased a new position in Seagate Technology during the fourth quarter worth about $31,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.