Seagate Technology (NASDAQ:STX) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Seagate Technology (NASDAQ:STX) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued an overweight rating and a $525.00 target price on the data storage provider’s stock.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their price target on shares of Seagate Technology from $385.00 to $440.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, TD Cowen upped their price target on shares of Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $450.58.

Seagate Technology Price Performance

Shares of STX stock opened at $362.43 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $459.84. The company has a market cap of $79.04 billion, a P/E ratio of 41.00, a P/E/G ratio of 0.85 and a beta of 1.61. The business has a fifty day simple moving average of $398.12 and a 200 day simple moving average of $309.38.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts forecast that Seagate Technology will post 6.83 EPS for the current fiscal 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 dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.8%. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 24,584 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at approximately $152,779,151.07. This represents a 6.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. The trade was a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 113,635 shares of company stock worth $44,430,443. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Gateway Investment Advisers LLC boosted its position in shares of Seagate Technology by 1.8% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after purchasing an additional 25 shares in the last quarter. Trajan Wealth LLC increased its position in Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after buying an additional 25 shares in the last quarter. Fortis Capital Management LLC increased its position in Seagate Technology by 1.1% during the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock valued at $704,000 after buying an additional 27 shares in the last quarter. EWA LLC raised its stake in Seagate Technology by 2.1% during the fourth quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock valued at $377,000 after buying an additional 28 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its holdings in Seagate Technology by 2.7% in the fourth quarter. Icon Wealth Advisors LLC now owns 1,060 shares of the data storage provider’s stock worth $292,000 after acquiring an additional 28 shares in the last quarter. 92.87% of the stock is owned by 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.