Seagate Technology (NASDAQ:STX) Reaches New 12-Month High – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX) shares hit a new 52-week high on Monday . The stock traded as high as $162.66 and last traded at $163.26, with a volume of 337961 shares trading hands. The stock had previously closed at $159.21.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Seagate Technology from $167.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Susquehanna upped their price target on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a “negative” rating in a research report on Wednesday, July 30th. Bank of America upped their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Wall Street Zen cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Cantor Fitzgerald raised shares of Seagate Technology from a “neutral” rating to an “overweight” rating and set a $175.00 price target on the stock in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.44.

Seagate Technology Trading Up 3.8%

The firm has a market capitalization of $35.14 billion, a PE ratio of 24.41, a PEG ratio of 0.98 and a beta of 1.50. The firm’s fifty day moving average price is $147.68 and its 200 day moving average price is $113.58.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s payout ratio is currently 42.54%.

Seagate Technology announced that its board has approved a share repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Seagate Technology news, Director Michael R. Cannon sold 24,190 shares of Seagate Technology stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $119.00, for a total value of $2,878,610.00. Following the sale, the director directly owned 10,835 shares in the company, valued at approximately $1,289,365. The trade was a 69.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gianluca Romano sold 26,816 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $117.58, for a total transaction of $3,153,025.28. Following the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. This represents a 41.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 343,414 shares of company stock valued at $43,661,770. 0.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology during the 4th quarter worth approximately $26,000. Elequin Capital LP acquired a new stake in Seagate Technology in the fourth quarter worth $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology in the fourth quarter valued at $27,000. Harbor Asset Planning Inc. bought a new position in shares of Seagate Technology during the second quarter valued at about $27,000. Finally, Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.