Seagate Technology (NASDAQ:STX) Reaches New 52-Week High After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $167.00 to $215.00. Citigroup currently has a buy rating on the stock. Seagate Technology traded as high as $191.52 and last traded at $189.24, with a volume of 4007775 shares changing hands. The stock had previously closed at $188.16.

Other equities analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Seagate Technology from $167.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. BNP Paribas raised shares of Seagate Technology from a “strong sell” rating to a “hold” rating in a research note on Friday, May 16th. Benchmark raised their price target on shares of Seagate Technology from $128.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Wall Street Zen downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Barclays raised their price target on shares of Seagate Technology from $125.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 28th. Fourteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 5,905 shares of Seagate Technology stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $155.00, for a total transaction of $915,275.00. Following the transaction, the executive vice president directly owned 6,147 shares of the company’s stock, valued at $952,785. The trade was a 49.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director directly owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,078 shares of company stock valued at $8,561,503 over the last three months. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently bought and sold shares of the company. Salvus Wealth Management LLC raised its stake in Seagate Technology by 2.0% during the second quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider’s stock worth $493,000 after purchasing an additional 68 shares during the period. Asset Dedication LLC raised its stake in Seagate Technology by 9.5% during the second quarter. Asset Dedication LLC now owns 809 shares of the data storage provider’s stock worth $117,000 after purchasing an additional 70 shares during the period. GoalVest Advisory LLC raised its stake in Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 75 shares during the period. Angeles Wealth Management LLC raised its stake in Seagate Technology by 2.2% during the second quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider’s stock worth $503,000 after purchasing an additional 76 shares during the period. Finally, Bessemer Group Inc. raised its stake in Seagate Technology by 3.3% during the second quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider’s stock worth $361,000 after purchasing an additional 81 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 0.8%

The firm has a market capitalization of $41.06 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 1.18 and a beta of 1.53. The business’s 50-day simple moving average is $157.87 and its two-hundred day simple moving average is $120.23.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.5%. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.

Seagate Technology announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.