Seagate Technology Holdings PLC (NASDAQ:STX) Declares Quarterly Dividend of $0.72

Seagate Technology Holdings PLC (NASDAQ:STX) announced a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Investors of record on Tuesday, September 30th will be given a dividend of 0.72 per share by the data storage provider on Thursday, October 9th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 30th.

Seagate Technology has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Seagate Technology to earn $11.08 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 26.0%.

Seagate Technology Stock Performance

STX opened at $217.51 on Friday. The company’s 50 day simple moving average is $174.24 and its 200 day simple moving average is $130.52. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $231.96. The stock has a market capitalization of $46.32 billion, a PE ratio of 32.13, a P/E/G ratio of 0.98 and a beta of 1.53.

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. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on STX shares. Robert W. Baird lifted their price target on shares of Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Sanford C. Bernstein started coverage on shares of Seagate Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $250.00 price target on the stock. Mizuho lifted their price target on shares of Seagate Technology from $160.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Bank of America boosted their target price on shares of Seagate Technology from $215.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $185.58.

About Seagate Technology

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.