Morgan Stanley Boosts Seagate Technology (NASDAQ:STX) Price Target to $265.00

Seagate Technology (NASDAQ:STX) had its price objective raised by Morgan Stanley from $168.00 to $265.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have an overweight rating on the data storage provider’s stock.

Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the company a “buy” rating in a report on Monday. Benchmark boosted their target price on shares of Seagate Technology from $165.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. UBS Group increased their target price on Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Sanford C. Bernstein began coverage on Seagate Technology in a report on Tuesday, September 16th. They set an “outperform” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Seagate Technology from $122.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $193.32.

Seagate Technology Stock Up 8.8%

Shares of NASDAQ STX opened at $256.84 on Monday. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $258.40. The company has a market cap of $54.70 billion, a price-to-earnings ratio of 37.94, a P/E/G ratio of 1.06 and a beta of 1.63. The business has a fifty day simple moving average of $179.70 and a 200-day simple moving average of $133.40.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the business posted $1.05 EPS. Seagate Technology’s revenue was up 29.5% on a year-over-year basis. 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 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Seagate Technology’s payout ratio is 42.54%.

Insider Activity at Seagate Technology

In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares in the company, valued at $39,413.52. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total transaction of $3,075,000.00. Following the completion of the sale, the chief executive officer directly owned 478,912 shares of the company’s stock, valued at $73,632,720. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,935 shares of company stock worth $9,396,416. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently bought and sold shares of STX. Vanguard Group Inc. lifted its position in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock worth $2,441,729,000 after buying an additional 769,009 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. State Street Corp boosted its position in Seagate Technology by 5.0% during the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after purchasing an additional 432,455 shares during the period. Geode Capital Management LLC grew its holdings in Seagate Technology by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after purchasing an additional 85,660 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock worth $243,077,000 after buying an additional 99,884 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.