Seagate Technology (NASDAQ:STX) Stock Price Up 10.3% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price was up 10.3% during trading on Wednesday . The company traded as high as $278.47 and last traded at $276.2730. Approximately 2,801,462 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 4,054,733 shares. The stock had previously closed at $250.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STX shares. Citigroup boosted their price objective on shares of Seagate Technology from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Sanford C. Bernstein set a $275.00 price objective on shares of Seagate Technology and gave the company an “outperform” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley boosted their price objective on shares of Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $263.18.

Seagate Technology Stock Performance

The company has a market cap of $60.11 billion, a P/E ratio of 36.19, a P/E/G ratio of 1.17 and a beta of 1.63. The firm’s fifty day moving average is $217.51 and its two-hundred day moving average is $160.64.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, topping the consensus estimate of $2.40 by $0.21. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. On average, equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 24th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is presently 36.97%.

Insider Transactions at Seagate Technology

In other news, EVP Kian Fatt Chong sold 7,078 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 3,732 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $193.30, for a total transaction of $721,395.60. Following the sale, the executive vice president owned 4,172 shares in the company, valued at $806,447.60. This represents a 47.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 50,918 shares of company stock valued at $11,645,980 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds have recently made changes to their positions in the business. First Horizon Corp purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at about $33,000. Physician Wealth Advisors Inc. raised its position in shares of Seagate Technology by 43.7% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. United Community Bank raised its position in shares of Seagate Technology by 35.2% during the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Finally, Rakuten Securities Inc. grew its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.