Seagate Technology (NASDAQ:STX) Sets New 1-Year High After Analyst Upgrade

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high on Thursday after Sanford C. Bernstein raised their price target on the stock from $275.00 to $370.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $283.94 and last traded at $275.77, with a volume of 9044020 shares traded. The stock had previously closed at $250.38.

Other equities analysts have also issued research reports about the company. Rosenblatt Securities raised their target price on Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Mizuho upped their target price on Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Argus increased their price target on shares of Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. Wells Fargo & Company raised their price target on shares of Seagate Technology from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Wedbush upped their price objective on shares of Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Two equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $272.95.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kian Fatt Chong sold 7,078 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total value of $1,926,206.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 78,964 shares of company stock worth $19,067,455. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fiera Capital Corp purchased a new stake in Seagate Technology in the 3rd quarter valued at about $200,000. Avestar Capital LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at approximately $541,000. L & S Advisors Inc raised its position in Seagate Technology by 14.5% in the third quarter. L & S Advisors Inc now owns 59,569 shares of the data storage provider’s stock valued at $14,062,000 after purchasing an additional 7,544 shares during the period. Synovus Financial Corp lifted its stake in Seagate Technology by 28.5% during the third quarter. Synovus Financial Corp now owns 3,188 shares of the data storage provider’s stock worth $753,000 after purchasing an additional 708 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Seagate Technology during the third quarter worth $5,760,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

The firm has a market capitalization of $59.66 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 1.17 and a beta of 1.63. The stock has a 50 day moving average price of $224.04 and a two-hundred day moving average price of $163.68.

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

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.1%. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

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.