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

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) hit a new 52-week high during trading on Thursday after Exane BNP Paribas upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $349.55 and last traded at $344.22, with a volume of 4701053 shares changing hands. The stock had previously closed at $325.99.

A number of other research analysts have also recently weighed in on STX. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and boosted their target price for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $250.00 to $360.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. The Goldman Sachs Group raised their target price on Seagate Technology from $280.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Citigroup boosted their target price on Seagate Technology from $320.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Mizuho increased their price target on Seagate Technology from $290.00 to $370.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $352.00.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the sale, the chief executive officer owned 429,895 shares of the company’s stock, valued at $122,760,816.20. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at $16,052,511.88. The trade was a 48.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,557 shares of company stock valued at $36,847,793 in the last ninety days. 0.79% of the stock is owned by insiders.

More Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate’s areal-density roadmap and HAMR-powered Mozaic drives are highlighted as keeping HDDs cost-efficient as hyperscalers scale AI storage beyond 36TB — technical progress that supports higher ASPs and long-term capacity demand. Read More.
• Positive Sentiment: Analysts and research pieces point to Seagate’s history of earnings beats and the current setup (pricing power, demand from cloud/AI customers) that make another potential beat likely — a catalyst for upward revisions. Read More.
• Positive Sentiment: Sector rotation into storage: market commentary says institutional money is moving from GPUs/chips into memory and storage as AI shifts emphasis to massive data capacity — a tailwind for HDD demand alongside SSD markets. Read More.
• Positive Sentiment: Multiple broker actions (Exane BNP Paribas upgraded to strong‑buy/outperform with a ~$380 target; Rosenblatt, UBS and Bank of America published bullish notes/price-target increases) are boosting sentiment and have helped push STX to a new 12‑month high. Read More.
• Neutral Sentiment: Valuation and positioning pieces review STX after the upgrades — analysts debate upside vs. high multiples (STX trades with elevated PE and near its 52‑week high), so some investors may pause to reassess entry points. Read More.
• Negative Sentiment: Not all shops are uniformly bullish — Zacks Research cut its rating from strong‑buy to hold, which could temper momentum among more conservative investors. Read More.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC purchased a new position in Seagate Technology in the 3rd quarter worth $1,187,621,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after buying an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares during the period. Norges Bank bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $197,027,000. Finally, Boston Partners purchased a new stake in Seagate Technology during the 2nd quarter valued at about $193,500,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

The firm has a 50-day moving average of $287.40 and a 200-day moving average of $228.02. The firm has a market capitalization of $74.00 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. Seagate Technology’s payout ratio is presently 38.00%.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.