Seagate Technology (NASDAQ:STX) Trading 5.9% Higher – Time to Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) shot up 5.9% on Monday . The company traded as high as $886.89 and last traded at $868.26. 3,427,903 shares traded hands during trading, a decline of 19% from the average daily volume of 4,243,452 shares. The stock had previously closed at $820.16.

Seagate Technology News Summary

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

• Positive Sentiment: Memory and storage stocks are rebounding after analysts pointed to improving pricing trends and durable AI-driven demand, helping lift Seagate along with other sector names. Memory stocks rebound as analysts flag a buying opportunity
• Positive Sentiment: BofA recently raised its price target on Seagate to $1,150 and kept a Buy rating, reinforcing bullish sentiment around the company’s HDD business and AI storage exposure. Is Seagate (STX) the Best Pick and Shovel AI Stock to Invest In?
• Positive Sentiment: Melius Research initiated coverage of Seagate with a Buy rating and an even higher $1,600 target, adding another bullish analyst call to the stock’s backdrop. Melius Research Initiates Coverage of Seagate Technology (STX)
• Neutral Sentiment: Zacks listed Seagate among growth and technology-solutions names it likes for July, which supports a constructive medium-term tone but is not a major fundamental catalyst. 4 Stocks to Buy From a Prospering Technology Solutions Industry
• Neutral Sentiment: Another Zacks piece named STX a top-ranked growth stock for July, echoing the same favorable sentiment without adding new company-specific news. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June

Analyst Ratings Changes

STX has been the topic of several research analyst reports. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Barclays upped their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Argus boosted their price target on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, China Renaissance lifted their target price on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $880.52.

Seagate Technology Stock Performance

The stock’s 50-day moving average is $853.32 and its 200 day moving average is $552.19. The stock has a market cap of $194.69 billion, a price-to-earnings ratio of 82.38 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology’s payout ratio is currently 28.08%.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares in the company, valued at $255,131,322.39. This trade represents a 8.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 151,069 shares of company stock valued at $126,191,753. 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 added to or reduced their stakes in the business. Bridgewater Advisors Inc. lifted its holdings in shares of Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the last quarter. Beaumont Financial Advisors LLC lifted its stake in Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after buying an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in Seagate Technology by 0.5% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after buying an additional 19 shares during the last quarter. Finally, WealthCollab LLC increased its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Company Profile

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.