Seagate Technology (NASDAQ:STX) Trading 3.4% Higher – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares shot up 3.4% on Tuesday . The stock traded as high as $826.00 and last traded at $821.67. Approximately 2,553,692 shares were traded during trading, a decline of 42% from the average daily volume of 4,415,587 shares. The stock had previously closed at $794.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on STX shares. Evercore raised their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Mizuho increased their price objective on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Argus raised their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup boosted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Price Performance

The stock has a 50-day simple moving average of $880.16 and a 200 day simple moving average of $691.76. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The company has a market cap of $187.44 billion, a P/E ratio of 59.57 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.Seagate Technology’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period last year, the business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts expect that Seagate Technology Holdings PLC will post 34.42 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is 21.33%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 18,138 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $15,405,510.30. Following the completion of the transaction, the chief executive officer owned 298,483 shares of the company’s stock, valued at $253,516,536.05. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gianluca Romano sold 9,076 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $849.35, for a total transaction of $7,708,700.60. Following the transaction, the chief financial officer owned 22,997 shares of the company’s stock, valued at approximately $19,532,501.95. This represents a 28.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,765 shares of company stock valued at $166,634,842 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the last quarter. Retirement Wealth Solutions LLC increased its stake in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after buying an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in 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. Quarry LP bought a new stake in shares of Seagate Technology during the fourth quarter worth approximately $31,000. Finally, WealthCollab LLC raised its position in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. 92.87% of the stock is currently 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.