Seagate Technology Holdings PLC (NASDAQ:STX) Stock Has Consensus Price Target of $986.00 According to Brokerages

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) have earned a consensus rating of “Moderate Buy” from the twenty-seven analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $986.00.

Several research analysts have commented on the stock. Susquehanna raised their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Wedbush upped their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. TD Cowen lifted their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd.

Insiders Place Their Bets

In other news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the transaction, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 466,959 shares of company stock worth $378,615,011. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in shares of Seagate Technology by 15.5% during the 2nd quarter. QRG Capital Management Inc. now owns 21,081 shares of the data storage provider’s stock worth $20,343,000 after acquiring an additional 2,826 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Seagate Technology by 163.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,940 shares of the data storage provider’s stock valued at $3,802,000 after acquiring an additional 2,444 shares during the last quarter. Silicon Valley Capital Partners increased its stake in Seagate Technology by 1,988.5% in the second quarter. Silicon Valley Capital Partners now owns 543 shares of the data storage provider’s stock valued at $524,000 after acquiring an additional 517 shares during the last quarter. Altar Rock LLC purchased a new stake in Seagate Technology during the second quarter valued at about $260,000. Finally, Wellington Altus USA Inc. raised its position in Seagate Technology by 137.3% during the second quarter. Wellington Altus USA Inc. now owns 140 shares of the data storage provider’s stock valued at $135,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 1.2%

Shares of Seagate Technology stock opened at $916.83 on Friday. Seagate Technology has a 12-month low of $209.00 and a 12-month high of $1,145.00. The company has a market cap of $208.48 billion, a price-to-earnings ratio of 66.05 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average price is $850.97 and its 200-day moving average price is $758.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. Seagate Technology’s 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 will post 35.7 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.