Seagate Technology (NASDAQ:STX) Price Target Raised to $270.00

Seagate Technology (NASDAQ:STX) had its price target increased by Morgan Stanley from $265.00 to $270.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have an overweight rating on the data storage provider’s stock.

Several other equities analysts also recently issued reports on the company. Loop Capital boosted their price objective on Seagate Technology from $200.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Robert W. Baird boosted their price objective on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna boosted their price objective on Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday. Cantor Fitzgerald boosted their price objective on Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein boosted their price objective on Seagate Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $263.18.

Seagate Technology Stock Down 4.6%

Shares of STX stock opened at $255.88 on Wednesday. The business has a 50 day moving average of $213.78 and a two-hundred day moving average of $156.88. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $280.35. The company has a market cap of $54.49 billion, a P/E ratio of 32.85, a PEG ratio of 1.17 and a beta of 1.63.

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

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is 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 yield of 1.2%. Seagate Technology’s dividend payout ratio is presently 36.97%.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 1,410 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $225.56, for a total transaction of $318,039.60. Following the sale, the executive vice president owned 18,041 shares of the company’s stock, valued at $4,069,327.96. The trade was a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director directly owned 352 shares in the company, valued at approximately $52,976. The trade was a 87.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,090 shares of company stock worth $9,759,648 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STX. GAMMA Investing LLC increased its holdings in shares of Seagate Technology by 8.5% in the first quarter. GAMMA Investing LLC now owns 3,027 shares of the data storage provider’s stock valued at $257,000 after buying an additional 237 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after buying an additional 440 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Seagate Technology by 18.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,823 shares of the data storage provider’s stock valued at $2,023,000 after buying an additional 3,673 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Seagate Technology by 350.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 50,416 shares of the data storage provider’s stock valued at $4,262,000 after buying an additional 39,231 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Seagate Technology by 3.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 496,784 shares of the data storage provider’s stock valued at $42,202,000 after buying an additional 17,171 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.