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

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price hit a new 52-week high during mid-day trading on Wednesday after TD Cowen raised their price target on the stock from $270.00 to $340.00. TD Cowen currently has a buy rating on the stock. Seagate Technology traded as high as $296.15 and last traded at $288.00, with a volume of 3870856 shares. The stock had previously closed at $293.99.

STX has been the topic of a number of other reports. Loop Capital raised their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a report on Monday. Cantor Fitzgerald raised their target price on shares of Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Evercore ISI raised their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Finally, Sanford C. Bernstein boosted their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $281.36.

Insider Buying and Selling

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the sale, the executive vice president owned 9,843 shares of the company’s stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,240 shares of company stock worth $18,806,080 over the last three months. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently bought and sold shares of the business. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth $27,000. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in Seagate Technology in the second quarter valued at $29,000. First Horizon Corp acquired a new stake in Seagate Technology during the 3rd quarter worth about $33,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Seagate Technology during the 3rd quarter valued at about $33,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

The stock has a 50 day simple moving average of $232.63 and a two-hundred day simple moving average of $169.29. The firm has a market cap of $56.07 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

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

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders 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 an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. Seagate Technology’s payout ratio is currently 38.00%.

Seagate Technology Company Profile

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.