Seagate Technology (NASDAQ:STX) Price Target Raised to $595.00

Seagate Technology (NASDAQ:STX) had its price target raised by Citigroup from $480.00 to $595.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a buy rating on the data storage provider’s stock.

A number of other research analysts have also weighed in on the company. Mizuho lifted their target price on Seagate Technology from $475.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, April 10th. Cantor Fitzgerald lifted their target price on Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. BNP Paribas Exane lifted their target price on Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group lifted their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. began coverage on Seagate Technology in a report on Monday, March 30th. They set an “overweight” rating and a $525.00 target price for the company. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $491.00.

Seagate Technology Trading Down 2.6%

Shares of STX opened at $519.60 on Monday. The business has a 50-day moving average of $417.64 and a 200 day moving average of $330.11. Seagate Technology has a fifty-two week low of $71.29 and a fifty-two week high of $534.23. The firm has a market cap of $113.31 billion, a P/E ratio of 58.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $2.03 EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, research analysts forecast that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insider Activity

In other news, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. This trade represents a 86.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company’s stock, valued at approximately $89,654.45. This trade represents a 72.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 112,223 shares of company stock worth $46,711,217. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Large investors have recently modified their holdings of the business. Salomon & Ludwin LLC boosted its position in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Avion Wealth boosted its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners purchased a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.