Seagate Technology (NASDAQ:STX) Stock Price Up 2.9% After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) traded up 2.9% during mid-day trading on Wednesday after Barclays raised their price target on the stock from $750.00 to $1,000.00. Barclays currently has an overweight rating on the stock. Seagate Technology traded as high as $888.95 and last traded at $870.66. 3,674,593 shares changed hands during trading, a decline of 12% from the average session volume of 4,180,575 shares. The stock had previously closed at $845.76.

STX has been the subject of several other research reports. Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. UBS Group raised their price objective on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Friday, March 27th. Sanford C. Bernstein increased their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $746.63.

Insiders Place Their Bets

In other Seagate Technology news, EVP James Ci Lee sold 697 shares of Seagate Technology stock in a transaction on Monday, May 4th. The shares were sold at an average price of $741.17, for a total value of $516,595.49. Following the transaction, the executive vice president directly owned 324 shares in the company, valued at approximately $240,139.08. The trade was a 68.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares of the company’s stock, valued at $8,175,129.04. The trade was a 12.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 142,437 shares of company stock valued at $86,093,575. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Pension Service grew its stake in shares of Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after purchasing an additional 54,722 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in Seagate Technology during the fourth quarter worth about $23,882,000. New York State Teachers Retirement System boosted its holdings in Seagate Technology by 5.0% during the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after buying an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after buying an additional 6,028 shares during the period. Finally, Keystone Investors PTE Ltd. increased its holdings in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after buying an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

The stock’s fifty day simple moving average is $583.93 and its 200-day simple moving average is $420.46. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $195.23 billion, a PE ratio of 82.61 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The company’s revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio is 28.08%.

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.