Seagate Technology (NASDAQ:STX) Trading Up 11.1% – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price traded up 11.1% during mid-day trading on Tuesday . The company traded as high as $899.95 and last traded at $891.83. 6,027,222 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 4,296,862 shares. The stock had previously closed at $802.45.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Mizuho increased their price target on Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $898.52.

Seagate Technology Stock Performance

The stock has a market capitalization of $207.33 billion, a P/E ratio of 88.37 and a beta of 2.04. The company’s 50-day moving average is $889.85 and its two-hundred day moving average is $604.10. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This represents a 34.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Norges Bank bought a new position in Seagate Technology during the fourth quarter valued at about $498,363,000. Soroban Capital Partners LP grew its holdings in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after acquiring an additional 1,327,197 shares during the period. Janus Henderson Group PLC raised its position in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider’s stock worth $440,614,000 after acquiring an additional 807,962 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.