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

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price hit a new 52-week high during mid-day trading on Thursday after Wedbush raised their price target on the stock from $260.00 to $290.00. Wedbush currently has an outperform rating on the stock. Seagate Technology traded as high as $268.91 and last traded at $265.62, with a volume of 9888366 shares. The stock had previously closed at $223.00.

Other research analysts have also recently issued research reports about the stock. UBS Group reduced their target price on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday. Sanford C. Bernstein set a $275.00 target price on shares of Seagate Technology and gave the stock an “outperform” rating in a report on Wednesday. Loop Capital raised their target price on shares of Seagate Technology from $200.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Evercore ISI raised their target price on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, Benchmark raised their target price on shares of Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.24.

Insider Activity at Seagate Technology

In other news, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total transaction of $79,645.02. Following the completion of the sale, the executive vice president owned 13,238 shares in the company, valued at approximately $2,796,659.88. This trade represents a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,090 shares of company stock worth $9,759,648 in the last ninety days. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors have recently modified their holdings of STX. Vision Financial Markets LLC acquired a new position in Seagate Technology during the second quarter worth about $173,000. Nordea Investment Management AB boosted its position in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock worth $2,632,000 after acquiring an additional 2,808 shares during the last quarter. Personal CFO Solutions LLC acquired a new position in Seagate Technology during the first quarter worth about $223,000. Amalgamated Bank boosted its position in Seagate Technology by 0.8% during the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock worth $2,545,000 after acquiring an additional 243 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new position in Seagate Technology during the first quarter worth about $272,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.0%

The stock has a market capitalization of $57.15 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The business’s 50-day moving average is $211.84 and its two-hundred day moving average is $155.61.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.21. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. Seagate Technology’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC 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. Shareholders of record on Wednesday, December 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is presently 36.97%.

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.