Seagate Technology (NASDAQ:STX) Shares Up 10.3% – Still a Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) rose 10.3% on Wednesday . The company traded as high as $278.47 and last traded at $276.2730. Approximately 2,801,462 shares traded hands during trading, a decline of 31% from the average daily volume of 4,054,733 shares. The stock had previously closed at $250.38.

Wall Street Analyst Weigh In

Several analysts recently issued reports on STX shares. TD Cowen boosted their price objective on shares of Seagate Technology from $175.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Evercore ISI lifted their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Barclays upped their price target on Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. UBS Group dropped their price objective on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Mizuho increased their target price on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Two equities research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $272.95.

Seagate Technology Price Performance

The company has a market cap of $59.66 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 1.17 and a beta of 1.63. The company’s 50-day simple moving average is $224.04 and its 200-day simple moving average is $163.68.

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

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s payout ratio is 38.00%.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of Seagate Technology stock in a transaction that occurred on 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 sale, the executive vice president directly owned 9,843 shares in the company, valued at $1,927,259.40. The trade was a 60.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. This trade represents a 33.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 78,964 shares of company stock valued at $19,067,455. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new stake in Seagate Technology during the first quarter valued at $2,626,000. OneDigital Investment Advisors LLC grew its position in shares of Seagate Technology by 16.8% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,159 shares of the data storage provider’s stock valued at $268,000 after buying an additional 454 shares during the last quarter. World Investment Advisors raised its stake in Seagate Technology by 26.5% during the first quarter. World Investment Advisors now owns 4,441 shares of the data storage provider’s stock worth $377,000 after acquiring an additional 931 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Seagate Technology by 10.5% in the first quarter. Concurrent Investment Advisors LLC now owns 2,894 shares of the data storage provider’s stock worth $246,000 after acquiring an additional 275 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Seagate Technology by 34.8% in the first quarter. Envestnet Asset Management Inc. now owns 117,907 shares of the data storage provider’s stock valued at $10,016,000 after acquiring an additional 30,461 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.