Seagate Technology (NASDAQ:STX) Sets New 52-Week High Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high during mid-day trading on Thursday after Sanford C. Bernstein raised their price target on the stock from $275.00 to $370.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $283.94 and last traded at $275.77, with a volume of 9044020 shares changing hands. The stock had previously closed at $250.38.

A number of other brokerages have also weighed in on STX. Bank of America raised their price objective on shares of Seagate Technology from $255.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BNP Paribas Exane decreased their price target on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Benchmark raised their target price on Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley increased their price target on shares of Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two 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. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $272.95.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 7,078 shares of Seagate Technology stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the transaction, the chief executive officer directly owned 465,668 shares of the company’s stock, valued at approximately $122,386,863.76. This trade represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,964 shares of company stock valued at $19,067,455 over the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Vision Financial Markets LLC acquired a new stake in shares of Seagate Technology in the second quarter worth $173,000. Nordea Investment Management AB increased its holdings in Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after purchasing an additional 2,808 shares in the last quarter. Personal CFO Solutions LLC purchased a new position in Seagate Technology in the first quarter valued at about $223,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Seagate Technology during the first quarter worth about $272,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Seagate Technology by 21.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider’s stock valued at $8,886,000 after buying an additional 10,847 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.3%

The firm has a 50-day moving average of $224.04 and a 200 day moving average of $163.68. The stock has a market capitalization of $59.66 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

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

Seagate Technology Increases Dividend

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

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.