Seagate Technology (NASDAQ:STX) Stock Price Up 1.2% – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares shot up 1.2% during mid-day trading on Friday. The stock traded as high as $924.36 and last traded at $916.83. 2,762,944 shares changed hands during trading, a decline of 36% from the average session volume of 4,331,688 shares. The stock had previously closed at $905.92.

Analysts Set New Price Targets

STX has been the topic of a number of recent research reports. Wedbush raised their price target on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 6th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Up 1.2%

The firm’s 50-day simple moving average is $848.39 and its 200 day simple moving average is $757.14. The stock has a market cap of $208.48 billion, a P/E ratio of 66.05 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Activity at Seagate Technology

In other news, EVP Ban Teh sold 52,730 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the completion of the sale, the executive vice president owned 5,810 shares in the company, valued at $4,543,884.80. This represents a 90.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer directly owned 378,108 shares in the company, valued at approximately $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 466,959 shares of company stock worth $378,615,011 over the last ninety days. Insiders own 0.51% of the company’s stock.

Institutional Trading of Seagate Technology

A number of large investors have recently added to or reduced their stakes in STX. NewEdge Advisors LLC grew its holdings in shares of Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after acquiring an additional 10,190 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Seagate Technology in the first quarter worth approximately $1,328,000. UNICOM Systems Inc. lifted its position in shares of Seagate Technology by 18.2% in the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock valued at $41,978,000 after acquiring an additional 6,700 shares in the last quarter. Financial Insights Inc. acquired a new stake in Seagate Technology during the 2nd quarter valued at $706,000. Finally, Contravisory Investment Management Inc. grew its holdings in shares of Seagate Technology by 590.3% during the second quarter. Contravisory Investment Management Inc. now owns 1,774 shares of the data storage provider’s stock valued at $1,712,000 after buying an additional 1,517 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.