Seagate Technology (NASDAQ:STX) Trading 6.8% Higher – Still a Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded up 6.8% on Thursday . The stock traded as high as $434.91 and last traded at $434.2770. 2,839,676 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 4,155,829 shares. The stock had previously closed at $406.77.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Cantor Fitzgerald increased their target price on Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. BNP Paribas Exane raised their price target on Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Argus boosted their price objective on Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $447.35.

Seagate Technology Stock Performance

The company’s fifty day simple moving average is $389.35 and its 200 day simple moving average is $299.02. The stock has a market capitalization of $89.68 billion, a P/E ratio of 46.52, a P/E/G ratio of 0.97 and a beta of 1.61. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the transaction, the chief executive officer directly owned 429,895 shares in the company, valued at approximately $122,760,816.20. This represents a 4.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 89,051 shares of company stock valued at $34,430,409 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Several hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter worth approximately $28,000. Concord Wealth Partners purchased a new position in shares of Seagate Technology in the fourth quarter worth $28,000. Avion Wealth raised its holdings in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Quarry LP purchased a new stake in Seagate Technology during the 4th quarter valued at $31,000. 92.87% of the stock is owned by institutional investors.

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.