Seagate Technology (NASDAQ:STX) Reaches New 1-Year High – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $846.85 and last traded at $833.94, with a volume of 807865 shares. The stock had previously closed at $812.73.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research reports. Mizuho raised their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their target price on shares of Seagate Technology from $450.00 to $700.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald raised their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane increased their price objective on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Evercore increased their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $736.21.

Seagate Technology Stock Up 5.8%

The stock has a market capitalization of $192.77 billion, a PE ratio of 81.57 and a beta of 1.98. The firm’s fifty day moving average is $574.69 and its 200-day moving average is $416.45. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s payout ratio is 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 142,437 shares of company stock worth $86,093,575. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently made changes to their positions in STX. National Pension Service boosted its position in Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after purchasing an additional 54,722 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Seagate Technology during the fourth quarter worth $23,882,000. New York State Teachers Retirement System boosted its position in Seagate Technology by 5.0% during the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Finally, Keystone Investors PTE Ltd. raised its position in shares of Seagate Technology by 55.7% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after purchasing an additional 18,000 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.