Seagate Technology (NASDAQ:STX) Trading 4.7% Higher After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price traded up 4.7% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $700.00 to $900.00. Wells Fargo & Company currently has an equal weight rating on the stock. Seagate Technology traded as high as $940.79 and last traded at $921.26. 3,340,919 shares changed hands during trading, a decline of 20% from the average session volume of 4,168,353 shares. The stock had previously closed at $879.80.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Citigroup lifted their price objective on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Susquehanna lifted their price objective on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Argus lifted their price objective on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $754.96.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer directly owned 339,591 shares in the company, valued at $255,131,322.39. This trade represents a 8.12% 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, Director Stephanie Tilenius sold 1,580 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the completion of the transaction, the director owned 10,664 shares of the company’s stock, valued at approximately $8,175,129.04. The trade was a 12.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 122,437 shares of company stock valued at $78,398,375. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Institutional investors have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. WealthCollab LLC boosted its holdings in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of Seagate Technology during the first quarter worth approximately $39,000. Finally, Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

The stock has a market cap of $206.57 billion, a P/E ratio of 87.41 and a beta of 2.04. The firm’s 50-day moving average is $612.03 and its two-hundred day moving average is $432.99. 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 issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The company’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

About Seagate Technology

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.