Seagate Technology (NASDAQ:STX) Shares Gap Up – Still a Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) gapped up prior to trading on Thursday . The stock had previously closed at $993.25, but opened at $1,111.00. Seagate Technology shares last traded at $1,026.2320, with a volume of 1,001,436 shares.

More Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Micron’s strong quarterly results and upbeat AI demand commentary lifted sentiment across memory and storage names, including Seagate, by reinforcing expectations for a memory/storage upcycle. Micron Leads Tech Stocks Rally on Blowout Earnings
• Positive Sentiment: Analyst and media coverage continues to frame Seagate as a key AI infrastructure winner, citing stronger data-center demand, pricing power, and solid recent revenue and margin performance. Is Seagate (STX) Turning AI-Fueled Pricing Power Into a More Durable Earnings Model?
• Positive Sentiment: Another bullish read-through from Micron’s results put Seagate, Western Digital, and Sandisk in focus as investors looked for beneficiaries of rising AI memory demand. Micron’s Robust Q3 Results Raise Investor Attention on These 3 Stocks
• Neutral Sentiment: Broader market commentary noted that tech stocks were volatile and some AI winners gave back gains, which may have tempered enthusiasm for Seagate despite the positive sector backdrop. Micron, Sandisk, Apple, ON Semiconductor, and More Stocks That Explain Today’s Market
• Negative Sentiment: One report specifically said Seagate was hit hard by a leverage-driven selloff in the chip space and renewed doubts about debt-funded AI capex, showing that valuation and leverage concerns remain a risk. Why Seagate (STX) Shares Are Getting Obliterated Today

Analyst Upgrades and Downgrades

Several equities analysts have commented on STX shares. Loop Capital raised their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Mizuho raised their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $831.79.

Seagate Technology Stock Performance

The firm has a fifty day moving average price of $818.72 and a 200 day moving average price of $529.16. The firm has a market capitalization of $201.78 billion, a PE ratio of 85.38 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The firm’s revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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 paid a $0.74 dividend. 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 is currently 28.08%.

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 1,364 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the transaction, the executive vice president owned 12,088 shares of the company’s stock, valued at $10,639,736.72. The trade was a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shankar Arumugavelu sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $927.68, for a total value of $927,680.00. Following the completion of the transaction, the director owned 6,626 shares in the company, valued at $6,146,807.68. This represents a 13.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 141,069 shares of company stock worth $107,161,712. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently modified their holdings of STX. Arrowstreet Capital Limited Partnership increased its stake in shares of Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after purchasing an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in Seagate Technology in the fourth quarter valued at about $498,363,000. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after purchasing an additional 943,170 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.