Seagate Technology (NASDAQ:STX) Stock Price Up 1.8% – Still a Buy?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price traded up 1.8% during mid-day trading on Wednesday . The company traded as high as $921.38 and last traded at $908.10. 5,239,351 shares were traded during trading, an increase of 22% from the average daily volume of 4,307,935 shares. The stock had previously closed at $891.83.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STX. Evercore lifted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Mizuho raised their price target on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Melius Research started coverage on shares of Seagate Technology in a research note on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective on the stock. Finally, Wedbush upped their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $898.52.

Seagate Technology Stock Performance

The company has a fifty day moving average price of $892.03 and a two-hundred day moving average price of $608.50. The firm has a market cap of $204.80 billion, a price-to-earnings ratio of 86.66 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 issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the business earned $1.90 earnings per share. Seagate Technology’s revenue for the quarter 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. As a group, equities research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were 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 was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is currently 28.08%.

Insiders Place Their Bets

In other news, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares in the company, valued at $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. PFA Pension Forsikringsaktieselskab bought a new stake in Seagate Technology during the fourth quarter valued at about $23,882,000. New York State Teachers Retirement System boosted its stake in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Seagate Technology by 1.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after buying an additional 6,028 shares during the last quarter. Praxis Investment Management Inc. increased its position in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after buying an additional 2,389 shares during the period. Finally, Ritholtz Wealth Management lifted its holdings in shares of Seagate Technology by 64.5% during the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock worth $5,872,000 after buying an additional 8,358 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.