Seagate Technology (NASDAQ:STX) Trading 5.8% Higher – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares rose 5.8% on Friday . The company traded as high as $852.98 and last traded at $845.2630. Approximately 482,159 shares were traded during trading, a decline of 89% from the average session volume of 4,336,057 shares. The stock had previously closed at $798.61.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on STX shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a research note on Wednesday, July 29th. Argus raised their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Loop Capital lifted 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. Wall Street Zen upgraded shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Finally, Bank of America raised their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

The firm’s fifty day moving average price is $852.94 and its 200-day moving average price is $708.76. The company has a market cap of $189.88 billion, a P/E ratio of 60.42 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period last year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s dividend payout ratio is currently 21.33%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William Mosley sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total transaction of $24,488,400.00. Following the transaction, the chief executive officer owned 295,168 shares of the company’s stock, valued at $240,939,735.04. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 3,516 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $849.35, for a total value of $2,986,314.60. Following the completion of the transaction, the executive vice president owned 12,805 shares in the company, valued at approximately $10,875,926.75. This represents a 21.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 191,765 shares of company stock valued at $161,865,249 over the last three months. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its position in shares of Seagate Technology by 102,975.8% in the 2nd quarter. California State Teachers Retirement System now owns 316,744,845 shares of the data storage provider’s stock valued at $305,658,775,000 after acquiring an additional 316,437,552 shares during the period. Wellington Management Group LLP increased its stake in Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Soroban Capital Partners LP raised its holdings in Seagate Technology by 1,468.1% in the second 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 period. Finally, Janus Henderson Group PLC raised its holdings in Seagate Technology by 3,872.1% in the first 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 during the period. 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.