Bank of America Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its target price boosted by Bank of America from $275.00 to $320.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Several other equities analysts have also recently commented on STX. TD Cowen raised their price target on shares of Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. UBS Group dropped their price target on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Mizuho lifted their target price on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 2nd. Finally, Susquehanna increased their price objective on Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $283.41.

Seagate Technology Price Performance

NASDAQ STX opened at $240.50 on Thursday. The firm’s 50-day moving average is $238.92 and its two-hundred day moving average is $175.10. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $297.88. The stock has a market capitalization of $51.36 billion, a P/E ratio of 30.87, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.21. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.2%. Seagate Technology’s payout ratio is 38.00%.

Insider Buying and Selling at Seagate Technology

In related news, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. The trade was a 33.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the sale, the chief executive officer owned 465,668 shares in the company, valued at $122,386,863.76. This represents a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 131,261 shares of company stock worth $34,210,708. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. West Family Investments Inc. grew its stake in shares of Seagate Technology by 2.7% during the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock valued at $337,000 after buying an additional 37 shares during the period. United Community Bank increased its stake in shares of Seagate Technology by 35.2% in the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Seagate Technology by 2.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock worth $440,000 after buying an additional 47 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its holdings in shares of Seagate Technology by 2.9% in the 3rd quarter. Magnus Financial Group LLC now owns 1,755 shares of the data storage provider’s stock worth $414,000 after purchasing an additional 49 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.