Seagate Technology (NASDAQ:STX) Stock Price Up 6.5% – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price was up 6.5% on Tuesday . The company traded as high as $925.44 and last traded at $904.38. Approximately 5,010,924 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 4,347,545 shares. The stock had previously closed at $849.28.

Analyst Ratings Changes

A number of research analysts recently commented on STX shares. Susquehanna increased their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Citigroup upped their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Wedbush raised their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Evercore lifted their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Loop Capital increased their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. One equities research 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Trading Up 6.5%

The company has a market cap of $204.97 billion, a PE ratio of 65.16 and a beta of 2.06. The stock has a fifty day moving average of $849.54 and a 200-day moving average of $714.80. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

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

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio is 21.33%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 30,000 shares of the firm’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 directly owned 295,168 shares in the company, valued at $240,939,735.04. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Lee sold 9,013 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $794.84, for a total value of $7,163,892.92. Following the completion of the sale, the executive vice president owned 347 shares of the company’s stock, valued at $275,809.48. This represents a 96.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 191,765 shares of company stock worth $161,865,249 in the last ninety days. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust lifted its position in shares of Seagate Technology by 3.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,872 shares of the data storage provider’s stock valued at $1,806,000 after buying an additional 65 shares during the last quarter. Cornerstone Financial Management LLC raised its stake in shares of Seagate Technology by 109.7% during the 2nd quarter. Cornerstone Financial Management LLC now owns 65 shares of the data storage provider’s stock worth $63,000 after acquiring an additional 34 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Seagate Technology during the second quarter valued at approximately $791,000. Advus Financial Partners LLC boosted its stake in Seagate Technology by 21.1% in the second quarter. Advus Financial Partners LLC now owns 2,059 shares of the data storage provider’s stock valued at $1,987,000 after acquiring an additional 359 shares in the last quarter. Finally, Groupe la Francaise boosted its stake in Seagate Technology by 18,576.9% in the second quarter. Groupe la Francaise now owns 4,856 shares of the data storage provider’s stock valued at $4,671,000 after acquiring an additional 4,830 shares in the last quarter. Hedge funds and other institutional investors 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.