Seagate Technology (NASDAQ:STX) Stock Price Up 4.5% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares shot up 4.5% during trading on Monday. The stock traded as high as $903.00 and last traded at $887.09. Approximately 5,581,088 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 4,359,481 shares. The stock had previously closed at $848.99.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate is reportedly making a higher bid for TDK’s magnetic-heads business, potentially securing a strategically important component supplier and strengthening its position in the HDD market. However, the deal could also require a substantial investment. Seagate reportedly makes higher bid for TDK magnetic-heads business
• Positive Sentiment: Morgan Stanley maintained a Buy rating, while some analysts argued that the earlier Toshiba-driven selloff overstated the threat. Seagate’s nearline HDD demand is supported by AI-related data-center growth and customer contracts extending into 2027. Morgan Stanley remains a Buy on Seagate
• Neutral Sentiment: The reported sale by CEO William Mosley of approximately $17.4 million in stock occurred before the latest Toshiba announcement. Although the timing may concern investors, the transaction alone does not establish that management expects a business slowdown. Seagate CEO stock sale
• Negative Sentiment: Toshiba’s plan to double HDD production capacity has revived fears that additional industry supply could weaken pricing, reduce Seagate’s pricing power and challenge its recent scarcity-driven growth. Western Digital shares also declined, indicating a sector-wide reaction. Toshiba HDD expansion pressures storage stocks
• Negative Sentiment: Investors are also weighing a potential bidding contest between Seagate and Toshiba for TDK’s magnetic-heads unit. The contest raises the risk of a costly acquisition and highlights intensifying competition for critical HDD components. Seagate and Western Digital face Toshiba competition concerns

Wall Street Analyst Weigh In

STX has been the topic of several research reports. Rosenblatt Securities upped their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Argus boosted their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Fox Advisors cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Susquehanna raised their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Trading Down 9.2%

The firm has a market cap of $183.19 billion, a P/E ratio of 58.04 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The firm has a fifty day moving average of $857.23 and a 200-day moving average of $785.54.

Seagate Technology (NASDAQ:STX) last issued 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. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the business earned $2.59 EPS. The firm’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 97,889 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer owned 378,108 shares in the company, valued at approximately $291,952,311.12. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. 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. Insiders have sold a total of 466,959 shares of company stock worth $378,840,741 in the last quarter. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Retirement Wealth Solutions LLC increased its stake in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after buying an additional 15 shares in the last quarter. WealthCollab LLC boosted its stake in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Seagate Technology during the 4th quarter worth $37,000. Finally, McMillan Office Inc. acquired a new position in shares of Seagate Technology in the 1st quarter worth $39,000. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that designs, manufactures and supplies solutions for storing, managing and accessing digital information. Its product portfolio is centered on hard disk drives (HDDs), including high-capacity drives used in cloud data centers, enterprise environments, surveillance systems, network-attached storage and personal computing.

The company also offers solid-state drives (SSDs), storage systems, external storage products and related services.