Seagate Technology (NASDAQ:STX) Stock Price Crosses Above Two Hundred Day Moving Average Following Analyst Downgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price passed above its two hundred day moving average during trading on Wednesday after Bank of America raised their price target on the stock from $1,150.00 to $1,200.00. The stock has a two hundred day moving average of $684.81 and traded as high as $698.94. Bank of America currently has a buy rating on the stock. Seagate Technology shares last traded at $697.97, with a volume of 10,799,121 shares.

STX has been the subject of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Barclays upped their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Susquehanna raised their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Twenty-two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $971.64.

Insider Transactions at Seagate Technology

In other news, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 the company’s stock in a transaction 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 transaction, the executive vice president directly owned 5,810 shares in the company, valued at $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 467,506 shares of company stock valued at $379,191,992 over the last 90 days. 0.51% of the stock is currently owned by corporate insiders.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate reported fiscal Q1 revenue of $4.23 billion, up 61% year over year, and adjusted earnings of $7.68 per share, exceeding Wall Street estimates. Data-center revenue rose 63%, while strong pricing, AI-related demand and HAMR adoption drove record profitability and cash flow. Seagate Technology Reports Fiscal First Quarter 2027 Financial Results
• Positive Sentiment: Management projected approximately $4.8 billion of revenue and $9.20 in non-GAAP EPS for the December quarter, above consensus expectations. Nearline capacity is largely committed under supply agreements through 2028, with some commentary pointing to commitments extending through 2030. Seagate expects December-quarter revenue and EPS
• Positive Sentiment: Seagate raised its quarterly dividend 2.7% to $0.76 per share and continues to benefit from AI infrastructure demand. Several analysts still see substantial upside, including buy or overweight ratings from Citigroup, Wells Fargo, TD Cowen and Morgan Stanley. Seagate Q1 earnings call highlights
• Neutral Sentiment: Analysts broadly remain constructive on Seagate Technology, but multiple firms lowered their price targets after the results. Citigroup reduced its target to $1,050, Wells Fargo to $820 and TD Cowen to $900; Wedbush maintained an outperform rating with a $1,000 target.
• Negative Sentiment: The market appears concerned that exabyte shipment growth and future margin expansion may slow, particularly after STX’s sharp prior rally. The stock’s high valuation left little room for disappointment, prompting profit-taking and a downgrade from Summit Insights to “hold”; Susquehanna also cut its rating to “neutral.” Seagate pullback on slower exabyte growth

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC raised its holdings in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Seagate Technology in the 2nd quarter valued at about $39,000. One River Asset Management LLC grew its position in shares of Seagate Technology by 50.0% during the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 15 shares during the period. Creative Capital Management Investments LLC grew its position in shares of Seagate Technology by 104.5% during the 3rd quarter. Creative Capital Management Investments LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 23 shares during the period. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $42,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm has a market capitalization of $158.71 billion, a P/E ratio of 50.29 and a beta of 2.06. The stock’s 50 day moving average is $805.84 and its two-hundred day moving average is $684.81.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, beating the consensus estimate of $7.45 by $0.23. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the business posted $2.61 earnings per share. Seagate Technology’s revenue was up 61.0% compared to the same quarter last year. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 35.79 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio is presently 21.33%.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.