Seagate Technology (NASDAQ:STX) Hits New 52-Week High Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price reached a new 52-week high during trading on Wednesday after TD Cowen raised their price target on the stock from $270.00 to $340.00. TD Cowen currently has a buy rating on the stock. Seagate Technology traded as high as $296.15 and last traded at $288.00, with a volume of 3870856 shares. The stock had previously closed at $293.99.

Several other research analysts have also recently weighed in on STX. Evercore ISI lifted their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Wells Fargo & Company lifted their target price on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Robert W. Baird upped their price target on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Fox Advisors increased their target price on shares of Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.36.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology 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 sale, the chief executive officer directly owned 465,668 shares in the company, valued at approximately $122,386,863.76. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay L. Geldmacher sold 1,250 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $269.10, for a total transaction of $336,375.00. Following the transaction, the director directly owned 1,148 shares of the company’s stock, valued at $308,926.80. This trade represents a 52.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 77,240 shares of company stock valued at $18,806,080. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the company. West Family Investments Inc. boosted its position 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 acquiring an additional 37 shares during the last quarter. United Community Bank raised its stake in Seagate Technology by 35.2% during the third quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after purchasing an additional 44 shares in 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 purchasing an additional 45 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Seagate Technology by 2.6% during the third quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after purchasing 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 valued at $414,000 after acquiring an additional 49 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

The company has a 50-day moving average of $231.06 and a 200 day moving average of $168.64. The company has a market cap of $60.49 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

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

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a $0.74 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is currently 38.00%.

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.