Seagate Technology (NASDAQ:STX) Shares Gap Up Following Analyst Upgrade

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) gapped up before the market opened on Thursday after Susquehanna raised their price target on the stock from $615.00 to $775.00. The stock had previously closed at $860.02, but opened at $922.29. Susquehanna currently has a neutral rating on the stock. Seagate Technology shares last traded at $934.1370, with a volume of 920,491 shares changing hands.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Rosenblatt Securities lifted their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Loop Capital boosted their target price on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. BNP Paribas Exane increased their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley raised their price target on Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $886.92.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares in the company, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by company insiders.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate is rebounding along with the rest of the memory and storage sector as investors buy the dip following this week’s selloff. Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Multiple research notes are reinforcing the bullish AI-storage narrative, with Seagate highlighted as a momentum stock and a beneficiary of hyperscaler storage demand. Micron & 2 Momentum Stocks to Buy in July for Explosive Upside
• Positive Sentiment: Seagate is being viewed as a strong earnings candidate, with articles pointing to a history of upside surprises and expectations for another beat in the next report. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Susquehanna raised its price target on Seagate to $775 but kept a neutral rating, which signals confidence in the story while also suggesting the stock may already be fairly valued at recent levels. Seagate Technology (NASDAQ:STX) Given New $775.00 Price Target at Susquehanna
• Neutral Sentiment: Coverage pieces continue to frame Seagate as a high-momentum AI infrastructure winner, but also note that the stock’s large run-up has pushed valuation higher, limiting upside if growth cools. Seagate’s 485% Run Isn’t Over and Our Target Proves It

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Bridgewater Advisors Inc. boosted its stake in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in 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 worth $31,000 after buying an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock worth $321,000 after buying an additional 17 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 19 shares during the period. Finally, WealthCollab LLC boosted its position in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

The company has a 50-day simple moving average of $869.04 and a two-hundred day simple moving average of $564.15. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a market capitalization of $206.67 billion, a P/E ratio of 87.20 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business posted $1.90 EPS. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

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.