Seagate Technology (NASDAQ:STX) Stock Jumps 10% – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shot up 10% during mid-day trading on Wednesday. The company traded as high as $568.89 and last traded at $551.72. 7,592,455 shares traded hands during trading, an increase of 67% from the average daily volume of 4,558,960 shares. The stock had previously closed at $501.62.

Recent Seagate Technology Headlines

Investors following STX have been watching these headlines:

• Positive Sentiment: Shares increased as CoreWeave reported better-than-expected results and raised its 2026 guidance, easing concerns about AI spending and supporting a rebound in storage and memory stocks. Article: Seagate Soars 10% as CoreWeave’s “Breakout Quarter” Eases AI Spending Fears
• Positive Sentiment: A Morgan Stanley report cited strong fundamentals and weak investor sentiment, and said the stock could potentially double over the next 12 months, adding an analyst-driven positive signal. Article: Seagate Dropped 15% in a Week: Morgan Stanley Says It Could Double in the Next 12 Months
• Neutral Sentiment: Commentary notes that the rebound follows a sharp selloff and that its durability remains uncertain, with investor confidence dependent in part on how AI infrastructure spending is financed. Article: Seagate Spikes as CoreWeave’s Results Revive AI Trade

Analyst Ratings Changes

A number of analysts have weighed in on STX shares. JPMorgan Chase & Co. increased their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Barclays upped their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Wells Fargo & Company decreased their price target on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Susquehanna lowered their price objective on shares of Seagate Technology from $925.00 to $765.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 28th. Finally, Argus boosted their price objective 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. Twenty-three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Stock Performance

The stock has a 50 day moving average of $756.58 and a two-hundred day moving average of $695.40. The stock has a market capitalization of $126.65 billion, a PE ratio of 28.98 and a beta of 2.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.25.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter 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. Research analysts expect that Seagate Technology Holdings PLC will post 37.96 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company 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. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a yield of 0.6%. Seagate Technology’s dividend payout ratio (DPR) is presently 15.97%.

Insider Buying and Selling

In other Seagate Technology news, CEO William Mosley sold 6,720 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $622.82, for a total transaction of $4,185,350.40. Following the completion of the transaction, the chief executive officer directly owned 346,108 shares in the company, valued at approximately $215,562,984.56. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 2,675 shares of Seagate Technology stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $650.15, for a total transaction of $1,739,151.25. Following the transaction, the executive vice president owned 20,933 shares of the company’s stock, valued at approximately $13,609,589.95. The trade was a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 447,108 shares of company stock valued at $356,049,743 in the last three months. 0.51% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

A number of large investors have recently made changes to their positions in STX. NewEdge Advisors LLC lifted its position in Seagate Technology by 85.9% during the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after buying an additional 10,190 shares during the period. UNICOM Systems Inc. lifted its holdings in shares of Seagate Technology by 18.2% during the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after acquiring an additional 6,700 shares during the period. USA Financial Formulas purchased a new position in shares of Seagate Technology during the 1st quarter worth about $1,328,000. Silverleafe Capital Partners LLC acquired a new stake in shares of Seagate Technology in the third quarter worth approximately $820,000. Finally, Financial Insights Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $706,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.