Seagate Technology (NASDAQ:STX) Stock Price Up 6.6% – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares were up 6.6% during trading on Monday . The company traded as high as $841.31 and last traded at $834.01. Approximately 5,839,541 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 4,299,941 shares. The stock had previously closed at $782.64.

Wall Street Analyst Weigh In

A number of research analysts have commented on STX shares. China Renaissance increased their price objective on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company increased their price target on Seagate Technology from $450.00 to $700.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Finally, Rosenblatt Securities raised their price target on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $709.13.

Seagate Technology Price Performance

The firm has a market cap of $187.01 billion, a price-to-earnings ratio of 79.13 and a beta of 1.98. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a 50 day moving average of $476.41 and a 200 day moving average of $369.68.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction dated 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 sale, the executive vice president owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 1,902 shares of Seagate Technology stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $770.00, for a total value of $1,464,540.00. Following the completion of the sale, the chief financial officer directly owned 40,945 shares in the company, valued at approximately $31,527,650. This represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,723 shares of company stock worth $53,301,684 in the last three months. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology during the fourth quarter worth approximately $28,000. Avion Wealth grew its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.