Seagate Technology (NASDAQ:STX) Trading 2.2% Higher – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) was up 2.2% during mid-day trading on Monday . The company traded as high as $1,013.99 and last traded at $994.79. Approximately 4,282,891 shares were traded during trading, a decline of 4% from the average session volume of 4,441,734 shares. The stock had previously closed at $973.44.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate is benefiting from broad strength in AI and memory stocks, with SanDisk, Micron, Marvell and Coherent also advancing. The sector-wide rally is reinforcing expectations for sustained demand for storage tied to AI infrastructure. Sandisk, Micron, Coherent, Boeing, Apple, Amazon, and More Stocks That Explain Today’s Market
• Positive Sentiment: Recent commentary highlights Seagate’s strong six-month performance, including a roughly 134% gain and a new 52-week high, supported by solid quarterly results. The company recently exceeded earnings and revenue expectations, while reporting substantial year-over-year revenue growth and upbeat forward guidance. 3 Reasons We Love Seagate (STX)
• Positive Sentiment: Growth-focused analysis argues that Seagate’s above-average financial growth could support further outperformance, strengthening the bullish narrative around the stock. 3 Reasons Why Growth Investors Shouldn’t Overlook Seagate (STX)
• Neutral Sentiment: Broader markets are relatively cautious ahead of retail earnings and amid uncertainty over the Federal Reserve’s next policy move. Those factors could influence high-beta technology shares such as STX even as storage-sector sentiment remains strong. Nasdaq Treads Water as Investors Brace for a Busy Week of Retail Results
• Negative Sentiment: After its sharp run-up, Seagate faces valuation and profit-taking risk. The stock’s elevated earnings multiple and position near its recent highs leave it vulnerable to a pullback if AI-related momentum slows or market conditions deteriorate.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $1,300.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. TD Cowen lifted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Barclays increased their price objective 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. Mizuho raised their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Trading Up 2.2%

The firm has a market capitalization of $225.46 billion, a PE ratio of 71.67 and a beta of 2.06. The firm’s fifty day moving average is $891.36 and its two-hundred day moving average is $666.95. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm posted $2.59 EPS. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts predict that Seagate Technology Holdings PLC will post 34.42 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 7,361 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the completion of the sale, the executive vice president directly owned 2,931 shares of the company’s stock, valued at $2,698,864.80. This trade represents a 71.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Christopher Morris sold 168 shares of Seagate Technology stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total value of $137,383.68. Following the sale, the executive vice president owned 11,920 shares in the company, valued at $9,747,699.20. The trade was a 1.39% decrease in their ownership of the stock. 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 sold a total of 163,650 shares of company stock valued at $138,616,274 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley increased its stake in shares of Seagate Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after purchasing an additional 258,151 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after purchasing an additional 243,551 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Seagate Technology by 17.4% in the third quarter. Northern Trust Corp now owns 1,920,329 shares of the data storage provider’s stock valued at $453,313,000 after purchasing an additional 284,758 shares during the last quarter. Institutional investors 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.