Seagate Technology (NASDAQ:STX) Trading 7.4% Higher After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price was up 7.4% during mid-day trading on Friday after China Renaissance raised their price target on the stock from $802.00 to $983.00. The stock traded as high as $914.60 and last traded at $932.5610. Approximately 514,547 shares changed hands during trading, a decline of 87% from the average daily volume of 4,046,156 shares. The stock had previously closed at $868.09.

STX has been the topic of a number of other reports. Barclays increased their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Bank of America increased their price target on shares of Seagate Technology from $900.00 to $1,000.00 in a research report on Monday. Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. Finally, Argus increased their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $820.63.

Insider Transactions at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the 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 transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This trade represents a 34.42% decrease in their position. 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. Insiders sold 160,629 shares of company stock valued at $112,739,671 in the last quarter. Insiders own 0.79% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate said its nearline storage capacity is almost fully allocated through 2027 and lifted its long-term revenue growth target to at least 20%, signaling strong cloud and AI-driven demand. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Positive Sentiment: JPMorgan raised its price target on Seagate and maintained an Overweight rating, adding to bullish analyst sentiment around the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Brokerage coverage remains constructive, with commentary pointing to AI-driven demand and strong earnings momentum as reasons for the stock’s rerating. STX Stock Tops Industry Returns in 3 Months: A Smart Investment Now?
• Neutral Sentiment: Seagate announced redemption of its exchangeable notes, a capital-structure move that is unlikely to be a major near-term stock driver on its own. Seagate Announces Redemption of Exchangeable Notes
• Negative Sentiment: Several executives, including the CEO and CFO, sold shares in recent insider transactions, which can create some caution even though the sales were relatively small versus their total holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Institutional Inflows and Outflows

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

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock’s fifty day moving average is $699.38 and its 200-day moving average is $472.60. The stock has a market capitalization of $208.78 billion, a PE ratio of 88.36 and a beta of 2.04.

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

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s payout ratio is 28.08%.

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.