Seagate Technology (NASDAQ:STX) Trading 7% Higher – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) traded up 7% during trading on Wednesday . The stock traded as high as $892.00 and last traded at $878.21. Approximately 4,699,661 shares were traded during mid-day trading, an increase of 6% from the average session volume of 4,433,304 shares. The stock had previously closed at $820.52.

More Seagate Technology News

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

• Positive Sentiment: Seagate has quietly become a leading AI-storage beneficiary, with demand for mass-capacity drives helping its shares rise roughly 445% over the past year. Hyperscalers’ need to store AI-generated data could support additional growth. Prediction: This Storage Stock Could Be a Surprising AI Winner
• Positive Sentiment: Analysts point to Seagate’s strong fiscal 2026 finish, margin expansion and rising cash flow as potential support for further fiscal 2027 growth. The company’s latest quarter also exceeded earnings and revenue expectations, while management issued quarterly EPS guidance of $7.10-$7.50. Is Seagate’s Strong Margin and Cash Flow Momentum Sustainable?
• Positive Sentiment: Seagate’s nearline mass-capacity segment is benefiting from data-center expansion, multi-year capacity agreements and disciplined supply. Its build-to-order model, reported 52.7% non-GAAP gross margin and HAMR density gains could reinforce pricing power, with capacity reportedly allocated substantially through 2027. Seagate Technology: AI Runs On Disks Nobody Else Wants To Make
• Neutral Sentiment: Reported short interest was zero shares, suggesting no measurable short-covering catalyst; the data may reflect a reporting anomaly.
• Negative Sentiment: CFO Gianluca Romano sold shares in several transactions totaling more than $17 million. The sales reduced his direct holdings, although they were executed under a pre-arranged Rule 10b5-1 trading plan and therefore do not necessarily signal weakening company prospects. SEC insider transaction filing

Analysts Set New Price Targets

STX has been the subject of several research reports. Citigroup boosted their price target on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Rosenblatt Securities upped their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Melius Research started coverage on Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price objective for the company. Finally, Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

The company has a market capitalization of $199.05 billion, a price-to-earnings ratio of 63.27 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $890.19 and a two-hundred day simple moving average of $654.82.

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

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio is currently 21.33%.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 168 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68. Following the completion of the sale, the executive vice president owned 11,920 shares in the company, valued at approximately $9,747,699.20. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 880 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $845.12, for a total transaction of $743,705.60. Following the completion of the transaction, the chief financial officer directly owned 20,663 shares in the company, valued at $17,462,714.56. This trade represents a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 164,292 shares of company stock worth $138,378,957 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in STX. Heartland Bank & Trust Co acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at about $211,000. Pinnacle West Asset Management Inc. purchased a new stake in Seagate Technology in the second quarter valued at approximately $5,607,000. Advisors Preferred LLC purchased a new stake in Seagate Technology in the second quarter valued at approximately $2,594,000. Abacus FCF Advisors LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $8,786,000. Finally, Madison Asset Management LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $386,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.