Seagate Technology (NASDAQ:STX) Reaches New 12-Month High – Time to Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) reached a new 52-week high on Thursday . The company traded as high as $459.84 and last traded at $451.1670, with a volume of 1977123 shares traded. The stock had previously closed at $407.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STX. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Mizuho raised their price objective on shares of Seagate Technology from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Evercore boosted their target price on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. KeyCorp set a $500.00 price target on shares of Seagate Technology in a report on Wednesday, January 28th. Finally, Citigroup boosted their target price on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $444.09.

Seagate Technology Trading Up 8.4%

The business has a 50-day moving average of $329.20 and a 200 day moving average of $254.17. The stock has a market cap of $96.23 billion, a PE ratio of 50.05, a PEG ratio of 0.89 and a beta of 1.62. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is presently 33.48%.

Insider Activity

In related news, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares of the company’s stock, valued at $99,908.46. This trade represents a 80.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,955 shares of company stock valued at $29,925,749 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the business. Mindset Wealth Management LLC raised its stake in shares of Seagate Technology by 0.6% in the 4th quarter. Mindset Wealth Management LLC now owns 5,799 shares of the data storage provider’s stock valued at $1,597,000 after acquiring an additional 33 shares during the period. Ensign Peak Advisors Inc increased its holdings in Seagate Technology by 132.5% in the 4th quarter. Ensign Peak Advisors Inc now owns 212,368 shares of the data storage provider’s stock valued at $58,484,000 after purchasing an additional 121,027 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings in Seagate Technology by 179.9% in the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 192,110 shares of the data storage provider’s stock valued at $52,905,000 after purchasing an additional 123,463 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Seagate Technology in the fourth quarter valued at about $205,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Seagate Technology by 1.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,819 shares of the data storage provider’s stock worth $3,806,000 after purchasing an additional 250 shares in the last quarter. 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.