Seagate Technology (NASDAQ:STX) Shares Up 6.8% – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price shot up 6.8% during trading on Thursday . The stock traded as high as $434.91 and last traded at $434.2770. 2,839,676 shares changed hands during trading, a decline of 32% from the average session volume of 4,155,829 shares. The stock had previously closed at $406.77.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush boosted their target price on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Bank of America raised their price target on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. BNP Paribas Exane lifted their price objective on Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. China Renaissance boosted 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. Finally, Citigroup lifted their price target on Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $447.35.

Seagate Technology Trading Up 6.9%

The firm has a market cap of $94.81 billion, a price-to-earnings ratio of 49.18, a P/E/G ratio of 0.94 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business has a 50-day moving average of $384.20 and a 200-day moving average of $296.36.

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

Seagate Technology Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 89,051 shares of company stock valued at $34,430,409 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently bought and sold shares of STX. National Pension Service boosted its holdings in shares of Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after acquiring an additional 54,722 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $1,864,000. Keystone Investors PTE Ltd. boosted its stake in Seagate Technology by 55.7% in the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock valued at $11,879,000 after purchasing an additional 18,000 shares during the period. Vision Financial Markets LLC boosted its stake in Seagate Technology by 341.7% in the 3rd quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider’s stock valued at $1,251,000 after purchasing an additional 4,100 shares during the period. Finally, Estate Counselors LLC acquired a new position in Seagate Technology in the 3rd quarter valued at $2,557,000. 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.