Seagate Technology (NASDAQ:STX) Hits New 12-Month High – Should You Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) hit a new 52-week high on Monday . The company traded as high as $823.98 and last traded at $813.5030, with a volume of 654735 shares. The stock had previously closed at $782.64.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Seagate Technology from $595.00 to $740.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein upped their price objective on Seagate Technology from $620.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Mizuho upped their price objective on Seagate Technology from $565.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Barclays boosted their target price on Seagate Technology from $625.00 to $750.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Argus boosted their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $709.13.

Seagate Technology Price Performance

The company has a 50-day moving average of $476.41 and a two-hundred day moving average of $369.68. The stock has a market capitalization of $183.90 billion, a PE ratio of 77.63 and a beta of 1.98. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

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

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio is 28.08%.

Insider Activity

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 24,584 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the sale, the chief executive officer owned 375,591 shares of the company’s stock, valued at $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 102,723 shares of company stock valued at $53,301,684 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after buying an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC grew its stake in shares of Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after buying an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after buying an additional 19 shares in the last quarter. Gateway Investment Advisers LLC boosted its holdings in Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock valued at $385,000 after purchasing an additional 25 shares during the last quarter. Finally, Trajan Wealth LLC grew its stake in Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after purchasing an additional 25 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.