Seagate Technology (NASDAQ:STX) Shares Up 2.4% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX) shares shot up 2.4% during trading on Wednesday . The company traded as high as $764.97 and last traded at $751.07. 2,146,084 shares changed hands during trading, a decline of 49% from the average session volume of 4,219,989 shares. The stock had previously closed at $733.35.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Seagate’s latest margin and revenue trends show strong execution, with record gross margins, tight supply, and pricing support pointing to continued earnings upside. Can Seagate Sustain Its Gross Margin Expansion Momentum?
• Positive Sentiment: AI infrastructure spending remains a tailwind for memory and storage stocks, including STX, after Nvidia’s strong results. Seagate Stock, Western Digital Bounce Back After Nvidia Results
• Positive Sentiment: Seagate’s exchange of $185.9 million in notes could support balance-sheet flexibility and reduce financial risk. Seagate Announces Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
• Neutral Sentiment: CEO William Mosley sold 30,000 shares under a pre-arranged 10b5-1 plan; routine insider selling does not necessarily signal a fundamental change, but it can still weigh on sentiment. SEC filing
• Neutral Sentiment: Some analysts and commentators are questioning valuation, with Jim Cramer calling Seagate “too pricey,” which could limit further upside unless earnings keep accelerating. Jim Cramer on Seagate: “Too Pricey”
• Negative Sentiment: There is also growing caution that the AI memory/storage boom could slow later in the cycle, raising concerns about future supply, pricing, and demand. Advanced Energy, Vishay Precision, and Bel Fuse Shares Plummet, What You Need To Know

Analyst Ratings Changes

A number of research firms have recently commented on STX. The Goldman Sachs Group upped their target price on Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Rosenblatt Securities boosted their price target on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Citigroup boosted their price target on Seagate Technology from $595.00 to $740.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Bank of America boosted their price target on Seagate Technology from $700.00 to $840.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Morgan Stanley boosted their price target on Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One research 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 stock. According to MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $733.71.

Seagate Technology Stock Up 0.3%

The business has a fifty day moving average of $557.38 and a 200-day moving average of $408.64. 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 has a market cap of $182.24 billion, a PE ratio of 77.11 and a beta of 1.98.

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

Seagate Technology Dividend Announcement

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 of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares of the company’s stock, valued at $255,131,322.39. The trade was a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 148,283 shares of company stock worth $88,528,318. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in the company. National Pension Service grew its position in Seagate Technology by 28.0% during the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after purchasing an additional 54,722 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Seagate Technology during the 4th quarter worth about $23,882,000. New York State Teachers Retirement System grew its position in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock worth $51,510,000 after purchasing an additional 8,991 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock worth $142,874,000 after purchasing an additional 6,028 shares during the period. Finally, Keystone Investors PTE Ltd. grew its position in Seagate Technology by 55.7% during the 3rd quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after purchasing an additional 18,000 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.