Seagate Technology (NASDAQ:STX) Shares Gap Down – What’s Next?

Seagate Technology Holdings PLC (NASDAQ:STX) shares gapped down prior to trading on Wednesday . The stock had previously closed at $965.00, but opened at $896.74. Seagate Technology shares last traded at $926.7690, with a volume of 627,986 shares trading hands.

Seagate Technology News Summary

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

• Positive Sentiment: Bank of America raised its price target on Seagate Technology (STX) from $1,000 to $1,150 and reiterated a Buy rating, signaling confidence in further upside from current levels. Bank of America raises Seagate price target
• Positive Sentiment: Recent articles continue to highlight Seagate as a strong momentum and growth stock, supported by AI infrastructure demand, HAMR product wins, and a string of earnings beats. Zacks momentum article
• Neutral Sentiment: Some commentary suggests the stock has already had a huge run this year and may be pricing in much of the good news, which could limit near-term upside even if the long-term story remains strong. Up 250% YTD, Does Seagate Have More Upside Ahead?
• Neutral Sentiment: Zacks Research downgraded Seagate Technology (STX) from Strong Buy to Hold, which adds a note of caution after the stock’s sharp rally. Zacks downgrade
• Negative Sentiment: Several analysts and commentators are warning that Seagate may have less room to run after its rapid 2026 surge, with some preferring other AI storage names on valuation grounds. Seagate vs. Micron article

Analyst Ratings Changes

Several research firms recently commented on STX. JPMorgan Chase & Co. boosted their price objective on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Sanford C. Bernstein raised their target price on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. China Renaissance upped their price target on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Finally, Bank of America increased their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $880.52.

Seagate Technology Price Performance

The company has a market cap of $205.96 billion, a PE ratio of 86.99 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a 50 day moving average of $835.80 and a 200-day moving average of $540.40.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS 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 analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s dividend payout ratio is 28.08%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This represents a 18.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president owned 12,088 shares in the company, valued at $10,639,736.72. The trade was a 10.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 121,069 shares of company stock worth $98,747,112. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in 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 acquiring an additional 15 shares during the period. Salomon & Ludwin LLC grew its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. WealthCollab LLC grew its stake in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Seagate Technology during the 1st quarter valued at approximately $39,000. Finally, Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.