Seagate Technology (NASDAQ:STX) Trading Up 5.7% – Time to Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) shot up 5.7% during mid-day trading on Friday . The company traded as high as $808.65 and last traded at $787.66. Approximately 7,004,380 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 4,283,827 shares. The stock had previously closed at $745.49.

Key Seagate Technology News

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

• Positive Sentiment: Analysts and market commentators highlighted Seagate as one of the memory/storage names best positioned to benefit from global AI infrastructure spending, citing rising demand for advanced storage and improving revenue and margin trends. 4 Top-Ranked Memory Stocks to Buy as AI Infrastructure Expands Globally
• Positive Sentiment: Additional bullish coverage said Seagate could be a smaller AI stock with room to run, pointing to strong execution, expanding margins, and earnings growth potential that may continue to attract investors. Everyone’s Buying NVIDIA, but 2 Smaller AI Stocks Could Soar Higher
• Positive Sentiment: Seagate also received a favorable mention in an analyst blog round-up and in commentary describing the stock as benefiting from a strong cost advantage and AI-related storage demand. The Zacks Analyst Blog Highlights NVIDIA, AMD, Taiwan Semiconductor Manufacturing and Seagate
• Neutral Sentiment: Market-watch coverage noted Seagate underperformed some peers in recent trading sessions, suggesting investor enthusiasm has not been uniform across the storage group. Seagate Technology Holdings PLC stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Broader tech and chip-stock weakness, including pressure on the semiconductor index, is still weighing on the sector and can limit gains for Seagate despite its company-specific positives. The SOX Index Fell 16% in Less Than a Month
• Negative Sentiment: Tech stocks were under pressure overall, which may have contributed to weakness in Seagate shares even as the company’s long-term fundamentals remain tied to AI-driven storage demand. Sector Update: Tech Stocks Fall Thursday Afternoon

Wall Street Analyst Weigh In

Several research firms have recently commented on STX. Evercore boosted their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Wedbush lifted their price objective on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Argus boosted their target price on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Finally, Cantor Fitzgerald upped their target price on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $898.52.

Seagate Technology Price Performance

The stock has a 50 day moving average of $886.91 and a two-hundred day moving average of $588.06. 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 firm has a market capitalization of $176.62 billion, a P/E ratio of 74.73 and a beta of 2.04.

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 analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The business’s revenue was up 44.1% on a year-over-year basis. 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 14.14 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the sale, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Morris sold 1,364 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the transaction, the executive vice president directly owned 12,088 shares of the company’s stock, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter worth about $28,000. Avion Wealth lifted its holdings in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. 92.87% of the stock is currently 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.