Seagate Technology (NASDAQ:STX) Trading Up 6.3% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price was up 6.3% on Friday . The stock traded as high as $852.98 and last traded at $849.28. 2,541,727 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 4,348,741 shares. The stock had previously closed at $798.61.

Seagate Technology News Summary

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

• Positive Sentiment: Investor demand for memory stocks widened beyond NAND on Friday, lifting storage-related shares including Seagate. The move suggests expectations for strong pricing, improving industry conditions and sustained AI-driven demand for data-center storage. SK Hynix Surges 7% as Memory Bid Widens Beyond NAND; Seagate Rallies 5%
• Positive Sentiment: AI-related stocks are among the market’s strongest performers, providing a favorable backdrop for Seagate because cloud providers and data centers require increasing storage capacity. Memory, Other AI-Related Stocks Lead the Market’s Top Performers Friday
• Positive Sentiment: Industry commentary remains constructive on memory valuations, citing strong pricing, rapid market growth and shifting competitive positions across major suppliers. That optimism is supporting the wider storage trade, including STX. Why This Analyst Says Memory Stock Valuations Make a Lot of Sense
• Neutral Sentiment: Seagate’s latest results provide fundamental support: quarterly revenue rose 48.5% year over year to $3.63 billion, while EPS of $5.71 exceeded estimates. Management’s Q1 fiscal 2027 EPS guidance is $7.10 to $7.50.
• Neutral Sentiment: Director Yolanda Lee Conyers sold 750 shares for approximately $611,333, and CEO William Mosley sold 30,000 shares for about $24.5 million. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary signals, although the sales may attract some investor caution.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Susquehanna lifted their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The stock has a 50 day moving average of $852.94 and a 200 day moving average of $708.76. The stock has a market capitalization of $192.49 billion, a P/E ratio of 61.19 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the business posted $2.59 earnings per share. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts predict that Seagate Technology Holdings PLC will post 35.7 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Insider Activity

In related news, CFO Gianluca Romano sold 14,091 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $811.25, for a total value of $11,431,323.75. Following the completion of the transaction, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This represents a 39.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the sale, the chief executive officer owned 295,168 shares in the company, valued at approximately $240,939,735.04. This represents a 9.23% decrease in their ownership of the stock. 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. Insiders have sold a total of 191,765 shares of company stock worth $161,865,249 in the last quarter. Company 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 business. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Retirement Wealth Solutions LLC grew its holdings in Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 12 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position 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 worth $31,000 after acquiring an additional 15 shares in the last quarter. Quarry LP acquired a new stake in Seagate Technology in the 4th quarter valued at about $31,000. Finally, WealthCollab LLC lifted its holdings in Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. 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.