Seagate Technology (NASDAQ:STX) Stock Price Up 3.4% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX) traded up 3.4% on Monday. The company traded as high as $675.71 and last traded at $660.81. 4,120,823 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 4,401,292 shares. The stock had previously closed at $639.01.

Analyst Ratings Changes

Several research firms recently issued reports on STX. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Citigroup lifted their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley upped their price objective on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Barclays upped their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $973.40.

Seagate Technology Price Performance

The company’s 50 day moving average price is $842.38 and its 200 day moving average price is $804.55. 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 company has a market cap of $150.26 billion, a price-to-earnings ratio of 47.61 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter last year, the company posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were given a $0.74 dividend. The ex-dividend date was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Insider Activity

In other news, EVP John Morris sold 9,354 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the completion of the sale, the executive vice president owned 22,693 shares of the company’s stock, valued at approximately $19,922,411.63. This trade represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares of the company’s stock, valued at approximately $4,543,884.80. The trade was a 90.08% 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. Insiders sold a total of 466,959 shares of company stock valued at $378,840,741 over the last three months. 0.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Wealth Solutions LLC grew its holdings in shares of 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 purchasing an additional 12 shares during the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after buying an additional 13 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in Seagate Technology by 4.6% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock worth $295,000 after buying an additional 14 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares in the last quarter. Finally, Blalock Williams LLC grew its holdings in Seagate Technology by 2.6% during the 2nd quarter. Blalock Williams LLC now owns 636 shares of the data storage provider’s stock worth $614,000 after acquiring an additional 16 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.