Seagate Technology (NASDAQ:STX) Stock Gets Price Target Cut from Susquehanna

Seagate Technology (NASDAQ:STX) had its price objective cut by Susquehanna from $925.00 to $765.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

STX has been the subject of a number of other reports. Weiss Ratings raised shares of Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Evercore reaffirmed an “outperform” rating on shares of Seagate Technology in a research report on Wednesday. Citigroup upped their target price on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wells Fargo & Company decreased their target price on Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Finally, UBS Group lowered their target price on Seagate Technology from $780.00 to $750.00 and set a “neutral” rating for the company in a research note on Wednesday. Twenty-two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,000.88.

Seagate Technology Stock Down 8.0%

STX opened at $644.58 on Wednesday. Seagate Technology has a 12 month low of $228.61 and a 12 month high of $1,145.00. The company has a current ratio of 1.82, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $799.09 and its 200-day moving average price is $688.41. The company has a market cap of $146.57 billion, a P/E ratio of 35.67 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, beating the consensus estimate of $7.44 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.61 EPS. On average, equities analysts expect that Seagate Technology will post 36.37 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 97,889 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer directly owned 378,108 shares of the company’s stock, valued at $291,952,311.12. The trade was a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares of the company’s stock, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 466,812 shares of company stock worth $378,583,042 over the last three months. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Retirement Wealth Solutions LLC grew its position in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after buying an additional 12 shares in the last quarter. Signature Equity Partners LLC increased its position in Seagate Technology by 383.3% during the 3rd quarter. Signature Equity Partners LLC now owns 29 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 23 shares during the period. Jones Financial Companies Lllp purchased a new position in Seagate Technology during the 2nd quarter valued at about $39,000. One River Asset Management LLC raised its holdings in shares of Seagate Technology by 50.0% in the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock valued at $42,000 after purchasing an additional 15 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the 3rd quarter worth approximately $42,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

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.