Seagate Technology (NASDAQ:STX) Sets New 52-Week High on Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $168.00 to $265.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $233.40 and last traded at $231.60, with a volume of 558720 shares. The stock had previously closed at $217.51.

Several other research analysts also recently commented on the stock. TD Cowen raised their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Benchmark raised their price objective on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Barclays increased their target price on shares of Seagate Technology from $180.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Finally, Wells Fargo & Company increased their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $193.32.

Insider Activity at Seagate Technology

In other news, insider James Ci Lee sold 1,116 shares of Seagate Technology stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares of the company’s stock, valued at approximately $39,413.52. The trade was a 81.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $211.26, for a total transaction of $79,645.02. Following the sale, the executive vice president directly owned 13,238 shares of the company’s stock, valued at $2,796,659.88. This represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,935 shares of company stock worth $12,289,616 in the last three months. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC raised its position in Seagate Technology by 35.8% in the 2nd quarter. Corient Private Wealth LLC now owns 24,583 shares of the data storage provider’s stock worth $3,548,000 after purchasing an additional 6,483 shares during the period. Capital A Wealth Management LLC raised its position in Seagate Technology by 871.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 602 shares of the data storage provider’s stock worth $87,000 after purchasing an additional 540 shares during the period. National Wealth Management Group LLC purchased a new position in Seagate Technology in the 2nd quarter worth $568,000. Caldwell Trust Co purchased a new position in Seagate Technology in the 2nd quarter worth $217,000. Finally, Valeo Financial Advisors LLC purchased a new position in Seagate Technology in the 2nd quarter worth $366,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

The company has a market cap of $49.47 billion, a PE ratio of 34.30, a PEG ratio of 0.98 and a beta of 1.53. The business’s 50-day moving average is $174.24 and its 200 day moving average is $130.83.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.2%. Seagate Technology’s payout ratio is presently 42.54%.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.