Seagate Technology (NASDAQ:STX) Price Target Raised to $265.00

Seagate Technology (NASDAQ:STX) had its price target upped by Morgan Stanley from $168.00 to $265.00 in a research report sent to investors on Monday morning, MarketBeat.com reports. The firm currently has an overweight rating on the data storage provider’s stock.

Other equities research analysts have also issued reports about the company. Benchmark raised their price objective on Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Rosenblatt Securities raised their price target on shares of Seagate Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday. Barclays lifted their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Finally, UBS Group lifted their target price on Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.32.

Seagate Technology Price Performance

STX opened at $256.84 on Monday. The firm’s fifty day moving average price is $179.70 and its 200 day moving average price is $133.40. The stock has a market capitalization of $54.70 billion, a PE ratio of 37.94, a P/E/G ratio of 1.06 and a beta of 1.63. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $258.40.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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 business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities research analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s payout ratio is 42.54%.

Insiders Place Their Bets

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the sale, the chief executive officer directly owned 478,912 shares in the company, valued at $73,632,720. This trade represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Ci Lee sold 3,509 shares of Seagate Technology stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $154.74, for a total value of $542,982.66. Following the sale, the insider directly owned 1,288 shares in the company, valued at $199,305.12. The trade was a 73.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,935 shares of company stock worth $9,396,416. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently modified their holdings of the company. Personal CFO Solutions LLC acquired a new stake in shares of Seagate Technology in the first quarter valued at $223,000. Amalgamated Bank lifted its holdings in Seagate Technology by 0.8% in the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock valued at $2,545,000 after acquiring an additional 243 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Seagate Technology during the 1st quarter valued at about $272,000. Alps Advisors Inc. grew its stake in shares of Seagate Technology by 10.2% in the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider’s stock worth $23,687,000 after purchasing an additional 25,817 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Seagate Technology in the 1st quarter worth approximately $2,626,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Company Profile

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.