Seagate Technology (NASDAQ:STX) Hits New 52-Week High – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $459.41 and last traded at $428.9650, with a volume of 699749 shares. The stock had previously closed at $432.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on STX shares. Citigroup upped their price objective on Seagate Technology from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Benchmark increased their price target on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Argus boosted their price objective on Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, UBS Group upped their target price on shares of Seagate Technology from $335.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $417.57.

Seagate Technology Stock Up 2.0%

The firm’s 50 day simple moving average is $308.25 and its 200-day simple moving average is $241.71. The company has a market cap of $94.29 billion, a price-to-earnings ratio of 50.32, a P/E/G ratio of 0.94 and a beta of 1.62. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total value of $15,404,628.36. Following the transaction, the chief financial officer directly owned 56,293 shares in the company, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the completion of the sale, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at $122,760,816.20. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 123,976 shares of company stock worth $38,364,978. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $27,000. Salomon & Ludwin LLC raised its position in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at $28,000. Finally, Avion Wealth boosted its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.