Shares of Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) shot up 1.7% on Tuesday . The stock traded as high as $885.00 and last traded at $845.35. 4,988,150 shares changed hands during trading, an increase of 13% from the average daily volume of 4,428,507 shares. The stock had previously closed at $831.06.
Key Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: AI demand is improving revenue visibility. BNP Paribas highlighted long-term customer orders, an unusual source of visibility for cyclical storage companies. The commitments support the view that data-center and AI infrastructure spending could sustain Seagate’s growth. BNP Paribas Resets Seagate Target After Stunning AI Signal
- Positive Sentiment: Seagate remains a favored momentum and AI-infrastructure stock. Analysts cited AI infrastructure spending, financial strength and earnings growth as reasons to include STX among August momentum candidates. Broader industry spending on AI infrastructure is expected to support demand for storage capacity. 5 Momentum Stocks to Buy for August Despite a Mixed July
- Positive Sentiment: Recent results and guidance exceeded expectations. Seagate reported quarterly EPS of $5.71 versus the $5.10 consensus estimate, while revenue reached $3.63 billion, up 48.5% year over year and above the $3.50 billion forecast. Its next-quarter EPS outlook of $7.10-$7.50 further supports the bullish earnings narrative.
- Neutral Sentiment: An executive sold shares under a scheduled plan. EVP James Ci Lee sold 694 shares for approximately $609,000 in a Rule 10b5-1 transaction, reducing his direct ownership by two-thirds. Because the sale was pre-arranged, it provides limited information about management’s current view of the business. Insider Selling: Seagate Technology EVP Sells 694 Shares
- Negative Sentiment: Valuation and sector volatility remain risks. Seagate recently fell with other memory and storage stocks as investors took profits and reassessed elevated valuations. With STX trading at a high earnings multiple and well below its 50-day average, further volatility could limit gains despite the improving AI outlook. Seagate and Western Digital Dive as Memory Stocks Cool
Analyst Upgrades and Downgrades
STX has been the subject of a number of recent research reports. Melius Research initiated coverage on shares of Seagate Technology in a research report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 target price for the company. Evercore lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Wednesday, June 24th. China Renaissance increased their target price on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Finally, Bank of America raised their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $986.00.
Seagate Technology Trading Up 1.7%
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 capitalization of $189.55 billion, a price-to-earnings ratio of 60.90 and a beta of 2.06. The firm has a fifty day moving average price of $897.28 and a 200-day moving average price of $633.59.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm earned $2.59 earnings per share. Seagate Technology’s revenue for the quarter was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 33.08 EPS for the current year.
Seagate Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is presently 21.33%.
Insider Activity at Seagate Technology
In related news, EVP James Ci Lee sold 694 shares of Seagate Technology stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $877.45, for a total value of $608,950.30. Following the transaction, the executive vice president directly owned 347 shares of the company’s stock, valued at $304,475.15. This trade represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 1,364 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the transaction, the executive vice president owned 12,088 shares of the company’s stock, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. 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 have sold a total of 143,860 shares of company stock worth $120,918,795 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.
Hedge Funds Weigh In On Seagate Technology
Several hedge funds and other institutional investors have recently modified their holdings of the business. Bridgewater Advisors Inc. grew its stake in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of 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 valued at $31,000 after purchasing an additional 15 shares during the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock worth $321,000 after purchasing an additional 17 shares during the period. Cornerstone Wealth Group LLC boosted its holdings in shares of Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after buying an additional 19 shares during the last quarter. Finally, WealthCollab LLC boosted its holdings in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. 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.
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