Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) shot up 6.5% on Tuesday . The company traded as high as $925.44 and last traded at $904.38. 5,010,924 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 4,347,545 shares. The stock had previously closed at $849.28.
Seagate Technology News Roundup
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate expects fiscal 2027 revenue growth to exceed fiscal 2026, supported by cloud spending, AI adoption and expanding demand for mass-capacity storage. The outlook suggests momentum may continue beyond the company’s recent earnings growth. Can Seagate Sustain Its Strong Revenue Growth in Fiscal 2027?
- Positive Sentiment: Seagate’s HAMR technology and Mozaic platform are increasing drive capacity, exabyte shipments and efficiency, positioning the company to benefit from customers’ need for higher-capacity data-center storage. Seagate’s HAMR Bet is Paying Off
- Positive Sentiment: Commentary comparing Seagate with Vertiv identifies both as beneficiaries of AI infrastructure spending and highlights Seagate’s strong earnings performance. Reports that much of Seagate’s current production is already committed also point to robust near-term demand. The Two Most Compelling AI Infrastructure Plays Right Now
- Neutral Sentiment: Seagate completed the redemption of its exchangeable notes, an action that removes a financing obligation but does not materially change the company’s operating outlook. Seagate Completes Redemption of Exchangeable Notes
- Negative Sentiment: After roughly quadrupling over the past year and trading at a high earnings multiple, STX is vulnerable to profit-taking. Further upside depends on sustained AI demand, successful HAMR expansion and continued execution, leaving little room for disappointment. Price Prediction: Seagate Stock Will Hit $1000 on This Date
Wall Street Analysts Forecast Growth
STX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Citigroup raised their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Loop Capital lifted their target price on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Rosenblatt Securities upped their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $986.00.
Seagate Technology Trading Down 2.7%
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 firm has a market capitalization of $195.45 billion, a PE ratio of 62.13 and a beta of 2.06. The stock’s 50-day simple moving average is $847.74 and its 200-day simple moving average is $721.54.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the firm posted $2.59 EPS. The company’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, sell-side analysts expect that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.
Insider Transactions at Seagate Technology
In related news, EVP Ban Teh sold 9,862 shares of Seagate Technology stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $852.97, for a total transaction of $8,411,990.14. Following the sale, the executive vice president directly owned 5,210 shares in the company, valued at $4,443,973.70. The trade was a 65.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 30,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the transaction, the chief executive officer owned 295,168 shares of the company’s stock, valued at approximately $240,939,735.04. This trade represents a 9.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 186,323 shares of company stock worth $157,393,279 over the last quarter. Insiders own 0.79% of the company’s stock.
Hedge Funds Weigh In On Seagate Technology
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares during the period. Retirement Wealth Solutions LLC increased its stake in shares of Seagate Technology by 70.6% during the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Seagate Technology by 23.1% during the first 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 in the last quarter. Quarry LP purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $31,000. Finally, WealthCollab LLC lifted its holdings in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.
About Seagate Technology
Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.
The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.
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