Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) rose 2.1% during trading on Thursday . The company traded as high as $869.71 and last traded at $850.24. 3,233,244 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 4,445,080 shares. The stock had previously closed at $832.56.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on STX shares. BNP Paribas Exane increased their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Mizuho upped their target price on shares of Seagate Technology from $875.00 to $1,090.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Barclays raised their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Bank of America lifted their price target on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Argus boosted their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $986.00.
Read Our Latest Stock Analysis on STX
Seagate Technology Stock Up 2.1%
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its 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 firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company earned $2.59 EPS. The company’s quarterly revenue 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, analysts expect that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.
Seagate Technology Dividend Announcement
The firm 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. The ex-dividend date is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 20,657 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $910.48, for a total value of $18,807,785.36. Following the sale, the chief executive officer directly owned 320,860 shares in the company, valued at $292,136,612.80. The trade was a 6.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 7,361 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $920.80, for a total transaction of $6,778,008.80. Following the sale, the executive vice president owned 2,931 shares in the company, valued at $2,698,864.80. This represents a 71.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 133,650 shares of company stock valued at $116,077,574 in the last three months. Corporate insiders own 0.79% of the company’s stock.
Institutional Investors Weigh In On Seagate Technology
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Seagate Technology during the 4th quarter worth about $23,882,000. New York State Teachers Retirement System grew its holdings in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Praxis Investment Management Inc. raised its position in Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after purchasing an additional 2,389 shares during the period. NewEdge Advisors LLC raised its position in Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock worth $8,637,000 after purchasing an additional 10,190 shares during the period. Finally, Caprock Group LLC lifted its stake in Seagate Technology by 25.3% in the fourth quarter. Caprock Group LLC now owns 18,248 shares of the data storage provider’s stock worth $5,043,000 after purchasing an additional 3,680 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
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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