Seagate Technology (NASDAQ:STX) Price Target Raised to $330.00

Seagate Technology (NASDAQ:STX) had its target price lifted by Evercore ISI from $160.00 to $330.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the data storage provider’s stock.

A number of other brokerages have also weighed in on STX. Mizuho boosted their price objective on shares of Seagate Technology from $160.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Seagate Technology in a report on Wednesday, October 8th. TD Cowen boosted their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Benchmark boosted their price objective on shares of Seagate Technology from $165.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Citigroup boosted their price objective on shares of Seagate Technology from $167.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $214.89.

Seagate Technology Stock Up 3.7%

Shares of STX opened at $219.38 on Monday. The business’s 50 day moving average price is $195.03 and its 200-day moving average price is $143.09. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $264.83. The stock has a market cap of $46.72 billion, a P/E ratio of 32.40, a P/E/G ratio of 0.95 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a yield of 1.3%. Seagate Technology’s payout ratio is currently 42.54%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares in the company, valued at $121,368,433.20. This represents a 3.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Ci Lee sold 1,116 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider owned 257 shares of the company’s stock, valued at $39,413.52. This trade represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,620 shares of company stock worth $14,464,056. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $27,000. Rakuten Securities Inc. increased its stake in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $29,000. GoalVest Advisory LLC boosted its holdings in Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after buying an additional 75 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Seagate Technology in the 1st quarter worth $31,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.