Seagate Technology (NASDAQ:STX) Hits New 52-Week High – Time to Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) hit a new 52-week high on Thursday . The stock traded as high as $283.94 and last traded at $275.77, with a volume of 9044020 shares trading hands. The stock had previously closed at $250.38.

Analyst Ratings Changes

Several brokerages have weighed in on STX. Robert W. Baird lifted their target price on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Wedbush lifted their price target on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Sanford C. Bernstein set a $275.00 price target on Seagate Technology and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Rosenblatt Securities lifted their price target on Seagate Technology from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group lifted their price target on Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.18.

Seagate Technology Price Performance

The stock has a 50-day simple moving average of $219.68 and a 200 day simple moving average of $161.44. The company has a market capitalization of $58.89 billion, a PE ratio of 35.40, a P/E/G ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.21. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.Seagate Technology’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the transaction, the executive vice president directly owned 12,041 shares of the company’s stock, valued at $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the transaction, the chief executive officer owned 465,668 shares of the company’s stock, valued at $122,386,863.76. The trade was a 4.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 78,964 shares of company stock valued at $19,067,455. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. acquired a new position in Seagate Technology in the second quarter valued at $27,000. Rakuten Securities Inc. increased its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. MTM Investment Management LLC acquired a new position in Seagate Technology in the second quarter valued at $29,000. First Horizon Corp acquired a new stake in Seagate Technology during the third quarter worth about $33,000. Finally, Physician Wealth Advisors Inc. increased its stake in Seagate Technology by 43.7% during the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Seagate Technology

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.