Seagate Technology (NASDAQ:STX) Given New $370.00 Price Target at Sanford C. Bernstein

Seagate Technology (NASDAQ:STX) had its target price lifted by Sanford C. Bernstein from $275.00 to $370.00 in a research report released on Thursday morning,MarketScreener reports. They currently have an outperform rating on the data storage provider’s stock.

Other analysts have also recently issued reports about the stock. Evercore ISI increased their price objective on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Susquehanna upped their target price on shares of Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a report on Wednesday, October 29th. TD Cowen raised their price target on Seagate Technology from $175.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Cantor Fitzgerald boosted their price objective on Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Mizuho upped their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.95.

Seagate Technology Stock Performance

Shares of NASDAQ STX traded up $0.88 during trading on Thursday, hitting $279.35. The company had a trading volume of 5,090,303 shares, compared to its average volume of 4,092,191. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $284.42. The firm has a market capitalization of $59.66 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63. The stock has a 50 day simple moving average of $221.80 and a 200 day simple moving average of $162.25.

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

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be given a dividend of $0.74 per share. The ex-dividend date is Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.1%. Seagate Technology’s dividend payout ratio (DPR) is 38.00%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the sale, the chief executive officer directly owned 465,668 shares in the company, valued at approximately $122,386,863.76. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $269.10, for a total value of $336,375.00. Following the transaction, the director owned 1,148 shares of the company’s stock, valued at $308,926.80. This represents a 52.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,964 shares of company stock valued at $19,067,455 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently bought and sold shares of the business. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the second quarter valued at $27,000. Rakuten Securities Inc. increased its holdings 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 buying an additional 168 shares during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at about $29,000. First Horizon Corp bought a new position in shares of Seagate Technology in the 3rd quarter valued at about $33,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in shares of Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

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.