Seagate Technology (NASDAQ:STX) Stock Price Up 5.8% – Should You Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) rose 5.8% on Friday . The stock traded as high as $852.98 and last traded at $845.2630. Approximately 482,159 shares traded hands during trading, a decline of 89% from the average session volume of 4,336,057 shares. The stock had previously closed at $798.61.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on STX. Morgan Stanley boosted their price objective on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Susquehanna lifted their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Bank of America upped 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, Wedbush increased their price objective on shares of Seagate Technology from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Performance

The firm has a market cap of $189.88 billion, a price-to-earnings ratio of 60.42 and a beta of 2.06. The stock has a 50-day moving average of $852.94 and a 200-day moving average of $708.76. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s revenue was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Insider Activity

In other news, EVP Ban Teh sold 9,862 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $852.97, for a total value of $8,411,990.14. Following the completion of the sale, the executive vice president directly owned 5,210 shares of the company’s stock, valued at $4,443,973.70. This trade represents a 65.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 shares were sold at an average price of $816.28, for a total value of $24,488,400.00. Following the completion of the sale, the chief executive officer owned 295,168 shares in the company, valued at approximately $240,939,735.04. This trade represents a 9.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 191,765 shares of company stock valued at $161,865,249 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds have recently bought and sold shares of the stock. Retirement Wealth Solutions LLC lifted its holdings in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Seagate Technology by 23.1% in 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 buying an additional 15 shares in the last quarter. Blalock Williams LLC grew its holdings in shares of Seagate Technology by 2.6% during the 2nd quarter. Blalock Williams LLC now owns 636 shares of the data storage provider’s stock valued at $614,000 after purchasing an additional 16 shares during the last quarter. Finally, Beaumont Financial Advisors LLC grew its stake in shares of Seagate Technology by 2.1% during the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock worth $321,000 after buying an additional 17 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Seagate Technology

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.