Seagate Technology (NASDAQ:STX) Shares Up 6.8% – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shot up 6.8% during trading on Thursday . The stock traded as high as $434.91 and last traded at $434.2770. 2,839,676 shares were traded during mid-day trading, a decline of 32% from the average session volume of 4,155,829 shares. The stock had previously closed at $406.77.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STX shares. Wedbush increased their price objective on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Cantor Fitzgerald upped their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Morgan Stanley increased their price target on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $447.35.

Seagate Technology Stock Performance

The firm has a market capitalization of $94.81 billion, a price-to-earnings ratio of 49.18, a price-to-earnings-growth ratio of 0.94 and a beta of 1.61. The firm’s 50-day moving average price is $384.20 and its two-hundred day moving average price is $296.36. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s payout ratio is currently 33.48%.

Insider Transactions at Seagate Technology

In other news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the sale, the director owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 89,051 shares of company stock valued at $34,430,409. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Several hedge funds have recently modified their holdings of STX. WCM Investment Management LLC acquired a new position in Seagate Technology during the 3rd quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after buying an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares during the last quarter. Norges Bank bought a new stake in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Finally, Soroban Capital Partners LP boosted its position in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.