Seagate Technology’s (STX) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Seagate Technology (NASDAQ:STX) in a report issued on Wednesday,Benzinga reports. Wedbush currently has a $1,000.00 price objective on the data storage provider’s stock.

Several other brokerages have also recently weighed in on STX. Argus raised their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Robert W. Baird set a $1,350.00 price objective on Seagate Technology in a report on Wednesday. TD Cowen raised their target price on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley cut their target price on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Barclays lifted their target price on Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Twenty-two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.88.

Seagate Technology Stock Performance

STX opened at $644.58 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $799.09 and its two-hundred day moving average price is $688.41. Seagate Technology has a 1-year low of $228.61 and a 1-year high of $1,145.00. The company has a market cap of $146.57 billion, a price-to-earnings ratio of 35.67 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.44 by $0.24. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business’s revenue was up 61.0% on a year-over-year basis. During the same period last year, the company earned $2.61 earnings per share. On average, analysts expect that Seagate Technology will post 36.37 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 0.5%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio is presently 15.55%.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This represents a 90.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 466,812 shares of company stock worth $378,583,042 in the last ninety days. 0.51% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

Hedge funds have recently bought and sold shares of the business. Richardson Financial Services Inc. raised its stake in shares of Seagate Technology by 40.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 892 shares of the data storage provider’s stock worth $823,000 after purchasing an additional 258 shares during the period. Ascent Group LLC grew its position in Seagate Technology by 1.8% during the third quarter. Ascent Group LLC now owns 7,529 shares of the data storage provider’s stock valued at $6,944,000 after buying an additional 135 shares during the period. 3Chopt Investment Partners LLC grew its position in Seagate Technology by 19.8% during the third quarter. 3Chopt Investment Partners LLC now owns 412 shares of the data storage provider’s stock valued at $380,000 after buying an additional 68 shares during the period. Compass Financial Management LLC bought a new position in Seagate Technology during the third quarter valued at about $584,000. Finally, Provenance Wealth Advisors LLC increased its holdings in Seagate Technology by 2,953.8% during the third quarter. Provenance Wealth Advisors LLC now owns 397 shares of the data storage provider’s stock worth $366,000 after buying an additional 384 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Roundup

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.