Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

• Benchmark analysts have raised their target price for Seagate Technology from $165.00 to $250.00, indicating a potential upside of 19.13% from its previous close.
• The company has reported a 29.5% increase in quarterly revenue year-over-year, alongside an earnings per share of $2.59 which surpassed the consensus estimate.
• Seagate Technology's board approved a $5.00 billion stock buyback program, allowing the company to repurchase up to 21.6% of its shares, signaling confidence in its stock value.

Seagate Technology (NASDAQ:STX - Free Report) had its target price hoisted by Benchmark from $165.00 to $250.00 in a research report report published on Tuesday morning,MarketScreener reports. They currently have a buy rating on the data storage provider's stock.

Several other brokerages have also recently commented on STX. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Bank of America increased their target price on Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Sanford C. Bernstein assumed coverage on Seagate Technology in a report on Tuesday, September 16th. They issued an "outperform" rating and a $250.00 price target on the stock. Wedbush reiterated an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, Robert W. Baird lifted their price objective on Seagate Technology from $120.00 to $188.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $177.95.

Seagate Technology Price Performance

Shares of STX traded up $4.59 on Tuesday, reaching $221.23. 4,831,576 shares of the stock traded hands, compared to its average volume of 3,534,323. The stock's 50-day moving average price is $166.69 and its 200-day moving average price is $125.77. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $221.66. The firm has a market cap of $47.11 billion, a price-to-earnings ratio of 32.68, a P/E/G ratio of 1.28 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities research analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. Seagate Technology's dividend payout ratio (DPR) is presently 42.54%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $144.66, for a total value of $2,893,200.00. Following the completion of the transaction, the chief executive officer directly owned 498,710 shares in the company, valued at $72,143,388.60. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Christopher Morris sold 15,347 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president directly owned 9,843 shares in the company, valued at $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock valued at $12,289,616 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Norges Bank acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $197,027,000. Boston Partners acquired a new stake in Seagate Technology during the 2nd quarter worth approximately $193,500,000. Soroban Capital Partners LP raised its holdings in Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after acquiring an additional 1,327,197 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after purchasing an additional 906,840 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.