Seagate Technology Holdings PLC (NASDAQ:STX) Stock Has Consensus Target Price of $1,000.88 According to Analysts

Key Points

• Analysts remain broadly positive: Seagate has a “Moderate Buy” consensus from 28 firms—23 buys and five holds—with an average 12-month price target of $1,000.88.
• Quarterly results topped expectations: Seagate reported EPS of $7.68 versus a $7.44 consensus and revenue of $4.23 billion, up 61% year over year. It also raised its quarterly dividend from $0.74 to $0.76 per share.
• Potential risks include insider selling and market pressure: Executives sold shares, reportedly to cover taxes on vested equity awards, while broader weakness in AI-linked stocks weighed on sentiment.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-eight ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $1,000.88.

STX has been the topic of a number of research reports. TD Cowen dropped their price target on Seagate Technology from $1,000.00 to $900.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Evercore reissued an "outperform" rating on shares of Seagate Technology in a report on Wednesday, October 28th. Rosenblatt Securities reduced their price objective on Seagate Technology from $1,400.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, October 26th. Susquehanna reduced their price objective on Seagate Technology from $925.00 to $765.00 and set a "neutral" rating for the company in a research report on Wednesday, October 28th. Finally, Barclays upped their price objective on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th.

Seagate Technology Trading Down 1.2%

NASDAQ STX opened at $460.99 on Friday. Seagate Technology has a one year low of $228.61 and a one year high of $1,145.00. The company has a 50-day simple moving average of $769.59 and a 200-day simple moving average of $693.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.82. The firm has a market capitalization of $105.83 billion, a PE ratio of 24.21 and a beta of 2.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, beating analysts' consensus estimates of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $2.61 EPS. The company's revenue for the quarter was up 61.0% compared to the same quarter last year. On average, equities analysts forecast that Seagate Technology will post 37.96 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be paid a $0.76 dividend. The ex-dividend date is Wednesday, December 23rd. This is a positive change from Seagate Technology's previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a yield of 0.7%. Seagate Technology's dividend payout ratio (DPR) is 15.97%.

Insider Activity

In related news, CEO William Mosley sold 97,889 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer owned 378,108 shares of the company's stock, valued at $291,952,311.12. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 John Morris sold 15,466 shares of Seagate Technology stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the sale, the executive vice president owned 31,132 shares in the company, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 447,108 shares of company stock worth $356,049,743. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STX. Retirement Wealth Solutions LLC grew its stake in Seagate Technology by 70.6% during the second 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 period. Bridgewater Advisors Inc. lifted its stake in Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock valued at $579,000 after buying an additional 13 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in Seagate Technology by 4.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider's stock valued at $295,000 after buying an additional 14 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after buying an additional 15 shares in the last quarter. Finally, One River Asset Management LLC boosted its holdings in shares of Seagate Technology by 50.0% during the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider's stock worth $42,000 after buying an additional 15 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Recent fiscal first-quarter results beat estimates, with revenue of $4.23 billion and EPS of $7.72. Seagate also guided to about $4.8 billion in fiscal second-quarter revenue, supporting the growth case. Earnings Beat Might Change The Case For Seagate Stock
• Positive Sentiment: Growth-focused commentary argues Seagate has attributes that could support above-market performance, adding to the bullish earnings narrative. The articles do not specify additional catalysts. 3 Reasons Growth Investors Will Love Seagate
• Negative Sentiment: A report attributed a sharp decline in Seagate shares to insider selling, which can raise concerns about insiders’ confidence, even though selling alone does not establish their outlook. Seagate Technology Stock Falls on Insider Selling
• Negative Sentiment: Seagate and other AI-linked stocks faced pressure amid a wider AI-trade selloff and calls from a lawmaker to pause advanced AI development. That uncertainty may temper enthusiasm around data-storage demand tied to AI investment. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development

About Seagate Technology

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers.

The company's products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.

Founded in 1979, Seagate has a long history in the hard disk drive industry.

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