Seagate Technology (NASDAQ:STX) Stock Price Up 1.2% - What's Next?

Key Points

• Seagate shares rose 1.2% to $916.83, while trading volume was 36% below the average daily level. The stock trades above both its 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus, with 22 Buy, one Strong Buy, and four Hold ratings and an average price target of $986. Recent targets range as high as $1,300.
• Seagate exceeded quarterly expectations, reporting $5.71 EPS and $3.63 billion in revenue, with revenue up 48.5% year over year. The company also declared a $0.74 quarterly dividend, while insiders have sold substantial shares over the past 90 days.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report)'s share price was up 1.2% on Friday. The stock traded as high as $924.36 and last traded at $916.83. 2,762,944 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 4,331,688 shares. The stock had previously closed at $905.92.

Wall Street Analysts Forecast Growth

STX has been the subject of several research reports. Wall Street Zen downgraded shares of Seagate Technology from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 6th. Citigroup raised their price target on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Wedbush upped their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Mizuho boosted their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Finally, Susquehanna upped their price objective on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $986.00.

Seagate Technology Trading Up 1.2%

The company has a market cap of $208.48 billion, a price-to-earnings ratio of 66.05 and a beta of 2.06. The business has a fifty day simple moving average of $848.39 and a 200 day simple moving average of $757.14. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate 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%.Seagate Technology's quarterly revenue was up 48.5% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's payout ratio is 21.33%.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 97,889 shares of the company's 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 transaction, the chief executive officer directly owned 378,108 shares in the company, valued at approximately $291,952,311.12. This represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 9,354 shares of the business's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the completion of the transaction, the executive vice president directly owned 22,693 shares of the company's stock, valued at approximately $19,922,411.63. This represents a 29.19% 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. In the last 90 days, insiders have sold 466,959 shares of company stock worth $378,615,011. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in Seagate Technology by 85.9% during the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider's stock worth $8,637,000 after acquiring an additional 10,190 shares in the last quarter. USA Financial Formulas bought a new stake in Seagate Technology in the first quarter valued at about $1,328,000. UNICOM Systems Inc. raised its stake in Seagate Technology by 18.2% during the second quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider's stock valued at $41,978,000 after buying an additional 6,700 shares in the last quarter. Financial Insights Inc. bought a new position in Seagate Technology during the 2nd quarter worth approximately $706,000. Finally, Contravisory Investment Management Inc. lifted its holdings in Seagate Technology by 590.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,774 shares of the data storage provider's stock worth $1,712,000 after buying an additional 1,517 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.

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