Seagate Technology (NASDAQ:STX) Hits New 12-Month High - Should You Buy?

Key Points

• Seagate Technology hit a new 52-week high, with shares trading as high as $823.98 after a strong recent rally.
• Recent earnings came in well above expectations, with EPS of $4.10 versus estimates of $3.51 and revenue of $3.11 billion, up 44.1% year over year.
• Analysts remain constructive overall: several firms raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $709.13.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $823.98 and last traded at $813.5030, with a volume of 654735 shares traded. The stock had previously closed at $782.64.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald raised their target price on Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Jefferies Financial Group reissued a "hold" rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Citigroup raised their target price on Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Bank of America raised their target price on Seagate Technology from $700.00 to $840.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, Barclays raised their target price on Seagate Technology from $625.00 to $750.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $709.13.

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company has a 50 day moving average price of $476.41 and a 200 day moving average price of $369.68. The firm has a market cap of $183.90 billion, a PE ratio of 77.63 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period last year, the firm posted $1.90 EPS. Seagate Technology's quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at $152,779,151.07. This trade represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 102,723 shares of company stock worth $53,301,684 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after acquiring an additional 15 shares during the period. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after acquiring an additional 51 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Seagate Technology during the first quarter worth $39,000. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the fourth quarter worth $28,000. Finally, Concord Wealth Partners acquired a new position in Seagate Technology during the fourth quarter worth $28,000. 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.

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