Seagate Technology (NASDAQ:STX) Hits New 52-Week High After Analyst Upgrade

Key Points

• Morgan Stanley raised its price target on Seagate (NASDAQ: STX) from $468 to $582, helping push the stock to a new 52-week high with an intraday peak near $470.23.
• Seagate beat expectations with quarterly EPS of $3.11 (vs. $2.77 est.) and revenue of $2.83 billion (up 21.5% YoY), and set Q3 2026 guidance of 3.20–3.60 EPS.
• Insiders have sold heavily—113,635 shares (~$47.1M) over the past 90 days—while institutional investors own about 92.87% of the stock; the company also declared a quarterly dividend of $0.74 (0.6% yield).

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $468.00 to $582.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $470.23 and last traded at $461.7830, with a volume of 1411463 shares changing hands. The stock had previously closed at $429.36.

Several other analysts have also weighed in on STX. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Zacks Research cut shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. TD Cowen increased their target price on shares of Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Finally, China Renaissance lifted their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $469.75.

Insider Buying and Selling

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the sale, the director owned 223 shares in the company, valued at $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,635 shares of company stock worth $47,133,843 over the last ninety days. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology during the 4th quarter worth $28,000. Avion Wealth increased its holdings in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Concord Wealth Partners bought a new stake in Seagate Technology during the 4th quarter valued at $28,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Up 7.7%

The firm has a market capitalization of $100.88 billion, a PE ratio of 52.29, a PEG ratio of 0.95 and a beta of 1.61. The company has a fifty day simple moving average of $404.33 and a two-hundred day simple moving average of $315.31. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.6%. Seagate Technology's payout ratio is currently 33.48%.

Seagate Technology Company Profile

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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