Seagate Technology (NASDAQ:STX) Price Target Raised to $245.00

Key Points

• Mizuho raised its target price for Seagate Technology from $160.00 to $245.00, indicating a potential upside of 13.09% from the stock's previous close.
• The latest earnings report showed Seagate Technology exceeded expectations with an EPS of $2.59 and revenue of $2.44 billion, reflecting a 29.5% year-over-year increase.
• Seagate's board has authorized a stock buyback program allowing for the repurchase of up to $5.00 billion in shares, indicating confidence in the stock's valuation.

Seagate Technology (NASDAQ:STX - Free Report) had its target price boosted by Mizuho from $160.00 to $245.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the data storage provider's stock.

STX has been the subject of several other reports. Citigroup lifted their price target on shares of Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a report on Monday, September 8th. The Goldman Sachs Group assumed coverage on Seagate Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $170.00 price target for the company. Susquehanna upped their target price on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their target price on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Bank of America lifted their target price on Seagate Technology from $170.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $177.95.

Seagate Technology Stock Performance

STX stock traded up $4.59 during trading on Friday, reaching $221.23. 4,831,576 shares of the company were exchanged, compared to its average volume of 3,680,065. The stock's 50 day moving average price is $166.69 and its 200 day moving average price is $126.04. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $221.66. The company has a market cap of $47.12 billion, a P/E ratio of 30.60, a PEG ratio of 1.28 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. 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 EPS for the current year.

Seagate Technology Announces Dividend

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

Insiders Place Their Bets

In related news, insider James Ci Lee sold 3,509 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $154.74, for a total value of $542,982.66. Following the completion of the transaction, the insider owned 1,288 shares of the company's stock, valued at approximately $199,305.12. This represents a 73.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 5,905 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the sale, the executive vice president owned 6,147 shares in the company, valued at approximately $952,785. The trade was a 49.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,935 shares of company stock worth $12,289,616. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Salvus Wealth Management LLC grew its position in shares of Seagate Technology by 2.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider's stock valued at $493,000 after acquiring an additional 68 shares during the period. Asset Dedication LLC raised its position in Seagate Technology by 9.5% in the second quarter. Asset Dedication LLC now owns 809 shares of the data storage provider's stock worth $117,000 after acquiring an additional 70 shares during the period. GoalVest Advisory LLC grew its holdings in shares of Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock worth $46,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of Seagate Technology by 2.2% in the second quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider's stock worth $503,000 after buying an additional 76 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Seagate Technology by 3.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider's stock worth $361,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

About Seagate Technology

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.