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

Key Points

• 52-week high: Shares hit a new 52-week high after Bank of America raised its price target to $605 and maintained a buy rating, with the stock trading as high as $554.99 (last ~$540.69).
• Several firms also lifted targets—Morgan Stanley to $582 and Cantor Fitzgerald to $650—leaving a MarketBeat consensus of "Moderate Buy" with a $502.67 consensus price target.
• Seagate beat quarterly estimates (EPS $3.11 vs. $2.77) and reported revenue up 21.5% YoY with Q3 2026 guidance of $3.20–$3.60 EPS, while insiders have sold 112,223 shares (~$46.7M) in the last 90 days.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) reached a new 52-week high on Monday after Bank of America raised their price target on the stock from $450.00 to $605.00. Bank of America currently has a buy rating on the stock. Seagate Technology traded as high as $554.99 and last traded at $540.6920, with a volume of 59868 shares. The stock had previously closed at $547.75.

Several other equities research analysts have also recently issued reports on STX. Morgan Stanley lifted their target price on Seagate Technology from $468.00 to $582.00 and gave the stock an "overweight" rating in a report on Monday, April 6th. TD Cowen raised their price target on Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Mizuho upped their price objective on Seagate Technology from $475.00 to $565.00 and gave the stock an "outperform" rating in a report on Friday, April 10th. Argus increased their target price on Seagate Technology from $300.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Finally, Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 4th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.67.

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the transaction, the director directly owned 223 shares of the company's stock, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 112,223 shares of company stock worth $46,711,217. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently bought and sold shares of the business. Salomon & Ludwin LLC lifted its holdings in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the fourth quarter worth approximately $28,000. Concord Wealth Partners purchased a new position in Seagate Technology during the 4th quarter worth $28,000. Avion Wealth raised its position in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Quarry LP bought a new stake in Seagate Technology during the 4th quarter valued at $31,000. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Down 2.6%

The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The company has a fifty day simple moving average of $422.54 and a two-hundred day simple moving average of $334.96. The firm has a market capitalization of $116.34 billion, a PE ratio of 60.34, a PEG ratio of 1.19 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The firm's quarterly revenue was up 21.5% on a year-over-year basis. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology's dividend payout ratio (DPR) is presently 33.48%.

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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