Seagate Technology (NASDAQ:STX) Shares Up 1.8% - What's Next?

Key Points

• Seagate shares rose 1.8% in mid-day trading, with volume running above average as investors continued to bid up the stock amid strong momentum in the storage and AI-related trade.
• Recent commentary has been broadly bullish on Seagate’s AI demand opportunity, with analysts and screeners saying the stock may still have upside and could benefit from an earnings beat ahead of its upcoming report.
• Wall Street sentiment is constructive: several firms have raised price targets, and the stock now carries a “Moderate Buy” consensus with an average target price near $898.52, while analysts also note some caution after the rally.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shot up 1.8% during mid-day trading on Wednesday . The stock traded as high as $921.38 and last traded at $908.10. 5,239,351 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 4,307,935 shares. The stock had previously closed at $891.83.

Seagate Technology News Summary

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Investors are betting Seagate can benefit from fresh AI demand, with commentary suggesting the stock may still be undervalued relative to its growth outlook. Seagate (STX) Stock May Be 34% Undervalued On Fresh AI Demand News
• Positive Sentiment: Analysts and stock screeners are highlighting Seagate ahead of its upcoming earnings report, saying the company has the ingredients for an earnings beat. Seagate (STX) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Brokerage commentary and analyst roundups have continued to frame Seagate as a beneficiary of strong results and AI-driven growth, reinforcing bullish sentiment around the name. Top Analyst Reports for Johnson Johnson, Lam Research & Seagate
• Neutral Sentiment: A broader technology-stock rebound and ongoing volatility in the AI trade have helped lift sentiment across chip and storage names, which may be supporting Seagate alongside peers. 5 Things to Know Before the Stock Market Opens on Tuesday
• Neutral Sentiment: Jim Cramer recently noted Seagate’s strong comeback but suggested investors consider trimming positions ahead of earnings, which adds some caution despite the bullish momentum. Jim Cramer suggests trimming Seagate position after strong comeback ahead of July 28 earnings
• Negative Sentiment: Some of the recent excitement may already be priced in after a strong rally, and investors are watching whether upcoming results can justify the sharp move higher. Sandisk vs. Seagate Technology: What Do Their Revenue Trends Tell Investors About Their Roles in the Artificial Intelligence Ecosystem?

Analyst Upgrades and Downgrades

Several analysts recently commented on STX shares. Barclays raised their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. China Renaissance increased their price target on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Cantor Fitzgerald raised their price target on Seagate Technology from $1,000.00 to $1,300.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Melius Research initiated coverage on Seagate Technology in a report on Monday, June 29th. They set a "buy" rating and a $1,600.00 price objective on the stock. Finally, Susquehanna boosted their price objective on Seagate Technology from $615.00 to $775.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $898.52.

Seagate Technology Stock Performance

The stock has a fifty day moving average of $888.04 and a 200-day moving average of $599.64. The firm has a market capitalization of $203.62 billion, a P/E ratio of 86.16 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The business's 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. On average, research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th were given a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the sale, the chief financial officer directly owned 42,860 shares of the company's stock, valued at $37,724,943.40. The trade was a 2.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the transaction, the executive vice president owned 12,088 shares of the company's stock, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock valued at $126,191,753 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the stock. Walker Asset Management LLC acquired a new position in Seagate Technology during the second quarter worth $338,000. Ballast Inc. acquired a new stake in Seagate Technology in the 2nd quarter valued at about $222,000. Regent Peak Wealth Advisors LLC bought a new position in Seagate Technology during the second quarter worth about $354,000. Taylor & Morgan Wealth Management LLC increased its position in Seagate Technology by 8.8% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider's stock worth $582,000 after buying an additional 49 shares during the last quarter. Finally, Nolet Wealth Management LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $293,000. 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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