Seagate Technology (NASDAQ:STX) Shares Up 2.9% on Analyst Upgrade

Key Points

• Seagate Technology shares rose 2.9% after Barclays increased its price target from $750 to $1,000 and reiterated an overweight rating. The stock traded as high as $888.95 during the session.
• Several other analysts also raised their targets on STX, contributing to a broadly bullish view. MarketBeat says the stock now carries an average rating of Moderate Buy with an average price target of $746.63.
• Seagate recently reported strong quarterly results, beating earnings and revenue estimates, and it also announced a $0.74 quarterly dividend. The company’s quarterly EPS guidance for Q4 2026 was set at 4.8 to 5.2.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report)'s share price shot up 2.9% during mid-day trading on Wednesday after Barclays raised their price target on the stock from $750.00 to $1,000.00. Barclays currently has an overweight rating on the stock. Seagate Technology traded as high as $888.95 and last traded at $870.66. 3,674,593 shares changed hands during trading, a decline of 12% from the average session volume of 4,180,575 shares. The stock had previously closed at $845.76.

A number of other analysts also recently issued reports on STX. Robert W. Baird raised their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Cantor Fitzgerald upped their price objective on Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Rosenblatt Securities increased their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Argus raised their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Morgan Stanley upped their price target on Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $746.63.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This represents a 68.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer directly owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. This represents a 34.42% 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 sold 142,437 shares of company stock valued at $86,093,575 over the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Seagate Technology by 23.1% in 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 in the last quarter. Salomon & Ludwin LLC boosted its holdings in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 51 shares during the period. WealthCollab LLC grew its stake in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Seagate Technology during the 1st quarter worth $39,000. Finally, Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Stock Up 2.9%

The business has a 50-day simple moving average of $583.93 and a 200-day simple moving average of $420.46. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The company has a market cap of $195.23 billion, a price-to-earnings ratio of 82.61 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its 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 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 in the prior year, the firm earned $1.90 earnings per share. The business's quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts anticipate that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology's payout ratio is presently 28.08%.

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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