Seagate Technology (NASDAQ:STX) Shares Up 5.7% After Analyst Upgrade

Key Points

• Seagate Technology's shares rose by 5.7% after Loop Capital upgraded its price target from $200 to $350, maintaining a buy rating for the stock.
• The company recently reported earnings of $2.59 per share, surpassing the expected $2.45, with a revenue increase of 29.5% year-over-year.
• Seagate announced a quarterly dividend of $0.72 per share, which reflects an annualized dividend yield of 1.3%.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares rose 5.7% during trading on Thursday after Loop Capital raised their price target on the stock from $200.00 to $350.00. Loop Capital currently has a buy rating on the stock. Seagate Technology traded as high as $231.35 and last traded at $231.82. Approximately 2,470,787 shares traded hands during trading, a decline of 38% from the average daily volume of 3,988,881 shares. The stock had previously closed at $219.38.

Several other equities analysts have also recently issued reports on STX. Cantor Fitzgerald boosted their price target on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Barclays boosted their price target on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Wells Fargo & Company boosted their price target on Seagate Technology from $160.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday. Mizuho boosted their target price on Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $227.65.

Insider Buying and Selling

In other Seagate Technology news, insider James Ci Lee sold 3,509 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider owned 1,288 shares of the company's stock, valued at $199,305.12. This represents a 73.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the transaction, the chief executive officer directly owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,620 shares of company stock valued at $14,464,056. Company insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Seagate Technology in the 3rd quarter worth $914,000. Yeomans Consulting Group Inc. purchased a new position in shares of Seagate Technology in the 3rd quarter worth $453,000. Park Capital Management LLC WI raised its position in Seagate Technology by 28.5% in the third quarter. Park Capital Management LLC WI now owns 5,027 shares of the data storage provider's stock valued at $1,187,000 after purchasing an additional 1,116 shares during the period. TrueWealth Advisors LLC raised its position in Seagate Technology by 2.8% in the third quarter. TrueWealth Advisors LLC now owns 5,002 shares of the data storage provider's stock valued at $1,181,000 after purchasing an additional 134 shares during the period. Finally, CWM LLC raised its position in Seagate Technology by 13.2% in the third quarter. CWM LLC now owns 10,595 shares of the data storage provider's stock valued at $2,501,000 after purchasing an additional 1,235 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

The firm has a 50-day simple moving average of $195.03 and a 200 day simple moving average of $143.09. The company has a market capitalization of $48.96 billion, a PE ratio of 33.93, a price-to-earnings-growth ratio of 0.95 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $1.05 earnings per share. The firm's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Seagate Technology's payout ratio is presently 42.54%.

Seagate Technology Company Profile

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.

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