Seagate Technology (NASDAQ:STX) Stock Price Up 11.1% - Here's Why

Key Points

• Seagate Technology stock jumped 11.1% in Tuesday trading, with volume rising to more than 6 million shares, well above its average daily volume.
• Investor sentiment was boosted by bullish analyst and brokerage commentary, with multiple firms raising price targets and rating the stock overweight or buy amid expectations tied to AI and memory demand.
• Recent operating results also supported the rally, as Seagate beat quarterly earnings and revenue estimates and projected Q4 2026 EPS of $4.80 to $5.20.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) traded up 11.1% during trading on Tuesday . The company traded as high as $899.95 and last traded at $891.83. 6,027,222 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 4,296,862 shares. The stock had previously closed at $802.45.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Zacks says Seagate appears positioned for an earnings beat in its upcoming report, highlighting favorable fundamentals ahead of results. Seagate (STX) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Analyst coverage highlighted Seagate as one of the day’s top picks, with AI demand and growth expectations supporting sentiment toward the stock. The Zacks Analyst Blog Highlights Johnson & Johnson, Lam Research, Seagate, KVH Industries and Dawson Geophysical
• Positive Sentiment: Broker commentary also pointed to Seagate as a beneficiary of strength in memory and AI-related infrastructure stocks after the recent selloff in the group. Banking giant names 7 stocks to buy after memory equities sell-off
• Neutral Sentiment: Jim Cramer suggested trimming the position after Seagate’s strong rebound heading into earnings, which may reflect caution after the stock’s sharp run-up rather than a change in the company’s fundamentals. Jim Cramer suggests trimming Seagate position after strong comeback ahead of July 28 earnings

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STX shares. JPMorgan Chase & Co. raised their target price on Seagate Technology from $775.00 to $920.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Cantor Fitzgerald upped their price target on Seagate Technology from $1,000.00 to $1,300.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Wells Fargo & Company upgraded shares of Seagate Technology from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $900.00 to $1,100.00 in a research report on Friday, July 10th. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Bank of America upped their target price on shares of Seagate Technology from $1,000.00 to $1,150.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $898.52.

Seagate Technology Trading Up 11.1%

The business has a 50 day simple moving average of $886.38 and a 200-day simple moving average of $595.30. The stock has a market capitalization of $199.97 billion, a price-to-earnings ratio of 84.61 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS 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 company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $1.90 earnings per share. Seagate Technology's 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. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current year.

Seagate Technology Announces Dividend

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

Insider Activity at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of the company's stock in a transaction that occurred on 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 owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares of the company's stock, valued at $255,131,322.39. This represents a 8.12% decrease in their position. 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. In the last three months, insiders sold 151,069 shares of company stock worth $126,191,753. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC grew its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the 4th quarter worth approximately $28,000. Avion Wealth boosted 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 worth $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology during the 4th quarter worth approximately $28,000. 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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