Seagate Technology (NASDAQ:STX) Stock Price Up 5.9% - Still a Buy?

Key Points

• Seagate Technology shares jumped 5.9% on Monday, reflecting renewed investor interest in the stock amid stronger trading and sector momentum.
• Analysts turned more bullish on STX, with BofA raising its price target to $1,150 and Melius Research initiating coverage with a $1,600 target, while the consensus rating remains Moderate Buy.
• The company’s latest results were strong, with EPS of $4.10 and revenue of $3.11 billion, both above estimates, plus revenue growth of 44.1% year over year.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shot up 5.9% on Monday . The company traded as high as $886.89 and last traded at $868.26. 3,427,903 shares were traded during trading, a decline of 19% from the average session volume of 4,243,452 shares. The stock had previously closed at $820.16.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Memory and storage stocks are rebounding after analysts pointed to improving pricing trends and durable AI-driven demand, helping lift Seagate along with other sector names. Memory stocks rebound as analysts flag a buying opportunity
• Positive Sentiment: BofA recently raised its price target on Seagate to $1,150 and kept a Buy rating, reinforcing bullish sentiment around the company’s HDD business and AI storage exposure. Is Seagate (STX) the Best Pick and Shovel AI Stock to Invest In?
• Positive Sentiment: Melius Research initiated coverage of Seagate with a Buy rating and an even higher $1,600 target, adding another bullish analyst call to the stock’s backdrop. Melius Research Initiates Coverage of Seagate Technology (STX)
• Neutral Sentiment: Zacks listed Seagate among growth and technology-solutions names it likes for July, which supports a constructive medium-term tone but is not a major fundamental catalyst. 4 Stocks to Buy From a Prospering Technology Solutions Industry
• Neutral Sentiment: Another Zacks piece named STX a top-ranked growth stock for July, echoing the same favorable sentiment without adding new company-specific news. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June

Analyst Ratings Changes

Several analysts have recently commented on STX shares. Rosenblatt Securities increased their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. UBS Group lifted their target price on shares of Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Zacks Research lowered shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Mizuho upped their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Finally, 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. Twenty-one investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average target price of $880.52.

Seagate Technology Price Performance

The firm has a market capitalization of $194.69 billion, a PE ratio of 82.38 and a beta of 2.04. The stock's 50 day simple moving average is $853.32 and its two-hundred day simple moving average is $552.19. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology's quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Dividend Announcement

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

Insider Transactions at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of Seagate Technology stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares of the company's stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer directly owned 339,591 shares of the company's stock, valued at approximately $255,131,322.39. This represents a 8.12% 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. In the last ninety days, insiders have sold 151,069 shares of company stock valued at $126,191,753. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Seagate Technology

Large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Norges Bank purchased a new position in Seagate Technology in the fourth quarter valued at $498,363,000. Soroban Capital Partners LP raised its stake in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after buying an additional 943,170 shares during the last quarter. Hedge funds and other institutional investors 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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