Seagate Technology (NASDAQ:STX) Trading 3.9% Higher on Analyst Upgrade

Key Points

• Seagate Technology shares rose 3.9% after Susquehanna increased its price target from $615 to $775, though it kept a neutral rating. The stock also traded above its previous close on heavier-than-normal volume.
• Analyst sentiment remains broadly positive overall, with multiple firms raising targets and most covering analysts rating the stock a Buy or equivalent. MarketBeat reports an average rating of Moderate Buy and an average price target of $886.92.
• Seagate recently posted strong quarterly results, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion, up 44.1% year over year. The company also paid a quarterly dividend of $0.74 per share and guided Q4 2026 EPS at $4.80 to $5.20.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares were up 3.9% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $615.00 to $775.00. Susquehanna currently has a neutral rating on the stock. Seagate Technology traded as high as $862.41 and last traded at $860.02. Approximately 4,919,089 shares were traded during trading, an increase of 16% from the average daily volume of 4,248,596 shares. The stock had previously closed at $827.64.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Morgan Stanley boosted their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an "overweight" rating in a report on Monday, June 15th. Wall Street Zen upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Zacks Research cut shares of Seagate Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, UBS Group lifted their price target on shares of Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Twenty-one investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $886.92.

Insider Transactions at Seagate Technology

In related news, CFO Gianluca Romano sold 22,488 shares of the firm's stock in a transaction 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 directly owned 42,847 shares of the company's stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 owned by insiders.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate was highlighted as a top momentum name for July, with articles noting its strong one-year gains, earnings surprises, and growth expectations. Micron & 2 Momentum Stocks to Buy in July for Explosive Upside
• Positive Sentiment: Another market piece argued that Seagate’s massive run is not over, pointing to the ongoing hyperscaler storage cycle and AI infrastructure demand as key drivers. Seagate’s 485% Run Isn’t Over and Our Target Proves It
• Positive Sentiment: Seagate was also included in a list of stocks that may beat estimates again, reinforcing expectations for another strong quarterly report. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
• Positive Sentiment: Sentiment around the AI hardware and memory supply chain remained constructive, with commentary saying tight supply and margin gains at Seagate, Micron, and Western Digital could support pricing and earnings. Flash Crash or Cash? The AI Hardware Reset Investors Can’t Ignore (STX)
• Neutral Sentiment: Susquehanna raised its price target on Seagate from $615 to $775 but kept a neutral rating, suggesting the stock has already run far enough that some upside may be priced in. Benzinga report on Susquehanna price target increase
• Neutral Sentiment: Valuation-focused coverage noted that Seagate trades at a premium after a long rally, even while AI demand could still support further gains. Seagate (STX) Stock Trades At A Premium As Its 14x Run Tests Fair Value
• Negative Sentiment: The only clearly cautionary note was Susquehanna’s neutral stance and reduced upside relative to the current price, which could limit near-term enthusiasm after the stock’s steep run. Benzinga report on Susquehanna price target increase

Institutional Trading of Seagate Technology

Hedge funds have recently made changes to their positions in the business. Bridgewater Advisors Inc. increased its stake in Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after acquiring an additional 13 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 15 shares during the last quarter. Beaumont Financial Advisors LLC boosted its holdings in shares of Seagate Technology by 2.1% in the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock worth $321,000 after purchasing an additional 17 shares during the period. Cornerstone Wealth Group LLC boosted its holdings in shares of Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after purchasing an additional 19 shares during the period. Finally, WealthCollab LLC increased its position in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 3.9%

The company has a 50-day moving average price of $863.76 and a two-hundred day moving average price of $560.15. The stock has a market cap of $192.84 billion, a P/E ratio of 81.60 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

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, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors 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 of this dividend was Wednesday, June 24th. Seagate Technology's dividend payout ratio (DPR) is presently 28.08%.

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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