Seagate Technology (NASDAQ:STX) Trading Up 1.1% Following Analyst Upgrade

Key Points

• Seagate stock rose 1.1% after Evercore boosted its price target to $1,000 from $750 and kept an Outperform rating. The shares traded as high as $831.99 during the session.
• Analyst sentiment is broadly positive, with multiple firms raising ratings or targets and the stock now carrying a consensus Moderate Buy view. The average target price across analysts is $719.54.
• Recent fundamentals have also supported the bullish case, as Seagate reported better-than-expected quarterly earnings and revenue, with record margins and about $1 billion in free cash flow. The company also said its quarterly dividend will be $0.74 per share.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report)'s stock price rose 1.1% during mid-day trading on Wednesday after Evercore raised their price target on the stock from $750.00 to $1,000.00. Evercore currently has an outperform rating on the stock. Seagate Technology traded as high as $831.99 and last traded at $817.35. Approximately 2,485,146 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 4,272,779 shares. The stock had previously closed at $808.79.

Other analysts have also issued reports about the company. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Mizuho lifted their price target on Seagate Technology from $565.00 to $700.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Susquehanna lifted their price target on Seagate Technology from $485.00 to $615.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. Wall Street Zen raised Seagate Technology from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Sanford C. Bernstein lifted their price target on Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $719.54.

Insider Activity

In related news, Director Stephanie Tilenius sold 1,580 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the transaction, the director owned 10,664 shares in the company, valued at approximately $8,175,129.04. This trade represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the sale, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. This represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 102,723 shares of company stock valued at $53,301,684 in the last 90 days. 0.79% of the stock is owned by insiders.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Evercore raised its price target on Seagate to $1,000 from $750 and kept an Outperform rating, signaling confidence that the stock still has meaningful upside. Seagate gets new $1,000 price target at Evercore after investor meeting
• Positive Sentiment: Analysts said Seagate’s HAMR technology and related growth opportunities are a major catalyst, reinforcing the view that higher-capacity storage demand from AI infrastructure could support earnings and valuation. Evercore ISI raises its Seagate stock price target to $1,000. HAMR technology growth is the major trigger
• Positive Sentiment: Seagate’s recent fiscal Q3 results were reported as stronger than expected, with record margins and about $1 billion in free cash flow, which is helping investor optimism about the company’s fundamentals. A Look At Seagate Technology Holdings (STX) Valuation After Strong Q3 Results And Growing AI Infrastructure Optimism
• Neutral Sentiment: Additional market coverage highlighted Seagate as a top tech holding in Louis Navellier’s portfolio and noted prior analyst upgrades, adding to the positive sentiment but not introducing new fundamental information. Seagate Technology Holdings Plc (STX) Poised for Robust Growth as a Top Tech Stock in Louis Navellier’s Portfolio
• Neutral Sentiment: Several pieces focused on Seagate’s strong longer-term stock performance and market capitalization, which are informative but unlikely to be the main driver of the day’s move. If You Invested $1000 In Seagate Technology Hldgs Stock 20 Years Ago, You Would Have This Much Today
• Neutral Sentiment: Short-interest data was largely unhelpful and appears noisy, so it does not materially change the outlook. Seagate Technology NASDAQ: STX Price Target Raised to $1,000.00 at Evercore

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. WCM Investment Management LLC purchased a new stake in Seagate Technology in the third quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership grew its stake in shares of 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 valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $498,363,000. Finally, Soroban Capital Partners LP grew its stake in shares of 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. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a 50 day moving average price of $500.14 and a two-hundred day moving average price of $382.23. The firm has a market capitalization of $183.27 billion, a price-to-earnings ratio of 77.55 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating 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 business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The company's revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts expect that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Announces Dividend

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 paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, June 24th. 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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