Morgan Stanley Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target hoisted by Morgan Stanley from $265.00 to $270.00 in a research note published on Wednesday, MarketBeat Ratings reports. They currently have an overweight rating on the data storage provider’s stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald lifted their target price on Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. TD Cowen lifted their target price on Seagate Technology from $175.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna lifted their target price on Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research report on Wednesday. Wedbush boosted their price objective on Seagate Technology from $175.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Seagate Technology Stock Up 19.1%

STX stock opened at $265.62 on Wednesday. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $268.91. The stock’s 50 day moving average is $209.57 and its two-hundred day moving average is $154.82. The company has a market capitalization of $56.57 billion, a PE ratio of 34.10, a P/E/G ratio of 0.98 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, topping the consensus estimate of $2.40 by $0.21. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a negative return on equity of 229.36% and a net margin of 17.92%.The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, sell-side analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio (DPR) is currently 42.54%.

Insider Buying and Selling at Seagate Technology

In other news, insider James Ci Lee sold 1,116 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider directly owned 257 shares of the company’s stock, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 1,410 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $225.56, for a total value of $318,039.60. Following the sale, the executive vice president directly owned 18,041 shares of the company’s stock, valued at approximately $4,069,327.96. This represents a 7.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 72,111 shares of company stock valued at $13,921,073 over the last 90 days. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Interstate Bank purchased a new position in shares of Seagate Technology during the third quarter valued at $236,000. Sage Mountain Advisors LLC purchased a new position in shares of Seagate Technology during the third quarter valued at $417,000. Inscription Capital LLC purchased a new position in shares of Seagate Technology during the third quarter valued at $671,000. Root Financial Partners LLC purchased a new position in shares of Seagate Technology during the third quarter valued at $87,000. Finally, GKV Capital Management Co. Inc. grew its holdings in shares of Seagate Technology by 11.2% during the third quarter. GKV Capital Management Co. Inc. now owns 5,450 shares of the data storage provider’s stock valued at $1,287,000 after buying an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.