Seagate Technology (NASDAQ:STX) Price Target Raised to $250.00

Seagate Technology (NASDAQ:STX) had its target price lifted by Rosenblatt Securities from $200.00 to $250.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the data storage provider’s stock.

A number of other equities analysts have also issued reports on STX. Bank of America increased their target price on shares of Seagate Technology from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. The Goldman Sachs Group assumed coverage on shares of Seagate Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $170.00 price target for the company. Barclays upped their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Mizuho upped their price target on shares of Seagate Technology from $160.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Cantor Fitzgerald upped their price target on shares of Seagate Technology from $175.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.32.

Seagate Technology Stock Up 8.8%

Shares of STX opened at $256.84 on Monday. The firm has a 50-day moving average price of $179.70 and a 200 day moving average price of $133.40. The firm has a market capitalization of $54.70 billion, a PE ratio of 37.94, a P/E/G ratio of 1.06 and a beta of 1.63. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $258.40.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Tuesday, September 30th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Seagate Technology’s dividend payout ratio is currently 42.54%.

Insider Buying and Selling

In other news, Director Jay L. Geldmacher sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the transaction, the director owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Ci Lee sold 3,509 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $154.74, for a total value of $542,982.66. Following the completion of the transaction, the insider owned 1,288 shares in the company, valued at $199,305.12. This represents a 73.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,935 shares of company stock worth $9,396,416 over the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the period. JPMorgan Chase & Co. increased its holdings in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock worth $1,607,321,000 after buying an additional 2,161,191 shares during the last quarter. State Street Corp increased its holdings in Seagate Technology by 5.0% in the second quarter. State Street Corp now owns 9,001,365 shares of the data storage provider’s stock worth $1,305,499,000 after buying an additional 432,455 shares during the last quarter. Geode Capital Management LLC increased its holdings in Seagate Technology by 1.9% in the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after buying an additional 85,660 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Seagate Technology by 3.6% in the first quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider’s stock worth $243,077,000 after buying an additional 99,884 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

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.