Seagate Technology (NASDAQ:STX) Sets New 52-Week High Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares reached a new 52-week high during trading on Thursday after Argus raised their price target on the stock from $170.00 to $300.00. The company traded as high as $268.91 and last traded at $265.62, with a volume of 9888366 shares traded. The stock had previously closed at $223.00.

STX has been the topic of several other reports. Morgan Stanley upped their price target on Seagate Technology from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna upped their price target on Seagate Technology from $80.00 to $150.00 and gave the stock a “negative” rating in a research note on Wednesday. Wedbush upped their price target on Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday. Fox Advisors boosted their target price on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday. Finally, Mizuho boosted their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $263.18.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the completion of the sale, the director directly owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ban Seng Teh sold 1,410 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 18,041 shares of the company’s stock, valued at $4,069,327.96. This trade represents a 7.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 45,090 shares of company stock valued at $9,759,648 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Seagate Technology by 12.9% during 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. Norges Bank acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $197,027,000. Boston Partners acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $193,500,000. Soroban Capital Partners LP lifted its stake in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after acquiring an additional 906,840 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

The company has a market capitalization of $54.49 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 1.17 and a beta of 1.63. The firm has a 50-day simple moving average of $213.78 and a two-hundred day simple moving average of $156.88.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.21. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.Seagate Technology’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 1.2%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is 36.97%.

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.