Seagate Technology (NASDAQ:STX) Shares Up 2.4% – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares rose 2.4% on Tuesday . The stock traded as high as $826.90 and last traded at $820.52. 3,146,057 shares were traded during trading, a decline of 29% from the average daily volume of 4,432,234 shares. The stock had previously closed at $800.99.

Analyst Upgrades and Downgrades

STX has been the topic of several research reports. Morgan Stanley upped their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. TD Cowen boosted their price target on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Bank of America upped their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Rosenblatt Securities lifted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company boosted their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Stock Up 4.9%

The company has a market cap of $208.84 billion, a price-to-earnings ratio of 66.09 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The stock’s fifty day moving average is $888.94 and its two-hundred day moving average is $658.57.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the firm earned $2.59 earnings per share. The company’s revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. Seagate Technology’s payout ratio is presently 21.33%.

Insiders Place Their Bets

In other news, EVP James Ci Lee sold 694 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $877.45, for a total transaction of $608,950.30. Following the sale, the executive vice president owned 347 shares of the company’s stock, valued at $304,475.15. This trade represents a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 168 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $817.76, for a total transaction of $137,383.68. Following the transaction, the executive vice president directly owned 11,920 shares of the company’s stock, valued at $9,747,699.20. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 156,289 shares of company stock valued at $131,838,265. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC increased its position in Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Seagate Technology during the 2nd quarter valued at about $262,000. Cerity Partners LLC grew its stake in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. increased its position in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after purchasing an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after purchasing an additional 462 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.