Seagate Technology (NASDAQ:STX) Shares Up 7% – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price was up 7% during trading on Wednesday . The stock traded as high as $892.00 and last traded at $878.21. 4,699,661 shares were traded during trading, an increase of 6% from the average daily volume of 4,433,304 shares. The stock had previously closed at $820.52.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal 2026 revenue and profitability above expectations, while non-GAAP gross margin expanded for the 13th consecutive quarter. The company also generated its strongest quarterly free cash flow in more than a decade, reinforcing the stock’s earnings and cash-generation appeal. How Seagate’s Strong Fiscal 2026 Beat and HAMR Momentum May Impact Seagate Technology Investors
• Positive Sentiment: Management’s fiscal 2027 guidance points to additional momentum, with expected earnings of roughly $7.10 to $7.50 per share in the first quarter. Analysts have been raising earnings estimates, a trend that can support further upside in STX shares. Surging Earnings Estimates Signal Upside for Seagate Stock
• Positive Sentiment: AI-related storage demand remains the primary growth catalyst. Seagate highlighted long-term demand, supply agreements extending beyond 2028 and its HAMR-based Mozaic platform, which is intended to support mid-20% exabyte growth. Rising margins and strong cash flow could position the company as an underappreciated AI infrastructure beneficiary. The Zacks Analyst Blog Highlights Seagate and NVIDIA
• Positive Sentiment: Strength across memory and storage stocks, including gains among SanDisk and SK Hynix, is providing a favorable sector backdrop for Seagate and signaling strong investor appetite for AI-related storage exposure. Memory Stocks Stay Strong
• Neutral Sentiment: Some valuation analysis suggests STX may still be below estimated intrinsic value, but the stock’s substantial multi-year gain and elevated valuation mean expectations are already high. Any slowdown in AI storage demand, margins or execution could limit additional upside. Seagate Stock Could Trade Below Fair Value While Earnings Look Full

Analyst Ratings Changes

A number of equities analysts have weighed in on STX shares. BNP Paribas Exane boosted their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Loop Capital lifted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Sanford C. Bernstein reissued an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Finally, Argus increased their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Price Performance

The firm has a 50-day simple moving average of $888.84 and a 200-day simple moving average of $662.62. The firm has a market capitalization of $220.54 billion, a PE ratio of 70.19 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, topping 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 firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business earned $2.59 EPS. The business’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts forecast that Seagate Technology Holdings PLC will post 34.42 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given 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%.

Insider Buying and Selling

In related news, EVP John Christopher Morris sold 168 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $817.76, for a total value of $137,383.68. Following the transaction, the executive vice president directly owned 11,920 shares of the company’s stock, valued at approximately $9,747,699.20. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 880 shares of Seagate Technology stock in a transaction on Friday, August 7th. The shares were sold at an average price of $845.12, for a total value of $743,705.60. Following the transaction, the chief financial officer owned 20,663 shares in the company, valued at $17,462,714.56. This trade represents a 4.08% 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 quarter, insiders have sold 156,289 shares of company stock valued at $131,838,265. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its holdings 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 purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Seagate Technology in the second quarter worth $262,000. Cerity Partners LLC raised its position 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. raised 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 period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after acquiring an additional 462 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.