Seagate Technology (NASDAQ:STX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Seagate Technology (NASDAQ:STX) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on STX. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Morgan Stanley boosted their target price on shares of 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. Susquehanna increased their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a research note on Wednesday, July 29th. Finally, Argus boosted 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Stock Performance

NASDAQ:STX opened at $828.38 on Friday. The stock has a market cap of $187.75 billion, a P/E ratio of 59.68 and a beta of 2.06. The stock has a 50 day simple moving average of $865.57 and a 200 day simple moving average of $700.60. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. Seagate Technology has a 1-year low of $163.86 and a 1-year high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the firm posted $2.59 EPS. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Research analysts anticipate that Seagate Technology will post 35.7 earnings per share for the current 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 issued a $0.74 dividend. 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 0.4%. Seagate Technology’s dividend payout ratio is 21.33%.

Insider Buying and Selling

In related news, EVP James Ci Lee sold 9,013 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $794.84, for a total value of $7,163,892.92. Following the completion of the transaction, the executive vice president owned 347 shares of the company’s stock, valued at $275,809.48. This represents a 96.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 3,516 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $849.35, for a total transaction of $2,986,314.60. Following the completion of the transaction, the executive vice president directly owned 12,805 shares of the company’s stock, valued at approximately $10,875,926.75. The trade was a 21.54% decrease in their position. 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. Insiders sold a total of 162,015 shares of company stock worth $137,693,196 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC boosted its holdings in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 12 shares in the last quarter. Bridgewater Advisors Inc. increased its holdings in Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after purchasing an additional 13 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Blalock Williams LLC raised its position in Seagate Technology by 2.6% in the second quarter. Blalock Williams LLC now owns 636 shares of the data storage provider’s stock valued at $614,000 after purchasing an additional 16 shares during the last quarter. Finally, Beaumont Financial Advisors LLC raised its position in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.