Seagate Technology (NASDAQ:STX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

STX has been the subject of several other research reports. Morgan Stanley boosted their price target on Seagate Technology from $168.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. The Goldman Sachs Group began coverage on Seagate Technology in a research report on Thursday, July 10th. They issued a “buy” rating and a $170.00 price objective for the company. Wells Fargo & Company increased their price objective on Seagate Technology from $122.00 to $160.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Seagate Technology in a research report on Saturday, September 27th. Finally, TD Cowen increased their price objective on Seagate Technology from $135.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $193.32.

Seagate Technology Price Performance

Shares of STX opened at $252.79 on Thursday. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 1.14 and a beta of 1.63. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $264.83. The business’s 50-day moving average is $183.78 and its 200-day moving average is $135.66.

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

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology’s dividend payout ratio (DPR) is 42.54%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief executive officer directly owned 485,668 shares in the company, valued at $121,368,433.20. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction 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 transaction, the director owned 352 shares of the company’s stock, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock valued at $14,394,416 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jackson Wealth Management LLC acquired a new position in Seagate Technology during the third quarter worth $647,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Seagate Technology in the third quarter valued at $399,000. GAMMA Investing LLC increased its stake in shares of Seagate Technology by 14.8% in the third quarter. GAMMA Investing LLC now owns 5,697 shares of the data storage provider’s stock valued at $1,345,000 after buying an additional 733 shares in the last quarter. Park National Corp OH acquired a new stake in shares of Seagate Technology in the third quarter valued at $279,000. Finally, Vigilare Wealth Management acquired a new stake in shares of Seagate Technology in the third quarter valued at $292,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.