Seagate Technology (NASDAQ:STX) Trading 1.5% Higher – Here’s What Happened

Seagate Technology Holdings PLC (NASDAQ:STX)’s share price shot up 1.5% during trading on Wednesday . The company traded as high as $798.88 and last traded at $783.18. 3,352,611 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,331,379 shares. The stock had previously closed at $771.81.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate is being highlighted as a major beneficiary of rising AI-driven demand for high-capacity hard-disk drives. Fidelity’s investment commentary points to expanding hyperscale and data-center storage requirements, while Seagate’s latest quarterly results showed revenue growth of 48.5% year over year and earnings above expectations. Fidelity commentary on Seagate and AI storage demand
• Positive Sentiment: A Seagate-sponsored industry study found that 99% of organizations expect AI to increase storage needs, although only 38% believe they are fully prepared. The gap suggests potential future demand for Seagate’s mass-capacity storage products. Seagate AI storage research
• Positive Sentiment: Analyst sentiment remains favorable, with recent price-target increases and a consensus rating of “Moderate Buy.” Targets cited in the reports range as high as $1,300, reflecting expectations for strong nearline demand, hyperscale contracts and next-generation HAMR drive shipments. Seagate analyst ratings and price targets
• Neutral Sentiment: One report argues that Seagate could potentially reach $1,600 if AI-related storage demand continues to accelerate. However, the stock has already risen substantially, and investors are debating whether the expected growth is already reflected in its valuation. Seagate long-term price outlook
• Negative Sentiment: Multiple executives have recently sold shares, including CFO Gianluca Romano, CEO William Mosley and EVPs John Morris and Ban Teh. Most transactions were conducted under pre-arranged Rule 10b5-1 plans or to cover tax withholding on vested equity, which reduces their value as a bearish signal but may still weigh on sentiment. Seagate insider selling report
• Negative Sentiment: STX has also been pressured alongside other AI-linked technology stocks after prominent AI executives called for a slower, more cautious pace of frontier-model development. The market reaction raises concerns about the timing of AI infrastructure spending, even though Seagate’s underlying storage-demand outlook remains strong. AI technology sector selloff

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STX. JPMorgan Chase & Co. increased their price target on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Susquehanna lifted their price target on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Bank of America raised their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. One 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average is $846.41 and its 200 day moving average is $733.04. The stock has a market capitalization of $178.09 billion, a price-to-earnings ratio of 56.43 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the business posted $2.59 earnings per share. The firm’s quarterly 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. On average, analysts predict that Seagate Technology Holdings PLC will post 35.7 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s payout ratio is currently 21.33%.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William D. Mosley sold 97,889 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer directly owned 378,108 shares of the company’s stock, valued at $291,952,311.12. The trade was a 20.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 457,605 shares of company stock worth $370,403,041 in the last quarter. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Seagate Technology by 85.9% in the first quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after purchasing an additional 10,190 shares during the period. Tredje AP fonden boosted its position in shares of Seagate Technology by 446.6% in the fourth quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock worth $30,662,000 after buying an additional 90,968 shares during the period. USA Financial Formulas purchased a new stake in shares of Seagate Technology in the first quarter worth about $1,328,000. Financial Insights Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at about $706,000. Finally, Profund Advisors LLC raised its holdings in shares of Seagate Technology by 458.6% during the 4th quarter. Profund Advisors LLC now owns 20,282 shares of the data storage provider’s stock valued at $5,585,000 after buying an additional 16,651 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.