Seagate Technology (NASDAQ:STX) Trading Up 4.1% – Time to Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) shares rose 4.1% on Tuesday . The stock traded as high as $862.65 and last traded at $845.76. Approximately 3,408,291 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 4,188,589 shares. The stock had previously closed at $812.73.

Analyst Ratings Changes

STX has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price target on shares of Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price target on shares of Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. KeyCorp set a $500.00 price target on shares of Seagate Technology in a research note on Wednesday, January 28th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Loop Capital lifted their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $736.21.

Seagate Technology Trading Up 4.1%

The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The firm’s 50-day moving average price is $574.69 and its 200 day moving average price is $416.45. The company has a market capitalization of $189.64 billion, a P/E ratio of 80.24 and a beta of 1.98.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s payout ratio is presently 28.08%.

Insider Activity at Seagate Technology

In other news, EVP James Ci Lee sold 697 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $741.17, for a total transaction of $516,595.49. Following the completion of the sale, the executive vice president directly owned 324 shares of the company’s stock, valued at $240,139.08. The trade was a 68.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. The trade was a 68.44% 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. Insiders sold a total of 142,437 shares of company stock valued at $86,093,575 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology in the 4th quarter worth about $28,000. Avion Wealth grew its position in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the 4th quarter worth about $28,000. 92.87% of the stock is owned by 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.