Seagate Technology (NASDAQ:STX) Stock Price Up 3% – Still a Buy?

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price shot up 3% on Wednesday . The stock traded as high as $851.69 and last traded at $846.37. Approximately 2,063,357 shares traded hands during trading, a decline of 53% from the average session volume of 4,401,495 shares. The stock had previously closed at $821.67.

Key Seagate Technology News

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

• Positive Sentiment: Investors are increasingly viewing Seagate as an unexpected AI beneficiary. The company has reported record revenue growth and secured hyperscaler contracts extending through 2027, supporting the outlook for continued demand for high-capacity storage. The key longer-term question is whether Seagate’s technology investments can sustain that growth. Prediction: Seagate Could Be One of AI’s Most Unexpected Winners
• Positive Sentiment: Seagate was highlighted as a momentum stock alongside Western Digital and Dell, reflecting strong recent earnings performance and favorable price trends. Analysts currently give STX a consensus “Moderate Buy” rating and an average price target of $986, with several firms maintaining targets above $1,000.
• Positive Sentiment: The company’s latest quarterly results exceeded expectations: adjusted earnings were $5.71 per share versus a $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and management guided to fiscal first-quarter 2027 earnings of $7.10–$7.50 per share.
• Neutral Sentiment: Seagate declared its regular quarterly dividend of $0.74 per share, or $2.96 annualized. The payout provides modest income but is unlikely to be a major near-term catalyst given the stock’s low dividend yield.
• Negative Sentiment: Several executives sold shares, including the CEO, CFO and multiple executive vice presidents. Most transactions were made under pre-arranged Rule 10b5-1 plans, reducing their value as discretionary bearish signals, but the aggregate selling could still weigh on investor sentiment.
• Negative Sentiment: STX has recently been pressured by broader technology-sector weakness. Its high beta and elevated valuation could amplify volatility if investors reduce exposure to AI and other high-growth technology stocks.

Analysts Set New Price Targets

STX has been the topic of several recent research reports. Bank of America increased their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Wednesday, June 24th. BNP Paribas Exane upped their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Barclays raised their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Up 3.0%

The firm has a 50 day simple moving average of $884.55 and a two-hundred day simple moving average of $688.66. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $191.83 billion, a P/E ratio of 60.98 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company posted $2.59 EPS. The company’s revenue for the quarter 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, equities research analysts expect 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. Investors of record on Thursday, September 24th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,657 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $910.48, for a total transaction of $18,807,785.36. Following the completion of the transaction, the chief executive officer owned 320,860 shares of the company’s stock, valued at approximately $292,136,612.80. The trade was a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 14,091 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $811.25, for a total transaction of $11,431,323.75. Following the completion of the transaction, the chief financial officer directly owned 21,543 shares of the company’s stock, valued at $17,476,758.75. This trade represents a 39.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 193,765 shares of company stock worth $166,634,842 over the last 90 days. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Retirement Wealth Solutions LLC boosted its position in Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after buying an additional 12 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Seagate Technology during the second quarter worth $39,000. Trust Co. of Vermont acquired a new position in shares of Seagate Technology during the second quarter worth $54,000. Triumph Capital Management increased its holdings in shares of Seagate Technology by 93.5% during the second quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock worth $58,000 after buying an additional 29 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its stake in shares of Seagate Technology by 712.5% in the 2nd quarter. Washington Trust Advisors Inc. now owns 65 shares of the data storage provider’s stock valued at $62,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

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.