Brokerages Set Seagate Technology Holdings PLC (NASDAQ:STX) Target Price at $447.35

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) have been given a consensus recommendation of “Moderate Buy” by the twenty-four brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $447.3478.

Several analysts have commented on STX shares. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. China Renaissance increased their target price on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Finally, TD Cowen increased their price objective on shares of Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, January 28th.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $384.76, for a total value of $7,695,200.00. Following the completion of the transaction, the chief executive officer owned 395,897 shares in the company, valued at $152,325,329.72. The trade was a 4.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 89,051 shares of company stock worth $34,430,409 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of the business. WCM Investment Management LLC acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its position in Seagate Technology by 1,072.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock worth $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after buying an additional 1,883,769 shares during the last quarter. Norges Bank purchased a new stake in Seagate Technology in the 4th quarter valued at $498,363,000. Finally, Boston Partners acquired a new stake in shares of Seagate Technology in the 2nd quarter worth $193,500,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 6.1%

STX opened at $374.33 on Tuesday. The company has a fifty day moving average of $370.05 and a two-hundred day moving average of $286.06. The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.78 and a beta of 1.61. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $459.84. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company posted $2.03 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, research analysts expect that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio is presently 33.48%.

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.