Evercore Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target raised by Evercore from $450.00 to $550.00 in a research report report published on Wednesday,MarketScreener reports. The brokerage currently has an outperform rating on the data storage provider’s stock.

STX has been the topic of a number of other reports. Morgan Stanley increased their target price on shares of Seagate Technology from $468.00 to $582.00 and gave the stock an “overweight” rating in a report on Monday. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $500.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Robert W. Baird increased their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, KeyCorp set a $500.00 price objective on shares of Seagate Technology in a report on Wednesday, January 28th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $473.92.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $1.63 on Wednesday, reaching $497.93. 625,049 shares of the company’s stock were exchanged, compared to its average volume of 4,131,400. The firm has a market capitalization of $108.58 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 0.95 and a beta of 1.61. Seagate Technology has a fifty-two week low of $67.63 and a fifty-two week high of $517.18. The business’s 50-day moving average is $409.24 and its two-hundred day moving average is $319.96. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63.

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

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is 33.48%.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 113,635 shares of company stock worth $47,133,843. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently bought and sold shares of 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 valued at $27,000 after buying 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 valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the 4th quarter valued at 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 valued at $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Seagate Technology in the 4th quarter valued at about $28,000. 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.