Seagate Technology (NASDAQ:STX) Shares Gap Up – Should You Buy?

Seagate Technology Holdings PLC (NASDAQ:STX) gapped up prior to trading on Wednesday. The stock had previously closed at $501.62, but opened at $546.24. Seagate Technology shares last traded at $549.1890, with a volume of 812,806 shares traded.

Key Headlines Impacting Seagate Technology

Investors following STX have been watching these headlines:

• Positive Sentiment: CoreWeave beat expectations and raised its 2026 guidance, reviving confidence that AI data-center construction will sustain demand for Seagate’s nearline storage products. Seagate Stocks Jump as CoreWeave Results Revive Nearline Storage Demand
• Positive Sentiment: Seagate launched the FireCuda Forge, a product combining SSD speed with HDD capacity, broadening its portfolio as demand for high-capacity storage grows. Seagate Expands Storage Portfolio With FireCuda Forge Launch
• Negative Sentiment: The rally follows a sharp multi-month selloff, and investors remain divided on whether the AI-related bounce can last; its durability may depend on how data-center investment is financed. Storage Stocks Rebound as CoreWeave Revives AI Trade

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald dropped their target price on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Wells Fargo & Company decreased their price target on Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. UBS Group reaffirmed a “buy” rating on shares of Seagate Technology in a research report on Monday, November 2nd. Argus lifted their price objective on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, TD Cowen dropped their price objective on shares of Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,000.88.

Seagate Technology Stock Down 1.2%

The company has a market capitalization of $125.14 billion, a price-to-earnings ratio of 28.63 and a beta of 2.16. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $746.01 and a two-hundred day moving average price of $697.37.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping the consensus estimate of $7.44 by $0.24. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the firm posted $2.61 earnings per share. The company’s revenue was up 61.0% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 37.96 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $3.04 annualized dividend and a yield of 0.6%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William Mosley sold 97,889 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer owned 378,108 shares in the company, valued at $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 15,466 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the transaction, the executive vice president owned 31,132 shares in the company, valued at approximately $24,038,573.80. The trade was a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 439,747 shares of company stock valued at $349,271,735 over the last ninety days. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of STX. Aberdeen Group plc boosted its stake in Seagate Technology by 1,752.1% in the third quarter. Aberdeen Group plc now owns 3,757,206 shares of the data storage provider’s stock valued at $3,465,421,000 after acquiring an additional 3,554,342 shares during the period. Wellington Management Group LLP raised its position in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after purchasing an additional 2,326,538 shares during the period. National Pension Service raised its position in shares of Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock worth $805,490,000 after purchasing an additional 6,944 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Seagate Technology by 8.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 748,798 shares of the data storage provider’s stock worth $690,316,000 after purchasing an additional 55,404 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of Seagate Technology by 53.8% in the 3rd quarter. Voya Investment Management LLC now owns 680,926 shares of the data storage provider’s stock worth $628,045,000 after purchasing an additional 238,296 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology develops and supplies data-storage products and solutions for businesses and consumers. Its portfolio includes hard disk drives (HDDs), solid-state drives, and storage systems designed for applications ranging from personal computing to large-scale data centers. The company’s products support cloud and enterprise storage, network-attached storage, video surveillance, gaming, and other uses that require digital data to be stored and accessed. Seagate also offers data-management and storage services through its Lyve platform.