Seagate Technology (NASDAQ:STX) Shares Gap Up – Time to Buy?

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) gapped up before the market opened on Thursday . The stock had previously closed at $993.25, but opened at $1,111.00. Seagate Technology shares last traded at $1,026.2320, with a volume of 1,001,436 shares trading hands.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Micron’s earnings beat and upbeat outlook sparked a broad rally in memory and chip stocks, lifting Seagate alongside peers such as Western Digital and SanDisk on expectations that AI infrastructure spending will keep driving storage demand. Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
• Positive Sentiment: Market commentary highlighted Seagate as an AI data-storage winner with improving revenue, margins, and pricing power, reinforcing the bullish thesis that the company is a key beneficiary of long-term AI storage demand. Seagate (STX) Gets Fresh Backing As An AI Data Storage Winner
• Neutral Sentiment: Analysts and investors continue to frame Seagate as a strong AI infrastructure play, but the stock has already had a huge run, so near-term moves may depend on whether the company can keep delivering on earnings and guidance. Is Seagate (STX) Turning AI-Fueled Pricing Power Into a More Durable Earnings Model?
• Negative Sentiment: Earlier this week, Seagate was hit by a sharp selloff tied to worries about leveraged AI spending, higher rate expectations, and weakness in South Korean chipmakers, showing the stock remains sensitive to shifts in sentiment across the AI hardware trade. Why Seagate (STX) Shares Are Getting Obliterated Today

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Bank of America lifted their price target on Seagate Technology from $900.00 to $1,000.00 in a research report on Monday, June 8th. Wedbush boosted their price objective on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Wells Fargo & Company increased their price objective on Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $831.79.

Seagate Technology Stock Up 2.8%

The company has a market cap of $229.02 billion, a PE ratio of 97.08 and a beta of 2.04. The stock has a 50-day moving average of $801.27 and a 200-day moving average of $521.30. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

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 business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts predict that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be issued 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 related news, CFO Gianluca Romano sold 22,488 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president 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. 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 141,069 shares of company stock valued at $107,161,712 in the last ninety days. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of 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 position in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth increased its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. 92.87% of the stock is currently owned by hedge funds and other 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.