Seagate Technology (NASDAQ:STX) Shares Up 2.5% – Here’s Why

Seagate Technology Holdings PLC (NASDAQ:STX) traded up 2.5% during mid-day trading on Thursday . The stock traded as high as $816.68 and last traded at $803.13. 4,812,780 shares changed hands during trading, an increase of 11% from the average session volume of 4,322,525 shares. The stock had previously closed at $783.18.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate has significantly outperformed other AI-infrastructure stocks over the past year, while Wall Street remains optimistic. The consensus rating is “Moderate Buy,” with an average price target of $986, suggesting further upside from recent trading levels. Seagate performance versus AI infrastructure stocks
• Positive Sentiment: The bullish case is supported by Seagate’s latest quarterly results: earnings of $5.71 per share exceeded estimates of $5.10, revenue rose 48.5% year over year to $3.63 billion, and fiscal first-quarter 2027 EPS guidance was set at $7.10 to $7.50. Analysts have also raised several price targets following the report. Seagate earnings report
• Positive Sentiment: Seagate completed the retirement and exchange of approximately $150.7 million of 2028 notes. The transaction reduces upcoming debt obligations, although it also used about $151 million in cash and issued 1.65 million ordinary shares. Seagate 2028 notes retirement
• Neutral Sentiment: Seagate’s quarterly dividend remains $0.74 per share, or $2.96 annually, with a yield of approximately 0.4%. The payout provides modest shareholder income but is unlikely to be a major near-term catalyst. Seagate dividend and stock information
• Negative Sentiment: CEO William Mosley, CFO Gianluca Romano and EVPs John Morris and Ban Teh collectively sold large amounts of STX stock. The filings indicate that many transactions were conducted under pre-arranged Rule 10b5-1 plans or to cover tax withholding on vested equity awards, which reduces their value as a bearish signal but still created short-term selling pressure. Seagate insider sale filing

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a research note on Wednesday, July 29th. TD Cowen increased their price objective on Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Fox Advisors downgraded shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. China Renaissance upped their price objective on shares of Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Finally, Susquehanna boosted their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Price Performance

The company has a market cap of $182.58 billion, a price-to-earnings ratio of 57.85 and a beta of 2.06. The company’s fifty day moving average price is $844.88 and its two-hundred day moving average price is $735.67. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.The business’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 35.7 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, September 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is 21.33%.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Morris sold 15,466 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of Seagate Technology stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the transaction, the chief financial officer owned 70,756 shares of the company’s stock, valued at $54,634,952.96. This trade represents a 41.40% decrease in their position. 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 457,605 shares of company stock worth $370,403,041 in the last quarter. 0.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently made changes to their positions in STX. Bouchey Financial Group Ltd. purchased a new stake in Seagate Technology in the second quarter valued at approximately $377,000. Miramontes Capital LLC bought a new position in Seagate Technology during the second quarter valued at approximately $335,000. IPG Investment Advisors LLC raised its stake in shares of Seagate Technology by 16.0% during the second quarter. IPG Investment Advisors LLC now owns 1,032 shares of the data storage provider’s stock worth $997,000 after acquiring an additional 142 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Seagate Technology by 97.1% in the 2nd quarter. MCF Advisors LLC now owns 203 shares of the data storage provider’s stock valued at $196,000 after purchasing an additional 100 shares in the last quarter. Finally, Lotus Asset Management LLC bought a new position in shares of Seagate Technology during the 2nd quarter valued at $676,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc is a data storage technology company that develops and manufactures mass-capacity storage solutions for businesses and consumers. Its product portfolio is centered on hard disk drives (HDDs), which are used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computing.

The company also offers solid-state drives (SSDs), external storage products, storage systems, and related data-management and recovery services.