Seagate Technology (NASDAQ:STX) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $383.88 and last traded at $371.76, with a volume of 7080492 shares trading hands. The stock had previously closed at $358.29.

The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s payout ratio is currently 38.00%.

Key Seagate Technology News

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate reported $3.11 EPS and $2.83B revenue (both above consensus), delivered record margins and issued Q3 EPS guidance of $3.20–$3.60 (above Street estimates); this fundamental beat and stronger outlook are the main catalysts lifting the stock. Seagate Q2 Highlights
• Positive Sentiment: Demand commentary — Management said Seagate is effectively sold out through 2026 as AI-led data-center demand ramps, supporting visibility into revenue and pricing power for nearline capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Large analyst target upgrades — Multiple firms raised price targets and ratings after the print (examples: Robert W. Baird to $505, Cantor/Rosenblatt/TD Cowen to $500+, Evercore to $450 and Citigroup to $460), which likely amplified buying from momentum and institutional flows. Evercore Price Target Update
• Neutral Sentiment: Mixed analyst positioning — Some houses raised targets but a few major banks still have neutral/discounted targets relative to the rally (Goldman/UBS/Barclays still below the intraday highs), signaling differing views on sustainable valuation. Analyst Rating Coverage
• Neutral Sentiment: Dividend maintained — Seagate declared a quarterly dividend (modest yield ~0.7%), a shareholder-friendly item but unlikely to be a primary driver of the share move.
• Negative Sentiment: Insider sale — EVP James Ci Lee sold 673 shares recently, reducing his holdings materially; insider sales can be interpreted negatively by some investors even though the sale size is small relative to the market cap. SEC Form 4

Analyst Upgrades and Downgrades

STX has been the topic of several recent research reports. Bank of America upped their price objective on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Citigroup upped their price target on shares of Seagate Technology from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho lifted their price target on Seagate Technology from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Exane BNP Paribas upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $411.04.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the transaction, the director directly owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $299.31, for a total value of $422,625.72. Following the completion of the sale, the executive vice president owned 13,693 shares of the company’s stock, valued at $4,098,451.83. The trade was a 9.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 124,902 shares of company stock worth $34,819,987 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its position in shares of Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC bought a new stake in Seagate Technology during the 2nd quarter valued at $262,000. Public Employees Retirement System of Ohio purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $380,000. GC Wealth Management RIA LLC bought a new position in shares of Seagate Technology in the 2nd quarter worth $286,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Seagate Technology by 15.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 93,294 shares of the data storage provider’s stock worth $13,465,000 after purchasing an additional 12,551 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

The business has a 50-day moving average of $301.25 and a two-hundred day moving average of $236.62. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.62. The company has a market cap of $95.37 billion, a P/E ratio of 50.52, a P/E/G ratio of 1.29 and a beta of 1.60.

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.