Seagate Technology (NASDAQ:STX) Price Target Raised to $440.00

Seagate Technology (NASDAQ:STX) had its price objective hoisted by UBS Group from $385.00 to $440.00 in a report released on Monday morning,MarketScreener reports. The brokerage currently has a neutral rating on the data storage provider’s stock.

Several other analysts also recently weighed in on STX. Barclays increased their target price on Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Morgan Stanley boosted their target price on shares of Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. Rosenblatt Securities raised their price target on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Citigroup boosted their price objective on shares of Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, The Goldman Sachs Group increased their target price on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $444.09.

Seagate Technology Trading Up 2.8%

Shares of NASDAQ STX opened at $407.25 on Monday. The business has a fifty day simple moving average of $329.20 and a 200-day simple moving average of $254.17. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $459.41. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The company has a market cap of $88.81 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 0.89 and a beta of 1.62.

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

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director owned 223 shares in the company, valued at $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 83,955 shares of company stock worth $29,925,749 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of large investors have recently bought and sold shares of STX. Stirlingshire Investments Inc. bought a new stake in Seagate Technology in the fourth quarter worth about $339,000. Vestor Capital LLC lifted its stake in Seagate Technology by 2,077.1% in the fourth quarter. Vestor Capital LLC now owns 15,000 shares of the data storage provider’s stock valued at $4,131,000 after purchasing an additional 14,311 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Seagate Technology by 109.8% during the 4th quarter. Empowered Funds LLC now owns 38,181 shares of the data storage provider’s stock worth $10,515,000 after acquiring an additional 19,983 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Seagate Technology by 13.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 8,878 shares of the data storage provider’s stock valued at $2,445,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its stake in Seagate Technology by 2.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,453 shares of the data storage provider’s stock worth $400,000 after purchasing an additional 36 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.