Seagate Technology’s (STX) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Seagate Technology (NASDAQ:STX) in a research note issued to investors on Wednesday morning,RTT News reports. They currently have a $150.00 price target on the data storage provider’s stock. Wedbush also issued estimates for Seagate Technology’s FY2026 earnings at $12.87 EPS.

Several other research analysts have also weighed in on STX. Barclays upped their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. Northland Securities reiterated an “outperform” rating and set a $160.00 price objective (up from $144.00) on shares of Seagate Technology in a report on Wednesday. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Susquehanna raised their price target on Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Trading Up 6.8 %

NASDAQ:STX opened at $108.18 on Wednesday. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 28.25 and a beta of 1.06. Seagate Technology has a 1-year low of $82.31 and a 1-year high of $115.32. The business’s fifty day moving average price is $94.55 and its 200 day moving average price is $100.33.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.34) EPS. Equities analysts forecast that Seagate Technology will post 7.18 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.66%. Seagate Technology’s payout ratio is presently 75.20%.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,073 shares of company stock valued at $5,106,149. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Berkshire Bank grew its position in Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after buying an additional 103 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Seagate Technology by 49.8% during the 4th quarter. Pacer Advisors Inc. now owns 29,044 shares of the data storage provider’s stock worth $2,507,000 after purchasing an additional 9,656 shares in the last quarter. KBC Group NV increased its position in shares of Seagate Technology by 150.1% during the fourth quarter. KBC Group NV now owns 70,290 shares of the data storage provider’s stock valued at $6,066,000 after purchasing an additional 42,182 shares during the period. Blue Trust Inc. raised its stake in shares of Seagate Technology by 42.9% in the fourth quarter. Blue Trust Inc. now owns 3,407 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in Seagate Technology by 87.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock worth $740,000 after purchasing an additional 4,014 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.