UBS Group Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price upped by equities research analysts at UBS Group from $385.00 to $440.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the data storage provider’s stock. UBS Group’s price objective would indicate a potential upside of 7.58% from the stock’s current price.

A number of other research analysts have also recently commented on STX. Wedbush boosted their price objective on shares of Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Evercore increased their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. Finally, Bank of America upped their price target on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Eighteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $444.09.

Seagate Technology Stock Performance

NASDAQ:STX traded down $15.99 during midday trading on Monday, hitting $409.01. The company’s stock had a trading volume of 694,050 shares, compared to its average volume of 4,839,438. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $459.41. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The firm has a market cap of $89.19 billion, a P/E ratio of 46.21, a P/E/G ratio of 0.96 and a beta of 1.62. The firm’s 50 day moving average is $323.64 and its 200-day moving average is $251.37.

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

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the completion of the sale, the chief executive officer directly owned 410,056 shares of the company’s stock, valued at $176,024,739.12. This trade represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 137,976 shares of company stock valued at $45,330,378. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after purchasing an additional 442,749 shares during the period. State Street Corp boosted its stake in Seagate Technology by 3.1% in the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock worth $2,196,420,000 after buying an additional 274,913 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Seagate Technology in the 3rd quarter valued at about $1,187,621,000. Geode Capital Management LLC grew its holdings in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after buying an additional 234,436 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Seagate Technology by 1,072.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.