Seagate Technology (NASDAQ:STX) Price Target Raised to $1,000.00

Seagate Technology (NASDAQ:STX) had its price target lifted by stock analysts at TD Cowen from $850.00 to $1,000.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. TD Cowen’s target price indicates a potential upside of 26.80% from the stock’s current price.

STX has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a report on Wednesday. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Barclays upped their price target on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, Melius Research assumed coverage on Seagate Technology in a report on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective for the company. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average target price of $957.20.

Seagate Technology Stock Up 5.5%

Shares of STX traded up $41.36 during trading hours on Wednesday, hitting $788.66. The company had a trading volume of 4,267,590 shares, compared to its average volume of 4,358,942. The stock has a market capitalization of $176.84 billion, a price-to-earnings ratio of 75.51 and a beta of 2.04. The firm has a fifty day moving average price of $894.95 and a 200-day moving average price of $618.98. Seagate Technology has a 52-week low of $138.30 and a 52-week high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts forecast that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insider Activity

In other news, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer directly owned 42,847 shares of the company’s stock, valued at $33,173,004.34. This represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock worth $126,191,753 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently added to or reduced their stakes in STX. PFA Pension Forsikringsaktieselskab bought a new stake in Seagate Technology in the 4th quarter valued at $23,882,000. New York State Teachers Retirement System boosted its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after purchasing an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. increased its holdings in shares of Seagate Technology by 56.5% in the fourth quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Seagate Technology by 64.5% in the fourth quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock worth $5,872,000 after purchasing an additional 8,358 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, exceeding the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, above expectations of approximately $3.50 billion. Seagate fiscal fourth-quarter results
• Positive Sentiment: Management forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, well above analyst expectations of roughly $3.7 billion in revenue and $5.63 in EPS. The outlook points to continued momentum from AI infrastructure and cloud-storage demand. Seagate upbeat forecast
• Positive Sentiment: Investors highlighted record profitability, fiscal 2026 annual revenue growth of 34%, and record free cash flow of $3.1 billion. Seagate also cited durable data-center demand, progress with its HAMR and Mozaic storage technologies, margin expansion and strong cash generation. Seagate earnings call highlights
• Positive Sentiment: Several analysts raised their targets following the results: Wells Fargo to $1,180, Rosenblatt to $1,400, Citigroup to $1,300, Wedbush to $1,000 and Susquehanna to $875. Cantor Fitzgerald reaffirmed an overweight rating with a $1,300 target, reinforcing bullish expectations for AI-related storage growth.
• Neutral Sentiment: Seagate’s quarterly dividend was declared at $0.74 per share, payable October 7 to shareholders of record September 24. The approximately 0.4% yield is supportive but unlikely to be a major near-term trading catalyst.
• Negative Sentiment: The broader memory and storage sector remains volatile, with SanDisk and Micron falling amid concerns about AI-trade sustainability and potential valuation contraction. Seagate’s elevated valuation and the fact that its shares had already priced in significant optimism could limit further gains if future results or guidance fall short.

Seagate Technology Company Profile

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.