Seagate Technology (NASDAQ:STX) Price Target Raised to $1,180.00

Seagate Technology (NASDAQ:STX) had its target price hoisted by investment analysts at Wells Fargo & Company from $1,100.00 to $1,180.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the data storage provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 54.30% from the company’s current price.

Several other analysts also recently issued reports on the stock. Zacks Research downgraded shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Citigroup lifted their price objective on Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna raised their target price on Seagate Technology from $615.00 to $775.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Barclays upped their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, UBS Group increased their price objective on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $926.20.

Seagate Technology Stock Up 2.3%

STX traded up $17.45 during trading on Wednesday, reaching $764.75. 3,757,552 shares of the stock traded hands, compared to its average volume of 4,343,858. The stock has a market cap of $171.48 billion, a price-to-earnings ratio of 72.23 and a beta of 2.04. Seagate Technology has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock’s 50-day simple moving average is $894.95 and its two-hundred day simple moving average is $618.98.

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

Insider Activity

In related news, EVP Ban Seng Teh sold 989 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This trade represents a 18.73% decrease in their position. The transaction 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, EVP John Christopher Morris sold 1,364 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the transaction, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. This represents a 10.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,069 shares of company stock worth $126,191,753 in the last quarter. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the period. Avion Wealth grew its holdings in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Concord Wealth Partners bought a new stake in shares of Seagate Technology in the 4th quarter valued at $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Results exceeded expectations: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, above the roughly $5.10 analyst consensus, while revenue rose 48.5% year over year to $3.63 billion, ahead of estimates near $3.50 billion. Net income increased to $1.29 billion from $488 million a year earlier. Seagate Technology Fiscal Fourth-Quarter Results
• Positive Sentiment: Strong forward guidance: Seagate forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, both well above Wall Street expectations. The outlook suggests that demand and pricing momentum are continuing into the new fiscal year. Seagate Forecasts Upbeat Quarter
• Positive Sentiment: AI and data-center demand remain key catalysts: Management described demand from cloud and data-center customers as durable, supported by AI infrastructure expansion. Seagate is also advancing heat-assisted magnetic recording (HAMR) and its Mozaic platform to increase drive capacity without proportionate manufacturing investment. Seagate Q4 Earnings Call Highlights
• Positive Sentiment: Profitability and cash generation improved: Seagate highlighted record margins and $3.1 billion in fiscal 2026 free cash flow, strengthening the investment case and supporting shareholder returns. Cantor Fitzgerald reaffirmed an overweight rating, while Citi and Rosenblatt raised their price targets to $1,300 and $1,400, respectively.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The annualized yield is approximately 0.4%, making the announcement more relevant as a capital-allocation signal than as a major income catalyst.
• Negative Sentiment: Despite the earnings-driven rebound, STX remains exposed to elevated expectations after a substantial prior rally. Shares had recently fallen sharply amid broader concerns about the sustainability of the AI trade, and the stock’s high valuation and volatility could limit gains if future results fail to keep exceeding already-strong forecasts.

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.