Argus Increases Seagate Technology (NASDAQ:STX) Price Target to $900.00

Seagate Technology (NASDAQ:STX) had its target price raised by investment analysts at Argus from $750.00 to $900.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the data storage provider’s stock. Argus’ price objective suggests a potential upside of 6.09% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Susquehanna increased their target price on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. BNP Paribas Exane lifted their price objective on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Price Performance

STX traded up $83.88 during trading hours on Thursday, hitting $848.31. The company’s stock had a trading volume of 2,964,188 shares, compared to its average volume of 4,372,999. The stock has a market cap of $190.22 billion, a price-to-earnings ratio of 60.99 and a beta of 2.04. The business’s 50-day moving average price is $895.22 and its 200-day moving average price is $622.36. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology has a 12 month low of $144.75 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company posted $2.59 EPS. The business’s revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts expect that Seagate Technology will post 26.84 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO William D. Mosley sold 9,343 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the transaction, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at $287,972,545.14. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the sale, the chief financial officer owned 42,860 shares of the company’s stock, valued at approximately $37,724,943.40. This trade represents a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,069 shares of company stock valued at $126,191,753 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. Avion Wealth raised its stake in shares of Seagate Technology by 343.5% during 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 last quarter. Concord Wealth Partners purchased a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Strong earnings beat and outlook: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus, while revenue increased 48.5% year over year to $3.63 billion. Fiscal first-quarter 2027 guidance of $4.0 billion-$4.2 billion in revenue and $7.10-$7.50 in EPS was well above Wall Street expectations, reinforcing confidence in near-term growth. Seagate fiscal fourth-quarter results
• Positive Sentiment: AI storage demand remains durable: Cloud providers and data centers are reserving Seagate’s mass-capacity hard drives to store AI training data, model outputs and other rapidly expanding workloads. Management highlighted record profitability, 34% fiscal-year revenue growth and $3.1 billion in free cash flow. Reuters AI-driven storage demand report
• Positive Sentiment: Technology cycle and analyst support: Progress with heat-assisted magnetic recording (HAMR) and the Mozaic platform could improve capacity and operating leverage without requiring equivalent manufacturing investment. Several firms raised targets, including JPMorgan to $1,240, Citi to $1,300, Rosenblatt to $1,400 and one bullish analyst to $1,624; Zacks also upgraded STX to “strong buy.” Seagate HAMR analysis
• Neutral Sentiment: Risks and expectations: The rally follows a major run-up, leaving valuation and execution expectations elevated. Although most analysts became more bullish, Susquehanna maintained a neutral rating with an $875 target, underscoring potential sensitivity to AI-spending momentum, supply conditions and any evidence of slowing pricing power.

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.