Loop Capital Raises Seagate Technology (NASDAQ:STX) Price Target to $700.00

Seagate Technology (NASDAQ:STX) had its price objective raised by analysts at Loop Capital from $465.00 to $700.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the data storage provider’s stock. Loop Capital’s target price would suggest a potential upside of 63.83% from the stock’s current price.

A number of other research firms have also recently issued reports on STX. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Benchmark lifted their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. UBS Group upped their price target on shares of Seagate Technology from $335.00 to $385.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Finally, Sanford C. Bernstein boosted their price objective on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $441.70.

Seagate Technology Trading Down 0.5%

STX stock opened at $427.28 on Monday. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $459.41. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The firm has a market cap of $93.18 billion, a P/E ratio of 48.78, a PEG ratio of 0.96 and a beta of 1.62. The company’s 50-day simple moving average is $320.55 and its 200-day simple moving average is $249.45.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.Seagate Technology’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities analysts forecast that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jay L. Geldmacher sold 925 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the sale, the director owned 223 shares of the company’s stock, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 137,976 shares of company stock valued at $45,330,378. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of STX. Coldstream Capital Management Inc. boosted its position in Seagate Technology by 1.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 8,716 shares of the data storage provider’s stock valued at $2,402,000 after buying an additional 163 shares during the period. Pathfinder Wealth Consulting Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $335,000. EverSource Wealth Advisors LLC lifted its position in shares of Seagate Technology by 9.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,202 shares of the data storage provider’s stock worth $607,000 after buying an additional 186 shares during the last quarter. Americana Partners LLC purchased a new stake in Seagate Technology in the fourth quarter valued at $600,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $80,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.