Morgan Stanley Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target upped by research analysts at Morgan Stanley from $767.00 to $1,035.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the data storage provider’s stock. Morgan Stanley’s target price points to a potential upside of 2.37% from the stock’s previous close.

Several other analysts have also issued reports on STX. The Goldman Sachs Group upped their target price on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Argus increased their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, BNP Paribas Exane lifted their price objective on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $831.79.

Seagate Technology Stock Performance

Seagate Technology stock opened at $1,010.99 on Monday. The firm’s 50 day simple moving average is $709.54 and its 200 day simple moving average is $477.38. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market capitalization of $226.69 billion, a PE ratio of 94.69 and a beta of 2.04. Seagate Technology has a 1-year low of $127.61 and a 1-year high of $998.07.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the firm posted $1.90 EPS. The company’s revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, analysts expect that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This represents a 32.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the transaction, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. This represents a 34.42% 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 have sold a total of 160,629 shares of company stock worth $112,739,671 over the last quarter. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of STX. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares during the period. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. WealthCollab LLC grew its holdings in Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Seagate Technology during the first quarter valued at approximately $39,000. Finally, Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Institutional investors own 92.87% of the company’s stock.

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.