Seagate Technology (NASDAQ:STX) Given New $450.00 Price Target at Evercore ISI

Seagate Technology (NASDAQ:STX) had its target price upped by research analysts at Evercore ISI from $330.00 to $450.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 1.21% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on STX. Robert W. Baird lifted their price target on shares of Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday. China Renaissance increased their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Susquehanna upgraded Seagate Technology from a “negative” rating to a “neutral” rating and lifted their price objective for the stock from $150.00 to $280.00 in a research report on Friday, January 16th. Citigroup increased their price objective on shares of Seagate Technology from $320.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company lifted their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $407.78.

Seagate Technology Trading Up 0.4%

Shares of STX stock traded up $1.69 on Wednesday, reaching $444.62. 1,216,207 shares of the company’s stock were exchanged, compared to its average volume of 4,292,016. The company’s fifty day simple moving average is $297.13 and its 200 day simple moving average is $235.15. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $454.35. The stock has a market capitalization of $94.95 billion, a PE ratio of 57.22, a P/E/G ratio of 1.08 and a beta of 1.60.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 462.62% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, sell-side analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the transaction, the chief financial officer owned 56,293 shares in the company, valued at $16,052,511.88. This represents a 48.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Ci Lee sold 673 shares of Seagate Technology stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares in the company, valued at $89,654.45. This represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 126,152 shares of company stock valued at $35,156,362. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology in the second quarter worth about $27,000. Salomon & Ludwin LLC raised its stake 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 purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its stake 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 in the last quarter. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology in the fourth quarter valued at about $28,000. Finally, Avion Wealth raised its stake in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Q2 results beat and management raised Q3 guidance — Seagate reported stronger-than-expected fiscal Q2 revenue and EPS and issued Q3 guidance above consensus, citing robust data‑center / AI demand; that drove much of the rally. BusinessWire: Seagate Q2 Results
• Positive Sentiment: Demand outlook: management says Seagate is “sold out through 2026,” signaling sustained enterprise/AI storage demand that supports revenue visibility and capacity pricing. Benzinga: Seagate Sold Out Through 2026
• Positive Sentiment: Analysts raise targets — Several firms (Cantor, TD Cowen, Rosenblatt and others) bumped targets toward $500 and Baird raised its PT to $505, signaling higher upside expectations tied to the results and AI tailwinds. Benzinga: Analyst Price Target Moves
• Neutral Sentiment: Market recognition: STX hit record intraday highs after the print and is seeing broad media/analyst coverage highlighting margins, guidance and AI exposure. Schaeffers: Record High on Earnings
• Neutral Sentiment: Mixed analyst views remain — some firms raised targets modestly or left “equal weight/neutral” ratings (UBS, Wells Fargo, Goldman’s PT change shows differing valuations), underscoring debate over sustainability vs. rich multiples. TickerReport: Analyst Notes
• Negative Sentiment: Insider sale: EVP James Ci Lee sold 673 shares (SEC filing); while not large versus market cap, insider selling can prompt caution for some investors. SEC Form 4: Insider Sale

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.