Loop Capital Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

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

A number of other equities analysts have also recently issued reports on the company. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Rosenblatt Securities lifted their target price on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Benchmark upped their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Evercore raised their price target on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Finally, Argus boosted their price objective on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $441.70.

Seagate Technology Stock Down 0.5%

Shares of STX opened at $427.28 on Monday. 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 business has a fifty day moving average of $320.55 and a 200 day moving average of $249.45. The company has a market cap of $93.18 billion, a PE ratio of 48.78, a P/E/G ratio of 0.96 and a beta of 1.62. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $459.41.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction 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 sale, the chief financial officer owned 56,293 shares of the company’s stock, valued at $16,052,511.88. This trade represents a 48.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 137,976 shares of company stock valued at $45,330,378 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Asset Planning Inc. acquired a new stake in Seagate Technology during the 2nd quarter worth about $27,000. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the period. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the fourth quarter valued at approximately $28,000. Finally, Avion Wealth boosted its position in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds 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.