TD Cowen Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price objective increased by investment analysts at TD Cowen from $850.00 to $1,000.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the data storage provider’s stock. TD Cowen’s price target indicates a potential upside of 26.80% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Bank of America raised their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $1,300.00 price target on shares of Seagate Technology in a research note on Wednesday. Citigroup increased their target price on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday. China Renaissance upped their price target on Seagate Technology from $802.00 to $983.00 in a research report on Friday, June 12th. Finally, Argus boosted 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. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $957.20.

Seagate Technology Trading Up 5.5%

NASDAQ STX traded up $41.36 during trading hours on Wednesday, hitting $788.66. The company’s stock had a trading volume of 4,267,590 shares, compared to its average volume of 4,358,942. Seagate Technology has a twelve month low of $138.30 and a twelve month high of $1,145.00. The firm has a market capitalization of $176.84 billion, a P/E ratio of 75.51 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The stock has a fifty day moving average of $894.95 and a 200 day moving average of $618.98.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business posted $2.59 EPS. Seagate Technology’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. Equities research analysts forecast that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the sale, the chief executive officer directly owned 339,591 shares in the company, valued at $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. 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, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the completion of the sale, 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 ownership of the stock. 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 151,069 shares of company stock worth $126,191,753 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently added to or reduced their stakes in the business. PFA Pension Forsikringsaktieselskab bought a new position in Seagate Technology in the fourth quarter worth $23,882,000. New York State Teachers Retirement System boosted its holdings in shares of Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after buying an additional 8,991 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after buying an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. grew its position in shares of Seagate Technology by 56.5% in the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider’s stock worth $1,822,000 after buying an additional 2,389 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of Seagate Technology by 64.5% in the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider’s stock worth $5,872,000 after buying an additional 8,358 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, exceeding the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, above expectations of approximately $3.50 billion. Seagate fiscal fourth-quarter results
• Positive Sentiment: Management forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, well above analyst expectations of roughly $3.7 billion in revenue and $5.63 in EPS. The outlook points to continued momentum from AI infrastructure and cloud-storage demand. Seagate upbeat forecast
• Positive Sentiment: Investors highlighted record profitability, fiscal 2026 annual revenue growth of 34%, and record free cash flow of $3.1 billion. Seagate also cited durable data-center demand, progress with its HAMR and Mozaic storage technologies, margin expansion and strong cash generation. Seagate earnings call highlights
• Positive Sentiment: Several analysts raised their targets following the results: Wells Fargo to $1,180, Rosenblatt to $1,400, Citigroup to $1,300, Wedbush to $1,000 and Susquehanna to $875. Cantor Fitzgerald reaffirmed an overweight rating with a $1,300 target, reinforcing bullish expectations for AI-related storage growth.
• Neutral Sentiment: Seagate’s quarterly dividend was declared at $0.74 per share, payable October 7 to shareholders of record September 24. The approximately 0.4% yield is supportive but unlikely to be a major near-term trading catalyst.
• Negative Sentiment: The broader memory and storage sector remains volatile, with SanDisk and Micron falling amid concerns about AI-trade sustainability and potential valuation contraction. Seagate’s elevated valuation and the fact that its shares had already priced in significant optimism could limit further gains if future results or guidance fall short.

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.