Seagate Technology (NASDAQ:STX) Price Target Raised to $900.00

Seagate Technology (NASDAQ:STX) had its price target raised by stock analysts at Argus from $750.00 to $900.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Argus’ price target would indicate a potential upside of 6.09% from the stock’s current price.

A number of other research analysts also recently weighed in on STX. Wedbush increased their target price on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Melius Research started coverage on Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Up 11.0%

Seagate Technology stock traded up $83.88 during trading hours on Thursday, hitting $848.31. The stock had a trading volume of 2,964,188 shares, compared to its average volume of 4,372,999. The stock’s 50-day moving average price is $895.22 and its 200-day moving average price is $622.36. The stock has a market capitalization of $190.22 billion, a P/E ratio of 60.99 and a beta of 2.04. Seagate Technology has a 12-month low of $144.75 and a 12-month high of $1,145.00. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 680.78% and a net margin of 26.11%.The business had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the company earned $2.59 EPS. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts anticipate that Seagate Technology will post 26.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John Christopher Morris sold 5,626 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the transaction, the executive vice president directly owned 11,954 shares of the company’s stock, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the transaction, the chief financial officer owned 42,847 shares of the company’s stock, valued at $33,173,004.34. The trade was a 34.42% 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. In the last ninety days, insiders sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently modified their holdings of STX. Salomon & Ludwin LLC increased its holdings in 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 acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. Avion Wealth grew its position in shares of 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 purchasing an additional 79 shares in the last quarter. Concord Wealth Partners purchased a new position in shares of Seagate Technology during the fourth quarter valued at about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings 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 purchasing an additional 15 shares during the last quarter. 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: Strong earnings beat and outlook: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus, while revenue increased 48.5% year over year to $3.63 billion. Fiscal first-quarter 2027 guidance of $4.0 billion-$4.2 billion in revenue and $7.10-$7.50 in EPS was well above Wall Street expectations, reinforcing confidence in near-term growth. Seagate fiscal fourth-quarter results
• Positive Sentiment: AI storage demand remains durable: Cloud providers and data centers are reserving Seagate’s mass-capacity hard drives to store AI training data, model outputs and other rapidly expanding workloads. Management highlighted record profitability, 34% fiscal-year revenue growth and $3.1 billion in free cash flow. Reuters AI-driven storage demand report
• Positive Sentiment: Technology cycle and analyst support: Progress with heat-assisted magnetic recording (HAMR) and the Mozaic platform could improve capacity and operating leverage without requiring equivalent manufacturing investment. Several firms raised targets, including JPMorgan to $1,240, Citi to $1,300, Rosenblatt to $1,400 and one bullish analyst to $1,624; Zacks also upgraded STX to “strong buy.” Seagate HAMR analysis
• Neutral Sentiment: Risks and expectations: The rally follows a major run-up, leaving valuation and execution expectations elevated. Although most analysts became more bullish, Susquehanna maintained a neutral rating with an $875 target, underscoring potential sensitivity to AI-spending momentum, supply conditions and any evidence of slowing pricing power.

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.