Seagate Technology (NASDAQ:STX) Stock Gets Price Target Reduction from Morgan Stanley

Seagate Technology (NASDAQ:STX) had its price objective cut by Morgan Stanley from $1,200.00 to $1,148.00 in a research report released on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the data storage provider’s stock.

Several other research firms also recently commented on STX. Susquehanna increased their price objective on Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Argus boosted their target price on shares of Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company lowered their target price on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Bank of America upped their price target on shares of Seagate Technology from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Finally, Cantor Fitzgerald cut their price target on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Twenty-two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.88.

Seagate Technology Stock Performance

Shares of STX opened at $644.58 on Wednesday. The firm has a market cap of $146.57 billion, a P/E ratio of 35.67 and a beta of 2.06. Seagate Technology has a twelve month low of $228.61 and a twelve month high of $1,145.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.82. The firm’s 50 day moving average price is $799.09 and its two-hundred day moving average price is $688.41.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.44 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Seagate Technology had a return on equity of 252.47% and a net margin of 31.86%. Seagate Technology’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.61 earnings per share. On average, analysts forecast that Seagate Technology will post 36.37 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 23rd. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s payout ratio is presently 15.55%.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Teh sold 52,730 shares of Seagate Technology stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the completion of the transaction, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Morris sold 15,466 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the completion of the transaction, the executive vice president owned 31,132 shares in the company, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 466,812 shares of company stock valued at $378,583,042 over the last 90 days. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STX. Wellington Management Group LLP grew its position in shares of Seagate Technology by 2,655.9% in the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after purchasing an additional 2,326,538 shares during the last quarter. National Pension Service lifted its holdings in Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock worth $805,490,000 after purchasing an additional 6,944 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Seagate Technology by 3,872.1% in the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after purchasing an additional 943,170 shares during the period. Amundi boosted its stake in Seagate Technology by 32.2% in the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after purchasing an additional 235,359 shares during the period. Finally, Swedbank AB grew its holdings in Seagate Technology by 67.6% in the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after buying an additional 285,949 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.