Seagate Technology (NASDAQ:STX) Given New $750.00 Price Target at Evercore

Seagate Technology (NASDAQ:STX) had its target price upped by analysts at Evercore from $550.00 to $750.00 in a report issued on Wednesday. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Evercore’s target price indicates a potential upside of 16.71% from the company’s current price.

STX has been the subject of a number of other reports. Wedbush boosted their price target on Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday. BNP Paribas Exane boosted their price target on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America boosted their price target on Seagate Technology from $605.00 to $700.00 and gave the company a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $669.75.

Seagate Technology Stock Performance

NASDAQ STX traded up $63.59 during trading hours on Wednesday, hitting $642.62. The company’s stock had a trading volume of 6,933,864 shares, compared to its average volume of 4,084,656. Seagate Technology has a 12 month low of $85.47 and a 12 month high of $697.00. The company’s 50 day simple moving average is $444.55 and its two-hundred day simple moving average is $351.81. The company has a market cap of $140.14 billion, a P/E ratio of 72.63, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.47 by $0.63. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.94 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.Seagate Technology’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period last year, the company earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, sell-side analysts expect that Seagate Technology will post 12.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares in the company, valued at $1,367,560.68. This represents a 86.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 24,584 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer owned 375,591 shares of the company’s stock, valued at $152,779,151.07. The trade was a 6.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 111,550 shares of company stock valued at $46,476,441. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC boosted its position in shares of Seagate Technology by 124.4% during 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 position 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 acquiring an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. Avion Wealth boosted its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. 92.87% of the stock is currently owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Q3 beat — Seagate reported $4.10 EPS on $3.11B revenue, well above estimates, with record margins and roughly $1B of free cash flow; the strong quarter is the core catalyst for the rally. Seagate Q3 Results
• Positive Sentiment: Bullish guidance — Seagate issued Q4 EPS guidance of $4.80–$5.20 and revenue guidance roughly $3.4B–$3.6B, comfortably above Street estimates, signaling continued AI/data-center demand. Seagate Forecasts Upbeat Quarter (Reuters)
• Positive Sentiment: Widespread analyst bullishness — Multiple firms raised price targets (examples: Rosenblatt/Cantor Fitzgerald to $1,000, JPMorgan to $775, Morgan Stanley, BofA, TD Cowen and others lifting targets), amplifying momentum and buy-side interest. Rosenblatt $1,000 Target
• Positive Sentiment: Market narrative: AI storage boom — Multiple write-ups highlight sustained AI-driven demand and HAMR HDD tightness as structural tailwinds supporting higher revenue and pricing power. AI Storage Boom (Invezz)
• Neutral Sentiment: Dividend declared — Seagate announced a quarterly dividend of $0.74 (record June 24 / payable July 7); modest yield, more a shareholder-return signal than a near-term price mover.
• Negative Sentiment: Valuation and balance-sheet considerations — The rally pushes valuation rich (high P/E) and Seagate still shows elevated leverage metrics; investors should weigh re-rating risk if AI spending moderates. Valuation/Risk Commentary (Investopedia)

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.