Seagate Technology (NASDAQ:STX) Trading Up 2.3% Following Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) traded up 2.3% during mid-day trading on Friday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $1,100.00 price target on the stock, up from their previous price target of $900.00. Seagate Technology traded as high as $927.28 and last traded at $910.34. Approximately 3,950,345 shares were traded during trading, a decline of 7% from the average session volume of 4,248,845 shares. The stock had previously closed at $890.09.

Several other research firms have also weighed in on STX. JPMorgan Chase & Co. raised their price objective on Seagate Technology from $775.00 to $920.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Susquehanna increased their target price on shares of Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a report on Wednesday. Argus lifted their price target 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. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Bank of America lifted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $894.92.

Insider Buying and Selling

In related news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total transaction 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. This trade represents a 34.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president owned 3,691 shares in the company, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock valued at $126,191,753 in the last ninety days. Insiders own 0.79% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Wells Fargo upgraded Seagate to Overweight from Equal Weight and lifted its price target to $1,100 from $900, citing stronger confidence in long-term earnings power and continued hard-disk-drive demand tied to AI infrastructure. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Multiple market updates highlighted Seagate as a beneficiary of the AI data-center buildout, with commentary pointing to rising storage demand, margin expansion, and potential upside from HAMR technology and cloud spending. Cloud Giants Record $1.1T RPO: A Growth Catalyst for Seagate?
• Positive Sentiment: Seagate was also mentioned in broader analyst roundups as one of the names with improving Wall Street forecasts, reinforcing sentiment that the stock still has room to run after its recent rebound. Here Are Friday’s Best Wall Street Analyst Research Calls
• Neutral Sentiment: Recent articles also framed Seagate as part of a broader rebound in memory and storage stocks, alongside peers like Western Digital and Micron, after a sector selloff reversed. This supports the stock, but the move appears driven more by sector momentum than by a company-specific fundamental update. Seagate (STX) Stock Rebounds As AI Data Center Demand Lifts Storage Names

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Bridgewater Advisors Inc. raised its position in Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after acquiring an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Seagate Technology by 23.1% in the 1st 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 period. Beaumont Financial Advisors LLC lifted its stake in Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock valued at $1,388,000 after purchasing an additional 19 shares during the period. Finally, WealthCollab LLC increased its position in Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

The stock has a market capitalization of $204.13 billion, a P/E ratio of 86.37 and a beta of 2.04. The company has a 50 day simple moving average of $875.26 and a 200-day simple moving average of $568.33. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 28.08%.

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.