Seagate Technology (NASDAQ:STX) Price Target Raised to $335.00

Seagate Technology (NASDAQ:STX) had its target price hoisted by UBS Group from $230.00 to $335.00 in a report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has a neutral rating on the data storage provider’s stock.

STX has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. The Goldman Sachs Group lifted their target price on Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Benchmark upped their target price on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Rosenblatt Securities raised their price target on Seagate Technology from $270.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $352.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $346.53 on Tuesday. The stock has a market cap of $74.00 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $350.05. The firm has a 50-day moving average of $287.40 and a two-hundred day moving average of $228.02.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.9%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date was Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $262.82, for a total transaction of $5,256,400.00. Following the completion of the sale, the chief executive officer directly owned 465,668 shares of the company’s stock, valued at approximately $122,386,863.76. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00. Following the completion of the sale, the executive vice president owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,557 shares of company stock valued at $36,847,793 in the last three months. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in the business. Vision Financial Markets LLC acquired a new position in Seagate Technology in the second quarter valued at approximately $173,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Seagate Technology in the third quarter valued at $1,864,000. Nordea Investment Management AB raised its position in Seagate Technology by 18.0% in the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after purchasing an additional 2,808 shares during the period. Central Asset Investments & Management Holdings HK Ltd lifted its stake in shares of Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after purchasing an additional 12,178 shares during the last quarter. Finally, Channing Capital Management LLC purchased a new position in shares of Seagate Technology during the 2nd quarter worth $4,542,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology News Summary

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

• Positive Sentiment: Seagate’s areal-density roadmap and HAMR-powered Mozaic drives are highlighted as keeping HDDs cost-efficient as hyperscalers scale AI storage beyond 36TB — technical progress that supports higher ASPs and long-term capacity demand. Read More.
• Positive Sentiment: Analysts and research pieces point to Seagate’s history of earnings beats and the current setup (pricing power, demand from cloud/AI customers) that make another potential beat likely — a catalyst for upward revisions. Read More.
• Positive Sentiment: Sector rotation into storage: market commentary says institutional money is moving from GPUs/chips into memory and storage as AI shifts emphasis to massive data capacity — a tailwind for HDD demand alongside SSD markets. Read More.
• Positive Sentiment: Multiple broker actions (Exane BNP Paribas upgraded to strong‑buy/outperform with a ~$380 target; Rosenblatt, UBS and Bank of America published bullish notes/price-target increases) are boosting sentiment and have helped push STX to a new 12‑month high. Read More.
• Neutral Sentiment: Valuation and positioning pieces review STX after the upgrades — analysts debate upside vs. high multiples (STX trades with elevated PE and near its 52‑week high), so some investors may pause to reassess entry points. Read More.
• Negative Sentiment: Not all shops are uniformly bullish — Zacks Research cut its rating from strong‑buy to hold, which could temper momentum among more conservative investors. Read More.

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.