UBS Group Boosts Seagate Technology (NASDAQ:STX) Price Target to $440.00

Seagate Technology (NASDAQ:STX) had its price target raised by equities researchers at UBS Group from $385.00 to $440.00 in a report released on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the data storage provider’s stock. UBS Group’s price objective indicates a potential upside of 7.58% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. BNP Paribas Exane lifted their price target on Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Rosenblatt Securities increased their price objective on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, Robert W. Baird raised their target price on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $444.09.

Seagate Technology Stock Down 3.8%

Shares of STX traded down $15.99 during midday trading on Monday, hitting $409.01. The company had a trading volume of 694,050 shares, compared to its average volume of 4,839,438. The stock has a market cap of $89.19 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 0.96 and a beta of 1.62. The company’s 50 day moving average price is $323.64 and its 200 day moving average price is $251.37. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $459.41.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the business earned $2.03 EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Insider Activity at Seagate Technology

In other news, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the sale, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction dated 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 SEC filing for this sale provides additional information. Insiders sold 137,976 shares of company stock valued at $45,330,378 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forsta AP Fonden grew its position in Seagate Technology by 15.0% during the fourth quarter. Forsta AP Fonden now owns 53,000 shares of the data storage provider’s stock valued at $14,596,000 after purchasing an additional 6,900 shares in the last quarter. Norges Bank purchased a new position in shares of Seagate Technology during the 4th quarter valued at $498,363,000. National Pension Service increased its stake in shares of Seagate Technology by 298.7% in the fourth quarter. National Pension Service now owns 997,223 shares of the data storage provider’s stock worth $274,625,000 after acquiring an additional 747,102 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Seagate Technology in the fourth quarter worth $1,514,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Seagate Technology by 85.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 41,400 shares of the data storage provider’s stock valued at $11,401,000 after purchasing an additional 19,070 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.