Seagate Technology (NASDAQ:STX) Price Target Raised to $900.00 at Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price objective upped by stock analysts at Wells Fargo & Company from $700.00 to $900.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the data storage provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.02% from the stock’s current price.

A number of other brokerages also recently weighed in on STX. Susquehanna raised their target price on shares of Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Finally, Wedbush raised their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $754.96.

Seagate Technology Stock Up 3.3%

Shares of NASDAQ STX traded up $29.45 on Monday, reaching $909.25. 1,361,953 shares of the company’s stock traded hands, compared to its average volume of 4,147,788. Seagate Technology has a 12 month low of $116.78 and a 12 month high of $917.60. The business’s 50 day simple moving average is $612.03 and its two-hundred day simple moving average is $432.99. The company has a market cap of $203.88 billion, a price-to-earnings ratio of 86.09 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts forecast that Seagate Technology will post 14.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 697 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $741.17, for a total transaction of $516,595.49. Following the completion of the sale, the executive vice president owned 324 shares in the company, valued at $240,139.08. This represents a 68.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 122,437 shares of company stock valued at $78,398,375 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its holdings in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Avion Wealth boosted its holdings in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.