Seagate Technology (NASDAQ:STX) Price Target Raised to $1,200.00

Seagate Technology (NASDAQ:STX) had its price objective lifted by Bank of America from $1,150.00 to $1,200.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the data storage provider’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen upped their target price on Seagate Technology from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Weiss Ratings upgraded Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Sanford C. Bernstein restated an “outperform” rating and issued a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $975.92.

Seagate Technology Stock Down 1.8%

Shares of NASDAQ STX opened at $630.49 on Wednesday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. The firm has a market capitalization of $143.37 billion, a price-to-earnings ratio of 43.36 and a beta of 2.06. The stock has a 50 day moving average price of $820.59 and a 200 day moving average price of $810.34. Seagate Technology has a 52-week low of $217.67 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts expect that Seagate Technology will post 35.79 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Thursday, September 24th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares of the company’s stock, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP John Morris sold 15,466 shares of Seagate Technology stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the transaction, the executive vice president owned 31,132 shares in the company, valued at $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Retirement Wealth Solutions LLC grew its stake in Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Seagate Technology by 23.1% in the first 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 in the last quarter. WealthCollab LLC lifted its position in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after buying an additional 20 shares during the last quarter. McMillan Office Inc. purchased a new stake in shares of Seagate Technology during the first quarter valued at about $39,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Seagate Technology during the first quarter valued at about $39,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Polen Capital identified Seagate as a beneficiary of rising artificial-intelligence data-storage demand. Growing AI workloads, cloud activity and enterprise data volumes are supporting demand for high-capacity nearline hard drives. Seagate Technology Holdings plc Stands to Benefit From Rising AI Data Storage Demand
• Positive Sentiment: Analyst sentiment has strengthened, with J.P. Morgan issuing a Buy rating and reports highlighting positive updates from Bank of America and Morgan Stanley. Zacks also added STX to its Rank #1, or Strong Buy, list. Seagate Tech Gets a Buy from J.P. Morgan
• Positive Sentiment: Recent research points to strong hard-drive demand from data centers and cloud providers, improving pricing power, capacity tightness and a robust enterprise-storage pipeline. These factors have driven higher earnings expectations and several analyst upgrades. Learn Why the Bull Case for Seagate Could Change Following Analyst Upgrades
• Neutral Sentiment: Seagate’s Q1 fiscal 2027 earnings preview remains favorable, with management’s outlook supported by healthy storage demand and pricing. Investors are likely focused on whether the company can meet or exceed its guidance of $7.10–$7.50 in EPS. STX Stock Earnings Preview
• Negative Sentiment: Despite the constructive outlook, STX has decreased in the latest market update, possibly reflecting profit-taking, elevated valuation concerns and technical weakness after its recent advance. At roughly 45 times earnings, the shares leave less room for an earnings or guidance disappointment.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.