Seagate Technology (NASDAQ:STX) Given New $1,000.00 Price Target at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its price target lowered by research analysts at Cantor Fitzgerald from $1,300.00 to $1,000.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Cantor Fitzgerald‘s price objective points to a potential upside of 58.61% from the company’s current price.

STX has been the topic of several other reports. Morgan Stanley upped their price target on Seagate Technology from $1,187.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. TD Cowen boosted their target price on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Melius Research assumed coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target for the company. Finally, Barclays lifted their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Twenty-two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $963.92.

Seagate Technology Price Performance

STX stock opened at $630.49 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. Seagate Technology has a 1 year low of $217.67 and a 1 year high of $1,145.00. The firm has a 50-day moving average of $820.59 and a 200 day moving average of $812.85. The company has a market cap of $143.37 billion, a P/E ratio of 45.42 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last announced its earnings results 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 firm had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The business’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts forecast that Seagate Technology will post 35.79 EPS for the current year.

Insider Activity

In other news, CEO William D. Mosley sold 11,002 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $935.60, for a total value of $10,293,471.20. Following the transaction, the chief executive officer owned 362,108 shares in the company, valued at approximately $338,788,244.80. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This represents a 41.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently modified their holdings of the business. Retirement Wealth Solutions LLC boosted its holdings in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after buying an additional 12 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $39,000. One River Asset Management LLC grew its stake in shares of Seagate Technology by 50.0% during the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock valued at $42,000 after acquiring an additional 15 shares during the period. Trust Co. of Vermont bought a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $54,000. Finally, Triumph Capital Management increased its holdings in Seagate Technology by 93.5% in the 2nd quarter. Triumph Capital Management now owns 60 shares of the data storage provider’s stock worth $58,000 after acquiring an additional 29 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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.