Citigroup Issues Pessimistic Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price objective dropped by analysts at Citigroup from $1,300.00 to $1,050.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Citigroup‘s price objective points to a potential upside of 50.69% from the stock’s current price.

Other research analysts also recently issued research reports about the company. UBS Group reiterated a “neutral” rating and issued a $750.00 price objective on shares of Seagate Technology in a report on Wednesday. Barclays upped their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Argus lifted their price objective on Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen lowered their price objective on Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald lowered their price target on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday. Twenty-two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $971.64.

Seagate Technology Stock Performance

Seagate Technology stock traded up $28.97 during midday trading on Wednesday, reaching $696.82. The stock had a trading volume of 10,083,845 shares, compared to its average volume of 4,458,256. The firm’s 50-day moving average price is $809.95 and its 200 day moving average price is $682.75. The firm has a market capitalization of $158.45 billion, a PE ratio of 50.20 and a beta of 2.06. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology has a 12 month low of $228.61 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.45 by $0.23. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.15 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company’s revenue for the quarter was up 61.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.61 earnings per share. As a group, research analysts predict that Seagate Technology will post 35.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 49,984 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the completion of the sale, the chief financial officer directly owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 the firm’s stock in a transaction on Tuesday, September 15th. The stock was 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 directly owned 31,132 shares in the company, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 467,506 shares of company stock worth $379,191,992. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC raised its stake in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 12 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after purchasing an additional 13 shares during the period. Baker Tilly Wealth Management LLC boosted its position in shares of Seagate Technology by 4.6% in the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock worth $295,000 after purchasing an additional 14 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of 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 during the period. Finally, One River Asset Management LLC increased its stake in shares of Seagate Technology by 50.0% in the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after purchasing an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 revenue of $4.23 billion, up 61% year over year, and non-GAAP earnings of $7.68 per share, exceeding consensus estimates of $4.15 billion and $7.45 per share. Data-center revenue rose 63%, while record cash flow and favorable pricing boosted profitability. Seagate Technology Reports Fiscal First Quarter 2027 Financial Results
• Positive Sentiment: Management projected roughly $4.8 billion in December-quarter revenue and $9.20 in non-GAAP EPS. Strong AI and cloud-storage demand, higher prices, HAMR adoption and supply commitments extending through 2028–2030 support the longer-term growth outlook. Data-center customers represented 90% of shipped capacity. Seagate Q1 Earnings Call Highlights Strong Demand and HAMR Expansion
• Positive Sentiment: Seagate raised its quarterly dividend 2.7% to $0.76 per share. However, the approximately 0.4% yield indicates that investors are valuing STX primarily as a high-growth AI-storage company rather than an income stock. Seagate Just Raised Its Dividend
• Neutral Sentiment: Analyst opinion remains divided. Wells Fargo, TD Cowen and Morgan Stanley lowered price targets but retained bullish ratings, while Wedbush maintained a $1,000 target. Summit Insights downgraded the stock to “hold,” and Susquehanna cut its target to $765 with a neutral rating.
• Negative Sentiment: The earnings beat did not clear an elevated bar after STX’s substantial rally. Investors are concerned that exabyte shipment growth and margin expansion could slow, while the stock’s premium valuation leaves less room for execution disappointments. Profit-taking after the results added to the pressure. Seagate Q1 Earnings Beat, Stock Plunges

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.