Wells Fargo & Company Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its price target increased by Wells Fargo & Company from $1,100.00 to $1,180.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the data storage provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 54.30% from the stock’s current price.

A number of other equities analysts also recently weighed in on STX. Fox Advisors downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 22nd. Evercore lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Rosenblatt Securities increased their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,187.00 target price on shares of Seagate Technology in a research report on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $926.20.

Seagate Technology Stock Up 2.3%

Shares of Seagate Technology stock traded up $17.45 during trading on Wednesday, reaching $764.75. The stock had a trading volume of 3,757,552 shares, compared to its average volume of 4,343,858. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $171.48 billion, a price-to-earnings ratio of 72.23 and a beta of 2.04. The stock has a fifty day moving average price of $894.95 and a two-hundred day moving average price of $618.98. Seagate Technology has a 52 week low of $138.30 and a 52 week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the company earned $2.59 earnings per share. Seagate Technology’s quarterly revenue was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This represents a 18.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of Seagate Technology stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the sale, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at $287,972,545.14. The trade was a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last quarter. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently made changes to their positions in STX. State Street Corp increased its position in shares of Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after purchasing an additional 94,527 shares during the period. Morgan Stanley increased its holdings in Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after buying an additional 258,151 shares during the period. Geode Capital Management LLC increased its holdings in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after buying an additional 234,436 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Seagate Technology by 8.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after buying an additional 243,551 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares during the period. Institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Results exceeded expectations: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, above the roughly $5.10 analyst consensus, while revenue rose 48.5% year over year to $3.63 billion, ahead of estimates near $3.50 billion. Net income increased to $1.29 billion from $488 million a year earlier. Seagate Technology Fiscal Fourth-Quarter Results
• Positive Sentiment: Strong forward guidance: Seagate forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, both well above Wall Street expectations. The outlook suggests that demand and pricing momentum are continuing into the new fiscal year. Seagate Forecasts Upbeat Quarter
• Positive Sentiment: AI and data-center demand remain key catalysts: Management described demand from cloud and data-center customers as durable, supported by AI infrastructure expansion. Seagate is also advancing heat-assisted magnetic recording (HAMR) and its Mozaic platform to increase drive capacity without proportionate manufacturing investment. Seagate Q4 Earnings Call Highlights
• Positive Sentiment: Profitability and cash generation improved: Seagate highlighted record margins and $3.1 billion in fiscal 2026 free cash flow, strengthening the investment case and supporting shareholder returns. Cantor Fitzgerald reaffirmed an overweight rating, while Citi and Rosenblatt raised their price targets to $1,300 and $1,400, respectively.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The annualized yield is approximately 0.4%, making the announcement more relevant as a capital-allocation signal than as a major income catalyst.
• Negative Sentiment: Despite the earnings-driven rebound, STX remains exposed to elevated expectations after a substantial prior rally. Shares had recently fallen sharply amid broader concerns about the sustainability of the AI trade, and the stock’s high valuation and volatility could limit gains if future results fail to keep exceeding already-strong forecasts.

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.