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

Seagate Technology (NASDAQ:STX) had its price target upped by Morgan Stanley from $1,187.00 to $1,200.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the data storage provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Rosenblatt Securities increased their price target on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Fox Advisors lowered shares of Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. TD Cowen boosted their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wells Fargo & Company lowered their price objective on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $975.92.

Seagate Technology Trading Down 7.9%

Shares of STX stock opened at $642.14 on Tuesday. The firm has a market cap of $146.02 billion, a P/E ratio of 47.06 and a beta of 2.06. Seagate Technology has a 1-year low of $217.67 and a 1-year high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 1.17. The firm’s 50-day simple moving average is $827.45 and its 200-day simple moving average is $811.60.

Seagate Technology (NASDAQ:STX) last released 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. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the company earned $2.59 earnings per share. The company’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. As a group, equities analysts forecast that Seagate Technology will post 35.79 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.74 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.5%. Seagate Technology’s payout ratio is presently 21.33%.

Insider Transactions at Seagate Technology

In related news, EVP John Morris sold 9,354 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the completion of the sale, the executive vice president owned 22,693 shares of the company’s stock, valued at approximately $19,922,411.63. This represents a 29.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 11,002 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $935.60, for a total transaction of $10,293,471.20. Following the sale, the chief executive officer directly owned 362,108 shares of the company’s stock, valued at approximately $338,788,244.80. This trade represents a 2.95% 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 466,959 shares of company stock worth $378,840,741 over the last 90 days. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 0.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,858 shares of the data storage provider’s stock valued at $2,636,000 after acquiring an additional 17 shares in the last quarter. MBL Wealth LLC boosted its position in Seagate Technology by 131.2% during the 3rd quarter. MBL Wealth LLC now owns 1,829 shares of the data storage provider’s stock worth $1,687,000 after purchasing an additional 1,038 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Seagate Technology by 6.6% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,143 shares of the data storage provider’s stock valued at $2,899,000 after purchasing an additional 195 shares in the last quarter. Root Financial Partners LLC increased its holdings in Seagate Technology by 20.2% in the 3rd quarter. Root Financial Partners LLC now owns 1,114 shares of the data storage provider’s stock valued at $1,028,000 after purchasing an additional 187 shares in the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new stake in Seagate Technology in the 3rd quarter valued at $123,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Bank of America raised its price target on Seagate to $1,200 from $1,150 and reiterated a Buy rating, citing HDD demand that is exceeding long-term expectations. The bank expects fiscal Q1 2027 revenue near the high end of guidance and earnings above management’s projected range. Seagate price target raised as Bank of America sees strong demand for hard drives
• Positive Sentiment: J.P. Morgan and other analysts issued bullish views, while Morgan Stanley reportedly expects further share-price appreciation. Zacks also upgraded STX to a Buy and added it to its Strong Buy list, reflecting improving earnings expectations. Seagate Tech Gets a Buy from J.P. Morgan
• Positive Sentiment: The earnings preview highlights favorable storage pricing, constrained HDD capacity, and rising nearline and AI-oriented demand. Analysts are looking for Seagate to build on its recent earnings beat, including its latest $5.71-per-share result versus a $5.10 consensus estimate. STX Stock Earnings Preview
• Neutral Sentiment: Seagate’s strong rally—reported at roughly 155% for the year—has prompted investors to consider taking profits. This creates near-term volatility even though the fundamental outlook remains constructive. Micron and Seagate profit-taking analysis

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.