Seagate Technology (NASDAQ:STX) Price Target Raised to $370.00

Seagate Technology (NASDAQ:STX) had its price objective upped by Rosenblatt Securities from $270.00 to $370.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Other research analysts have also issued research reports about the company. Benchmark increased their price objective on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Loop Capital upped their target price on Seagate Technology from $350.00 to $465.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Argus increased their price target on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, UBS Group reduced their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $352.00.

Seagate Technology Price Performance

Seagate Technology stock opened at $346.53 on Tuesday. The company has a market capitalization of $74.00 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.04 and a beta of 1.60. Seagate Technology has a one year low of $63.19 and a one year high of $350.05. The company’s fifty day moving average price is $287.40 and its two-hundred day moving average price is $228.02.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Activity

In other news, EVP Kian Fatt Chong sold 7,078 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the transaction, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at $16,052,511.88. This represents a 48.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 132,557 shares of company stock worth $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $37,000. First Horizon Corp bought a new stake in shares of Seagate Technology during the third quarter valued at approximately $33,000. Raiffeisen Bank International AG acquired a new position in shares of Seagate Technology in the third quarter valued at $33,000. Finally, Physician Wealth Advisors Inc. lifted its position in Seagate Technology by 43.7% in the third quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 45 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate’s areal-density roadmap and HAMR-powered Mozaic drives are highlighted as keeping HDDs cost-efficient as hyperscalers scale AI storage beyond 36TB — technical progress that supports higher ASPs and long-term capacity demand. Read More.
• Positive Sentiment: Analysts and research pieces point to Seagate’s history of earnings beats and the current setup (pricing power, demand from cloud/AI customers) that make another potential beat likely — a catalyst for upward revisions. Read More.
• Positive Sentiment: Sector rotation into storage: market commentary says institutional money is moving from GPUs/chips into memory and storage as AI shifts emphasis to massive data capacity — a tailwind for HDD demand alongside SSD markets. Read More.
• Positive Sentiment: Multiple broker actions (Exane BNP Paribas upgraded to strong‑buy/outperform with a ~$380 target; Rosenblatt, UBS and Bank of America published bullish notes/price-target increases) are boosting sentiment and have helped push STX to a new 12‑month high. Read More.
• Neutral Sentiment: Valuation and positioning pieces review STX after the upgrades — analysts debate upside vs. high multiples (STX trades with elevated PE and near its 52‑week high), so some investors may pause to reassess entry points. Read More.
• Negative Sentiment: Not all shops are uniformly bullish — Zacks Research cut its rating from strong‑buy to hold, which could temper momentum among more conservative investors. Read More.

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.