Seagate Technology (NASDAQ:STX) Shares Up 9.1% After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price was up 9.1% during mid-day trading on Wednesday after Sanford C. Bernstein raised their price target on the stock from $500.00 to $620.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $427.41 and last traded at $427.3480. Approximately 1,579,650 shares changed hands during trading, a decline of 62% from the average daily volume of 4,144,642 shares. The stock had previously closed at $391.76.

Several other research firms also recently weighed in on STX. Argus raised their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Loop Capital increased their price target on shares of Seagate Technology from $465.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Rosenblatt Securities lifted their price objective on Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. The Goldman Sachs Group upped their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Cantor Fitzgerald increased their target price on Seagate Technology from $500.00 to $650.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $461.00.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares in the company, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares in the company, valued at approximately $89,654.45. This represents a 72.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 113,635 shares of company stock worth $44,430,443 in the last three months. 0.79% of the stock is currently owned by company insiders.

Seagate Technology News Roundup

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $620 from $500 and reiterated an Outperform rating, framing the recent pullback as a buying opportunity and arguing fundamentals justify a much higher valuation. Bernstein $620 target
• Positive Sentiment: JPMorgan initiated coverage with an Overweight (or equivalent) rating, highlighting cloud demand and pricing strength as reasons to expect further upside despite Seagate’s sharp recent run. JPMorgan initiation
• Positive Sentiment: Several commentators and analysts are calling the recent ~20% pullback an attractive entry point, arguing Seagate’s HDD exposure still benefits from cloud/AI storage demand. SA: 20% plunge opportunity
• Neutral Sentiment: Market coverage notes Seagate outperformed peers during a strong trading session, reflecting momentum and short-term buying interest. MarketWatch trading note
• Neutral Sentiment: Analysts and commentators are debating whether recent sector volatility (TurboQuant-driven swings) creates temporary entry points or signals deeper demand/architectural shifts. MSN: sector volatility
• Negative Sentiment: Zacks downgraded Seagate from “strong-buy” to “hold,” removing some conviction from part of the buy-side and signaling caution among retail/quant subscribers. Zacks downgrade
• Negative Sentiment: Broader headlines point to a sector selloff driven by reports of an Nvidia design shift and memory/AI readjustments that pressured storage and memory stocks — a risk for Seagate given cyclical demand links. Nvidia design shift / sector selloff
• Negative Sentiment: Opinion pieces raise valuation concerns and caution that current price levels reflect aggressive expectations; one headline explicitly says “Good Company, But I Don’t Trust The Story At This Price.” SA: valuation concerns

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its holdings in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after acquiring an additional 4,499 shares during the period. Sivia Capital Partners LLC purchased a new stake in Seagate Technology in the second quarter valued at approximately $262,000. Prudential Financial Inc. increased its position in Seagate Technology by 22.3% during the second quarter. Prudential Financial Inc. now owns 30,811 shares of the data storage provider’s stock worth $4,447,000 after purchasing an additional 5,611 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Seagate Technology by 16.6% during the second quarter. Advisors Asset Management Inc. now owns 1,068 shares of the data storage provider’s stock worth $154,000 after purchasing an additional 152 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new position in Seagate Technology during the second quarter worth approximately $280,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

The company’s 50 day moving average price is $399.43 and its 200-day moving average price is $310.76. The company has a market capitalization of $93.19 billion, a PE ratio of 48.26, a PEG ratio of 0.81 and a beta of 1.61. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s payout ratio is presently 33.48%.

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.