Seagate Technology (NASDAQ:STX) Price Target Raised to $983.00

Seagate Technology (NASDAQ:STX) had its target price boosted by research analysts at China Renaissance from $802.00 to $983.00 in a report issued on Friday,MarketScreener reports. China Renaissance’s price objective suggests a potential upside of 11.55% from the company’s previous close.

Several other research firms have also recently weighed in on STX. Argus lifted their price target on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup lifted their target price on Seagate Technology from $740.00 to $1,150.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. BNP Paribas Exane upped their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Evercore raised their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Loop Capital boosted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $820.63.

Seagate Technology Stock Performance

STX opened at $881.20 on Friday. Seagate Technology has a 12-month low of $124.63 and a 12-month high of $966.80. The business has a 50 day moving average of $699.38 and a 200-day moving average of $472.60. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The stock has a market cap of $197.59 billion, a price-to-earnings ratio of 83.37 and a beta of 2.04.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts expect that Seagate Technology will post 14.1 earnings per share for the current year.

Insider Activity

In other news, CFO Gianluca Romano sold 1,350 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $821.76, for a total transaction of $1,109,376.00. Following the completion of the sale, the chief financial officer owned 41,380 shares of the company’s stock, valued at approximately $34,004,428.80. This represents a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Christopher Morris sold 574 shares of Seagate Technology stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $821.66, for a total transaction of $471,632.84. Following the completion of the transaction, the executive vice president directly owned 12,199 shares in the company, valued at $10,023,430.34. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 160,629 shares of company stock valued at $112,739,671. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently modified their holdings of the business. Salomon & Ludwin LLC increased its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth grew its position in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in Seagate Technology in the fourth quarter valued at about $28,000. 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: Seagate said its nearline storage capacity is almost fully allocated through 2027 and lifted its long-term revenue growth target to at least 20%, signaling strong cloud and AI-driven demand. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Positive Sentiment: JPMorgan raised its price target on Seagate and maintained an Overweight rating, adding to bullish analyst sentiment around the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Brokerage coverage remains constructive, with commentary pointing to AI-driven demand and strong earnings momentum as reasons for the stock’s rerating. STX Stock Tops Industry Returns in 3 Months: A Smart Investment Now?
• Neutral Sentiment: Seagate announced redemption of its exchangeable notes, a capital-structure move that is unlikely to be a major near-term stock driver on its own. Seagate Announces Redemption of Exchangeable Notes
• Negative Sentiment: Several executives, including the CEO and CFO, sold shares in recent insider transactions, which can create some caution even though the sales were relatively small versus their total holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Seagate Technology Company Profile

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.