Citigroup Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price hoisted by equities research analysts at Citigroup from $1,150.00 to $1,240.00 in a report released on Monday. The brokerage presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target suggests a potential upside of 44.91% from the company’s previous close.

A number of other research firms also recently weighed in on STX. Loop Capital raised their price target 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. Susquehanna raised their price objective on shares of Seagate Technology from $615.00 to $775.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. BNP Paribas Exane increased their price target on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. China Renaissance boosted their price objective on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Finally, Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Twenty-two 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 company presently has an average rating of “Moderate Buy” and an average target price of $898.52.

Seagate Technology Stock Down 6.0%

Seagate Technology stock traded down $54.61 during midday trading on Monday, hitting $855.73. 420,944 shares of the company were exchanged, compared to its average volume of 4,218,140. The company has a market cap of $191.88 billion, a PE ratio of 81.16 and a beta of 2.04. Seagate Technology has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00. The company’s fifty day moving average price is $880.60 and its 200-day moving average price is $572.75. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, research analysts predict that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 9,343 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares in the company, valued at $37,724,943.40. This represents a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 151,069 shares of company stock worth $126,191,753 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its holdings in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of 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 shares of Seagate Technology during the 4th quarter valued at $28,000. Avion Wealth lifted its position in shares of Seagate Technology by 343.5% during the 4th 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 stake in shares of Seagate Technology during the 4th quarter worth $28,000. 92.87% of the stock is currently owned by institutional investors.

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.