Seagate Technology (NASDAQ:STX) Stock Gets Price Target Trim from Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price objective cut by Wells Fargo & Company from $865.00 to $820.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the data storage provider’s stock.

Several other equities analysts have also recently weighed in on STX. Bank of America boosted their price objective on Seagate Technology from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. TD Cowen lowered their target price on Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating on the stock in a report on Wednesday. Summit Insights downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Evercore reaffirmed an “outperform” rating on shares of Seagate Technology in a research report on Wednesday. Finally, Susquehanna cut their price target on Seagate Technology from $925.00 to $765.00 and set a “neutral” rating for the company in a report on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,000.88.

Seagate Technology Stock Performance

NASDAQ:STX opened at $644.58 on Wednesday. Seagate Technology has a 1 year low of $228.61 and a 1 year high of $1,145.00. The firm’s fifty day simple moving average is $799.09 and its 200 day simple moving average is $688.41. The company has a current ratio of 1.82, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $146.57 billion, a PE ratio of 35.67 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping analysts’ consensus estimates of $7.44 by $0.24. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business’s revenue was up 61.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.61 EPS. On average, sell-side analysts anticipate that Seagate Technology will post 36.37 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.74. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently 15.55%.

Insider Activity at Seagate Technology

In related news, EVP Ban Teh sold 52,730 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares in the company, valued at $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total value of $38,595,645.44. Following the transaction, the chief financial officer owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 466,812 shares of company stock worth $378,583,042 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Institutional Trading of Seagate Technology

Several institutional investors have recently modified their holdings of STX. NewEdge Advisors LLC increased its holdings in Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares during the period. UNICOM Systems Inc. lifted its holdings in shares of Seagate Technology by 18.2% during the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after acquiring an additional 6,700 shares during the period. USA Financial Formulas acquired a new stake in shares of Seagate Technology during the 1st quarter valued at about $1,328,000. Financial Insights Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at about $706,000. Finally, Silverleafe Capital Partners LLC bought a new stake in Seagate Technology in the third quarter valued at about $820,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

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.