Bank of America Raises Seagate Technology (NASDAQ:STX) Price Target to $320.00

Seagate Technology (NASDAQ:STX) had its price objective increased by analysts at Bank of America from $275.00 to $320.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price target indicates a potential upside of 34.74% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities upped their target price on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Zacks Research raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Morgan Stanley raised their target price on Seagate Technology from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Barclays upped their price objective on shares of Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $283.41.

Seagate Technology Stock Down 1.3%

Shares of STX stock opened at $237.49 on Thursday. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $297.88. The business has a 50-day simple moving average of $239.75 and a 200-day simple moving average of $176.09. The stock has a market cap of $50.72 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a negative return on equity of 297.87% and a net margin of 17.92%.The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Sell-side analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $262.82, for a total value of $5,256,400.00. Following the completion of the transaction, the chief executive officer owned 465,668 shares of the company’s stock, valued at $122,386,863.76. This trade represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kian Fatt Chong sold 7,078 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $272.14, for a total value of $1,926,206.92. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 131,261 shares of company stock valued at $34,210,708. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of STX. WCM Investment Management LLC purchased a new stake in Seagate Technology during the 3rd quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership increased its stake in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock worth $1,607,321,000 after buying an additional 2,161,191 shares during the last quarter. Norges Bank purchased a new stake in Seagate Technology in the second quarter valued at $197,027,000. Finally, Boston Partners acquired a new stake in shares of Seagate Technology during the second quarter worth about $193,500,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.