Barclays Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its target price hoisted by equities researchers at Barclays from $1,000.00 to $1,250.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Barclays‘s target price points to a potential upside of 47.35% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group upped their price target on Seagate Technology from $515.00 to $545.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Melius Research assumed coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a “buy” rating and a $1,600.00 price target for the company. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Bank of America boosted their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $986.00.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $83.88 during trading on Thursday, reaching $848.31. The company had a trading volume of 2,964,188 shares, compared to its average volume of 4,372,999. The company has a fifty day moving average of $895.22 and a two-hundred day moving average of $622.36. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $190.22 billion, a P/E ratio of 60.99 and a beta of 2.04. Seagate Technology has a 12 month low of $144.75 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 680.78% and a net margin of 26.11%.The business’s revenue was up 48.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology will post 26.84 earnings per share for the current year.

Insiders Place Their Bets

In other Seagate Technology news, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $738.37, for a total transaction of $4,154,069.62. Following the transaction, the executive vice president owned 11,954 shares in the company, valued at approximately $8,826,474.98. This represents a 32.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the sale, the chief executive officer owned 339,591 shares of the company’s stock, valued at $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,069 shares of company stock worth $126,191,753 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 15 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Seagate Technology by 124.4% in 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 during the last quarter. WealthCollab LLC grew its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Seagate Technology during the 1st quarter valued at $39,000. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Strong earnings beat and outlook: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus, while revenue increased 48.5% year over year to $3.63 billion. Fiscal first-quarter 2027 guidance of $4.0 billion-$4.2 billion in revenue and $7.10-$7.50 in EPS was well above Wall Street expectations, reinforcing confidence in near-term growth. Seagate fiscal fourth-quarter results
• Positive Sentiment: AI storage demand remains durable: Cloud providers and data centers are reserving Seagate’s mass-capacity hard drives to store AI training data, model outputs and other rapidly expanding workloads. Management highlighted record profitability, 34% fiscal-year revenue growth and $3.1 billion in free cash flow. Reuters AI-driven storage demand report
• Positive Sentiment: Technology cycle and analyst support: Progress with heat-assisted magnetic recording (HAMR) and the Mozaic platform could improve capacity and operating leverage without requiring equivalent manufacturing investment. Several firms raised targets, including JPMorgan to $1,240, Citi to $1,300, Rosenblatt to $1,400 and one bullish analyst to $1,624; Zacks also upgraded STX to “strong buy.” Seagate HAMR analysis
• Neutral Sentiment: Risks and expectations: The rally follows a major run-up, leaving valuation and execution expectations elevated. Although most analysts became more bullish, Susquehanna maintained a neutral rating with an $875 target, underscoring potential sensitivity to AI-spending momentum, supply conditions and any evidence of slowing pricing power.

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.