Seagate Technology (NASDAQ:STX) Price Target Raised to $1,000.00 at Bank of America

Seagate Technology (NASDAQ:STX) had its target price raised by stock analysts at Bank of America from $900.00 to $1,000.00 in a research note issued on Monday,MarketScreener reports. Bank of America‘s target price indicates a potential upside of 12.52% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. 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 research note on Friday, May 15th. UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. BNP Paribas Exane boosted their price target on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley raised their price objective on Seagate Technology from $582.00 to $767.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $792.46.

Seagate Technology Trading Up 1.4%

NASDAQ STX opened at $888.72 on Monday. Seagate Technology has a 12 month low of $124.63 and a 12 month high of $966.80. The company has a 50-day moving average of $671.46 and a 200-day moving average of $459.98. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The company has a market cap of $199.28 billion, a P/E ratio of 84.07 and a beta of 2.04.

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

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 8,003 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 22,488 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $774.22, for a total value of $17,410,659.36. Following the completion of the sale, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 155,187 shares of company stock valued at $108,267,701. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Seagate Technology by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after buying an additional 442,749 shares in the last quarter. State Street Corp increased its position in shares of Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after acquiring an additional 94,527 shares during the last quarter. Morgan Stanley increased its position in shares of Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after acquiring an additional 258,151 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Seagate Technology by 8.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after acquiring an additional 243,551 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.