Seagate Technology (NASDAQ:STX) Price Target Raised to $620.00

Seagate Technology (NASDAQ:STX) had its price objective hoisted by Sanford C. Bernstein from $500.00 to $620.00 in a research report released on Tuesday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the data storage provider’s stock.

STX has been the subject of several other reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Citigroup boosted their price target on shares of Seagate Technology from $460.00 to $480.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Benchmark increased their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. UBS Group raised their price objective on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Mizuho lifted their price objective on Seagate Technology from $440.00 to $475.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $461.00.

Seagate Technology Price Performance

STX opened at $429.36 on Tuesday. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock has a market capitalization of $93.63 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 0.94 and a beta of 1.61. The stock’s 50 day moving average price is $402.67 and its 200-day moving average price is $312.36. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $459.84.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities research analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 24,584 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the sale, the chief executive officer owned 375,591 shares of the company’s stock, valued at $152,779,151.07. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 113,635 shares of company stock worth $47,133,843 over the last 90 days. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Salomon & Ludwin LLC raised its stake in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology in the fourth quarter worth $28,000. Concord Wealth Partners purchased a new stake in shares of Seagate Technology in the fourth quarter worth $28,000. Avion Wealth increased its holdings in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Seagate Technology during the fourth quarter valued at $31,000. 92.87% of the stock is owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Sanford C. Bernstein analyst expects STX shares to rise, which can drive bullish flows and sentiment. Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says
• Positive Sentiment: Seeking Alpha reports HAMR (heat-assisted magnetic recording) has moved from roadmap to production, tightening supply for high‑capacity drives and supporting margin expansion and large hyperscaler commitments — a key fundamental driver for near‑term revenue and mix improvement. Seagate: HAMR Has Matured Into A Supply Story
• Positive Sentiment: Market commentary highlights STX outperforming peers on a strong trading day, reinforcing momentum following recent quarterly beats and bullish coverage. Seagate Technology Holdings PLC stock outperforms competitors on strong trading day
• Positive Sentiment: Bernstein commentary noted Seagate (and peers) offer entry points after volatility, supporting buying interest from value/momentum traders. Seagate, SanDisk, WDC provide entry points after TurboQuant prompts plunge: Bernstein
• Neutral Sentiment: JPMorgan initiated coverage on STX (initiation may increase analyst visibility but tone wasn’t specified in the summary). JPMorgan Chase & Co. Initiates Coverage on Seagate Technology (NASDAQ:STX)
• Neutral Sentiment: Macro/industry pieces on AI-driven NAND and data growth signal broader demand tailwinds for storage infrastructure — supportive for long-term demand but indirect for HDD near‑term pricing. Will Rising AI Storage Needs Fuel Micron’s NAND Growth Through FY27?
• Neutral Sentiment: CEO William Mosley sold 20,000 shares under a pre-arranged Rule 10b5‑1 plan (disclosed to the SEC); planned insider sales are usually less alarming than ad‑hoc disposals. SEC filing: Mosley Form 4
• Negative Sentiment: Zacks downgraded Seagate from “strong‑buy” to “hold,” which can temper buy-side enthusiasm and weigh on sentiment. Zacks Downgrades Seagate
• Negative Sentiment: A Seeking Alpha piece warns the company may be richly valued at current levels despite being a good business, highlighting valuation risk for near‑term investors. Seagate: Good Company, But I Don’t Trust The Story At This Price

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.