Seagate Technology (NASDAQ:STX) Trading 2.3% Higher After Analyst Upgrade

Shares of Seagate Technology Holdings PLC (NASDAQ:STX) traded up 2.3% during trading on Friday after Wells Fargo & Company upgraded the stock from an equal weight rating to an overweight rating. Wells Fargo & Company now has a $1,100.00 price target on the stock, up from their previous price target of $900.00. Seagate Technology traded as high as $927.28 and last traded at $910.34. 3,950,345 shares were traded during trading, a decline of 7% from the average daily volume of 4,248,845 shares. The stock had previously closed at $890.09.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen lifted their target price on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup upped their price target on Seagate Technology from $740.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wedbush lifted their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $894.92.

Insider Activity

In related news, CEO William D. Mosley sold 30,000 shares of Seagate Technology stock in a transaction dated 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 transaction, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares of the company’s stock, valued at $3,016,580.48. This represents a 68.44% 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 have sold 151,069 shares of company stock valued at $126,191,753 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Wells Fargo upgraded Seagate to Overweight from Equal Weight and lifted its price target to $1,100 from $900, citing stronger confidence in long-term earnings power and continued hard-disk-drive demand tied to AI infrastructure. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Multiple market updates highlighted Seagate as a beneficiary of the AI data-center buildout, with commentary pointing to rising storage demand, margin expansion, and potential upside from HAMR technology and cloud spending. Cloud Giants Record $1.1T RPO: A Growth Catalyst for Seagate?
• Positive Sentiment: Seagate was also mentioned in broader analyst roundups as one of the names with improving Wall Street forecasts, reinforcing sentiment that the stock still has room to run after its recent rebound. Here Are Friday’s Best Wall Street Analyst Research Calls
• Neutral Sentiment: Recent articles also framed Seagate as part of a broader rebound in memory and storage stocks, alongside peers like Western Digital and Micron, after a sector selloff reversed. This supports the stock, but the move appears driven more by sector momentum than by a company-specific fundamental update. Seagate (STX) Stock Rebounds As AI Data Center Demand Lifts Storage Names

Hedge Funds Weigh In On Seagate Technology

Large investors have recently modified their holdings of the stock. Salomon & Ludwin LLC lifted its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology in the 4th quarter valued at $28,000. Avion Wealth lifted 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 worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Price Performance

The firm has a market capitalization of $204.13 billion, a price-to-earnings ratio of 86.37 and a beta of 2.04. The company’s 50 day moving average is $875.26 and its 200 day moving average is $568.33. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology Holdings PLC will post 14.14 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, June 24th. Seagate Technology’s dividend payout ratio is presently 28.08%.

Seagate Technology Company Profile

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.