Seagate Technology (NASDAQ:STX) Price Target Raised to $1,300.00

Seagate Technology (NASDAQ:STX) had its target price raised by Citigroup from $1,240.00 to $1,300.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Other equities research analysts have also issued research reports about the company. Evercore lifted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Fox Advisors cut Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Rosenblatt Securities boosted their target price on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

Seagate Technology stock opened at $856.13 on Wednesday. Seagate Technology has a fifty-two week low of $144.75 and a fifty-two week high of $1,145.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.85 and a current ratio of 1.67. The stock has a market cap of $191.97 billion, a P/E ratio of 61.68 and a beta of 2.04. The firm’s fifty day moving average price is $896.91 and its 200-day moving average price is $627.82.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities research analysts expect that Seagate Technology will post 28.25 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is 21.33%.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction dated 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 in the company, valued at approximately $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. The transaction was disclosed in a 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, CFO Gianluca Romano sold 22,488 shares of the business’s 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 directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

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

Seagate Technology News Summary

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

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.