Seagate Technology (NASDAQ:STX) Stock Gets Price Target Cut from Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price objective decreased by investment analysts at Wells Fargo & Company from $865.00 to $820.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the data storage provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 22.05% from the stock’s current price.

STX has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Evercore restated an “outperform” rating on shares of Seagate Technology in a research note on Wednesday. Citigroup boosted their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Cantor Fitzgerald decreased their price target on shares of Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Morgan Stanley lowered their price target on shares of Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a report on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $981.64.

Seagate Technology Price Performance

STX traded up $3.99 during trading hours on Wednesday, reaching $671.84. 4,750,681 shares of the company’s stock traded hands, compared to its average volume of 4,431,234. The firm has a 50-day moving average price of $809.95 and a 200 day moving average price of $682.75. Seagate Technology has a 52-week low of $228.61 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.45 by $0.23. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 earnings per share. As a group, sell-side analysts anticipate that Seagate Technology will post 35.79 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In related news, EVP James Lee sold 547 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $642.14, for a total value of $351,250.58. Following the completion of the transaction, the executive vice president directly owned 1,037 shares of the company’s stock, valued at $665,899.18. This trade represents a 34.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.16, for a total transaction of $38,595,645.44. Following the completion of the transaction, the chief financial officer directly owned 70,756 shares of the company’s stock, valued at $54,634,952.96. The trade was a 41.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 467,506 shares of company stock valued at $379,191,992. Insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares in the last quarter. UNICOM Systems Inc. raised its stake in Seagate Technology by 18.2% during the 2nd quarter. UNICOM Systems Inc. now owns 43,500 shares of the data storage provider’s stock worth $41,978,000 after acquiring an additional 6,700 shares in the last quarter. USA Financial Formulas acquired a new stake in Seagate Technology during the 1st quarter worth $1,328,000. Financial Insights Inc. purchased a new position in Seagate Technology during the 2nd quarter worth approximately $706,000. Finally, Silverleafe Capital Partners LLC acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $820,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate reported fiscal Q1 revenue of $4.23 billion, up 61% year over year, and non-GAAP earnings of $7.68 per share, exceeding Wall Street estimates. Record free cash flow and a sharp increase in profitability underscore strong operating momentum. STX Q1 Earnings & Revenues Beat, Record Cash Flow Boosts Profitability
• Positive Sentiment: Management guided to approximately $4.8 billion in fiscal Q2 revenue and $9.20 in non-GAAP EPS, supported by data-center demand, favorable pricing and continued adoption of its HAMR-based Mozaic drives. Customer supply commitments extending through 2030 provide visibility for future growth. Seagate Q1 Earnings Call Highlights Strong Demand and HAMR Expansion
• Positive Sentiment: AI infrastructure remains a key demand catalyst: data-center revenue rose 63% year over year, while HAMR and SMR interoperability advances with Broadcom systems and Microsoft Azure could accelerate hyperscale adoption. Seagate also raised its quarterly dividend 2.7% to $0.76 per share. Seagate’s HAMR + SMR Breakthrough
• Neutral Sentiment: Analyst opinion remains broadly constructive, with Wedbush reaffirming an outperform rating and a $1,000 target, while Morgan Stanley retained overweight. However, TD Cowen cut its target to $900, Susquehanna reduced its target to $765 and Summit Insights downgraded the stock to hold, reflecting a more cautious risk-reward assessment. Analyst Forecast Revisions
• Negative Sentiment: The earnings beat may have fallen short of elevated investor expectations after STX’s substantial prior rally. Reports cite concerns about slowing shipment growth, potentially moderating margins and valuation, prompting profit-taking even as the outlook remains strong. Why is Seagate stock falling despite earnings beat?

Seagate Technology Company Profile

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.