Seagate Technology (NASDAQ:STX) Stock Gets Price Target Cut from Citigroup

Seagate Technology (NASDAQ:STX) had its price objective cut by Citigroup from $1,300.00 to $1,050.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

STX has been the subject of several other research reports. Bank of America upped their target price on shares of Seagate Technology from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Argus upped their price target on shares of Seagate Technology from $750.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen decreased their target price on Seagate Technology from $1,000.00 to $900.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities cut their price objective on Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on shares of Seagate Technology from $865.00 to $820.00 and set an “overweight” rating for the company in a research note on Wednesday. Twenty-two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,000.88.

Seagate Technology Trading Down 8.0%

Shares of STX stock opened at $644.58 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $146.57 billion, a price-to-earnings ratio of 35.67 and a beta of 2.06. The firm has a 50-day moving average price of $799.09 and a 200 day moving average price of $688.41. Seagate Technology has a twelve month low of $228.61 and a twelve month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company earned $2.61 EPS. The business’s quarterly revenue was up 61.0% compared to the same quarter last year. Research analysts forecast that Seagate Technology will post 36.37 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be given a $0.76 dividend. The ex-dividend date is Wednesday, December 23rd. This represents a $3.04 annualized dividend and a yield of 0.5%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.74. Seagate Technology’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Seagate Technology

In related news, EVP Ban Teh sold 52,730 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $782.08, for a total value of $41,239,078.40. Following the sale, the executive vice president owned 5,810 shares of the company’s stock, valued at $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 97,889 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer directly owned 378,108 shares in the company, valued at $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 466,812 shares of company stock valued at $378,583,042. 0.51% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

Several institutional investors have recently bought and sold shares of the stock. Signature Equity Partners LLC boosted its stake in shares of Seagate Technology by 383.3% in the 3rd quarter. Signature Equity Partners LLC now owns 29 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 23 shares in the last quarter. Retirement Wealth Solutions LLC grew its holdings in shares of Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 12 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Seagate Technology by 23.1% during the 1st 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 in the last quarter. WealthCollab LLC increased its position in shares of Seagate Technology by 27.4% during the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Seagate Technology during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

About Seagate Technology

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.