Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Barclays Analyst Says

Seagate Technology (NASDAQ:STX) had its price target hoisted by equities research analysts at Barclays from $750.00 to $1,000.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “overweight” rating on the data storage provider’s stock. Barclays‘s target price would suggest a potential upside of 15.89% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Seagate Technology from $525.00 to $775.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Rosenblatt Securities raised their target price on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $746.63.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $862.90 on Wednesday. Seagate Technology has a 12-month low of $116.28 and a 12-month high of $875.87. The company has a market cap of $193.49 billion, a PE ratio of 81.90 and a beta of 1.98. The stock has a 50 day simple moving average of $583.93 and a 200-day simple moving average of $420.46. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The firm’s revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts forecast that Seagate Technology will post 14.1 EPS for the current year.

Insider Activity at Seagate Technology

In other news, Director Stephanie Tilenius sold 1,580 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the completion of the sale, the director directly owned 10,664 shares of the company’s stock, valued at $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gianluca Romano sold 1,902 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $770.00, for a total value of $1,464,540.00. Following the completion of the transaction, the chief financial officer owned 40,945 shares of the company’s stock, valued at $31,527,650. This trade represents a 4.44% 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 sold 142,437 shares of company stock valued at $86,093,575 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC raised its stake 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 purchasing an additional 51 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the fourth quarter valued at $28,000. Avion Wealth raised its position in 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 buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new stake in Seagate Technology in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.