Citigroup Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price hoisted by Citigroup from $740.00 to $1,150.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the data storage provider’s stock. Citigroup’s target price would suggest a potential upside of 24.28% from the stock’s previous close.

Several other brokerages also recently commented on STX. Rosenblatt Securities increased their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on Seagate Technology from $700.00 to $900.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, TD Cowen raised their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $772.04.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $925.35 on Tuesday. The stock has a market cap of $207.49 billion, a price-to-earnings ratio of 88.34 and a beta of 1.98. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology has a fifty-two week low of $116.78 and a fifty-two week high of $940.79. The firm’s 50-day simple moving average is $621.76 and its 200 day simple moving average is $437.45.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts anticipate that Seagate Technology will post 14.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephanie Tilenius sold 1,580 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the transaction, the director owned 10,664 shares of the company’s stock, valued at approximately $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president owned 11,954 shares in the company, valued at $8,826,474.98. This trade represents a 32.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 122,437 shares of company stock worth $78,398,375. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after purchasing an additional 442,749 shares during the last quarter. State Street Corp raised its position in shares of Seagate Technology by 1.0% during the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley raised its position in shares of Seagate Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after buying an additional 258,151 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Seagate Technology during the 3rd quarter worth $1,187,621,000. Finally, Geode Capital Management LLC grew its position in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

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.