Seagate Technology (NASDAQ:STX) Price Target Raised to $1,180.00

Seagate Technology (NASDAQ:STX) had its price objective hoisted by Wells Fargo & Company from $1,100.00 to $1,180.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the data storage provider’s stock.

A number of other equities research analysts also recently weighed in on the company. China Renaissance lifted their target price on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. JPMorgan Chase & Co. raised their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. TD Cowen lifted their price objective on Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Fox Advisors lowered Seagate Technology from an “overweight” rating to an “equal weight” rating in a report on Monday, June 22nd. Finally, Bank of America raised their price target on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $986.00.

Seagate Technology Trading Up 0.5%

NASDAQ:STX opened at $856.13 on Wednesday. Seagate Technology has a twelve month low of $144.75 and a twelve month high of $1,145.00. The business has a 50 day moving average price of $896.91 and a two-hundred day moving average price of $627.82. The company has a market cap of $191.97 billion, a P/E ratio of 61.68 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Thursday, September 24th will be given 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 is Thursday, September 24th. Seagate Technology’s payout ratio is presently 21.33%.

Insider Activity at Seagate Technology

In related news, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares of the company’s stock, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total value of $8,636,856.06. Following the sale, the chief executive officer directly owned 311,517 shares of the company’s stock, valued at approximately $287,972,545.14. This represents a 2.91% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently bought and sold shares of STX. Annis Gardner Whiting Capital Advisors LLC lifted its position in Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares during the last quarter. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. WealthCollab LLC grew its position in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Seagate Technology during the first quarter worth approximately $39,000. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Key Seagate Technology News

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.