Seagate Technology (NASDAQ:STX) Price Target Raised to $480.00 at Citigroup

Seagate Technology (NASDAQ:STX) had its target price hoisted by equities research analysts at Citigroup from $460.00 to $480.00 in a report issued on Friday,MarketScreener reports. The firm presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price objective points to a potential upside of 13.02% from the stock’s previous close.

STX has been the topic of a number of other reports. Robert W. Baird upped their target price on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and upped their target price for the stock from $150.00 to $280.00 in a research note on Friday, January 16th. China Renaissance raised their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Fox Advisors upped their price objective on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Finally, Exane BNP Paribas raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $431.48.

Seagate Technology Price Performance

STX stock opened at $424.70 on Friday. The company’s fifty day simple moving average is $317.49 and its 200 day simple moving average is $246.12. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $459.41. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The firm has a market cap of $92.61 billion, a price-to-earnings ratio of 47.91, a PEG ratio of 0.94 and a beta of 1.62.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts expect that Seagate Technology will post 6.83 earnings per share for the current year.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the completion of the transaction, the chief executive officer owned 410,056 shares in the company, valued at $176,024,739.12. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the sale, the director directly owned 223 shares of the company’s stock, valued at approximately $99,908.46. This represents a 80.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 137,976 shares of company stock valued at $45,330,378. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC raised its position in shares of Seagate Technology by 168.0% during the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Seagate Technology during the 2nd quarter valued at $262,000. Ameritas Advisory Services LLC bought a new stake in Seagate Technology in the second quarter worth about $76,000. Valeo Financial Advisors LLC bought a new stake in shares of Seagate Technology during the second quarter worth $365,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Seagate Technology in the second quarter valued at approximately $485,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

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.