Seagate Technology (NASDAQ:STX) Stock Price Target Cut by Morgan Stanley

Posted by Francis Steltz on Oct 28th, 2026

Seagate Technology (NASDAQ:STX – Get Free Report) had its price target decreased by investment analysts at Morgan Stanley from $1,200.00 to $1,148.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Morgan Stanley‘s price objective indicates a potential upside of 71.89% from the stock’s previous close.

STX has been the subject of several other research reports. Barclays raised their target price on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Cantor Fitzgerald cut their price target on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Monday. Weiss Ratings upgraded Seagate Technology from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Wedbush boosted their price objective on Seagate Technology from $825.00 to $1,000.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $983.64.

Read Our Latest Stock Analysis on Seagate Technology

Seagate Technology Stock Up 3.7%

Seagate Technology stock opened at $667.85 on Wednesday. Seagate Technology has a 52 week low of $217.67 and a 52 week high of $1,145.00. The stock has a 50-day moving average price of $809.95 and a 200 day moving average price of $682.75.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping the consensus estimate of $7.45 by $0.23. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.15 billion. Seagate Technology’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.61 EPS. Research analysts anticipate that Seagate Technology will post 35.79 EPS for the current year.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 97,889 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 378,108 shares in the company, valued at approximately $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. The trade was a 90.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 467,506 shares of company stock worth $379,191,992 over the last three months. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Retirement Wealth Solutions LLC increased its holdings in shares of Seagate Technology by 70.6% in the second quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares during the last quarter. Bridgewater Advisors Inc. lifted its position in Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after buying an additional 13 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in Seagate Technology by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock worth $295,000 after buying an additional 14 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Seagate Technology by 23.1% during the first 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. Finally, One River Asset Management LLC boosted its stake in Seagate Technology by 50.0% during the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after buying an additional 15 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Seagate Technology

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

Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of $4.23 billion, up 61% year over year, and non-GAAP earnings of $7.68 per share, exceeding analyst expectations. Data-center revenue rose 63%, helping generate record cash flow. Seagate Beats Q1 Earnings and Revenue Estimates
Positive Sentiment: Management projected approximately $4.8 billion in December-quarter revenue and $9.20 in non-GAAP EPS, above consensus expectations. The outlook reflects continued pricing strength and demand from AI infrastructure and hyperscale data centers. Seagate Expects December-Quarter Revenue and EPS
Positive Sentiment: Seagate raised its quarterly dividend 2.7% to $0.76 per share and plans to emphasize share repurchases, signaling confidence in cash generation. Its HAMR and SMR technologies also achieved interoperability validation with Broadcom systems and Microsoft Azure, potentially accelerating adoption by cloud customers. Seagate HAMR and SMR Breakthrough
Neutral Sentiment: Analysts remain broadly constructive, with Cantor Fitzgerald retaining an “overweight” rating, although it reduced its price target to $1,000 from $1,300. The cut reflects greater caution following the stock’s sharp prior rally. Cantor Fitzgerald Seagate Rating
Negative Sentiment: The shares declined in after-hours trading despite the earnings beat and raised outlook. Investors appear concerned that expectations and valuation are already high, while commentary about moderating margin growth encouraged profit-taking after a strong run. Seagate Earnings Beat but Valuation Concerns Remain
Negative Sentiment: An executive’s sale of approximately $351,000 in stock adds a modest sentiment headwind, although the transaction is small relative to Seagate’s market value. Seagate Executive Stock Sale

Seagate Technology Company Profile

(Get Free Report)

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.