Seagate Technology (NASDAQ:STX) Price Target Raised to $550.00

Seagate Technology (NASDAQ:STX) had its price target lifted by research analysts at Evercore from $450.00 to $550.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Evercore’s target price would indicate a potential upside of 10.38% from the stock’s current price.

Several other research analysts also recently weighed in on STX. Loop Capital boosted their target price on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Bank of America boosted their target price on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Citigroup boosted their target price on Seagate Technology from $460.00 to $480.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. KeyCorp set a $500.00 target price on Seagate Technology in a research note on Wednesday, January 28th. Finally, Morgan Stanley boosted their target price on Seagate Technology from $468.00 to $582.00 and gave the stock an “overweight” rating in a research note on Monday. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $473.92.

Seagate Technology Trading Up 0.4%

Shares of NASDAQ:STX opened at $498.30 on Wednesday. Seagate Technology has a 12-month low of $67.63 and a 12-month high of $517.18. The business’s fifty day simple moving average is $409.24 and its 200-day simple moving average is $319.96. The company has a market capitalization of $108.66 billion, a PE ratio of 56.43, a P/E/G ratio of 0.95 and a beta of 1.61. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.73 billion. During the same period last year, the business posted $2.03 EPS. The business’s revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities research analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director owned 223 shares of the company’s stock, valued at $99,908.46. The trade was a 80.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 113,635 shares of company stock worth $47,133,843. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of large investors have recently bought and sold shares of STX. Integrated Wealth Concepts LLC raised its holdings in Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after purchasing an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in Seagate Technology in the 2nd quarter worth about $262,000. Quantbot Technologies LP acquired a new position in Seagate Technology in the 2nd quarter worth about $530,000. EverSource Wealth Advisors LLC raised its holdings in Seagate Technology by 29.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,630 shares of the data storage provider’s stock worth $235,000 after purchasing an additional 372 shares during the period. Finally, Cerity Partners LLC raised its holdings in Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after purchasing an additional 7,517 shares during the period. Institutional investors and hedge funds 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.