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

Seagate Technology (NASDAQ:STX) had its price target increased by equities researchers at Wedbush from $290.00 to $380.00 in a research report issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Wedbush’s target price would indicate a potential upside of 11.18% from the stock’s current price.

Several other brokerages have also recently weighed in on STX. Loop Capital upped their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $150.00 to $280.00 in a research note on Friday, January 16th. Evercore ISI raised their target price on Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Fox Advisors lifted their price target on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $356.09.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded down $4.75 on Friday, hitting $341.78. The stock had a trading volume of 466,316 shares, compared to its average volume of 3,411,027. The firm’s 50 day moving average price is $287.40 and its 200-day moving average price is $228.02. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $350.05. The company has a market capitalization of $72.99 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60.

Insider Activity at Seagate Technology

In related news, EVP Kian Fatt Chong sold 7,078 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $272.14, for a total transaction of $1,926,206.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of Seagate Technology stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $266.41, for a total value of $545,074.86. Following the transaction, the director owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 132,557 shares of company stock valued at $36,847,793. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new stake in shares of Seagate Technology in the second quarter valued at about $27,000. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology during the fourth quarter worth approximately $28,000. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at approximately $29,000. Finally, First Horizon Corp bought a new stake in shares of Seagate Technology in the third quarter valued at approximately $33,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Seagate Technology News

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

• Positive Sentiment: BNP Paribas Exane upgraded Seagate to Outperform/Strong-Buy and set a $380 target, a catalyst for recent upside as analysts push targets higher. Seagate Technology (NASDAQ:STX) Raised to Outperform at BNP Paribas Exane
• Positive Sentiment: Broad analyst bullishness (Rosenblatt, Bank of America, UBS) and follow-on upgrades helped push STX to a 12‑month high, signaling strong investor momentum behind the AI-storage narrative. Seagate Technology (NASDAQ:STX) Hits New 12-Month High After Analyst Upgrade
• Positive Sentiment: Product/technology tailwinds: Zacks highlights Seagate’s areal‑density roadmap and HAMR-powered Mozaic drives that keep HDD $/TB competitive as hyperscalers scale AI storage to 36TB+, supporting long-term demand and margins. Seagate Elevates HDD Performance Through Aerial Density Advancements
• Positive Sentiment: Earnings setup: Zacks argues Seagate’s history of beats and current positioning make another earnings beat likely, which supports upside if management outperforms consensus. Why Seagate (STX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Sector rotation: MarketBeat says institutional money is shifting from chips to memory/storage as AI demand shifts the bottleneck to capacity — a macro tailwind for Seagate’s HDD/cold-tier business. Forget the Chips, Buy Memory: Why AI Money Is Moving to Storage
• Neutral Sentiment: Long-term performance: A Benzinga piece showing 5‑year returns is informative for investors considering STX as a multi-year holding, but it is descriptive rather than a fresh catalyst. $1000 Invested In Seagate Technology Hldgs 5 Years Ago Would Be Worth This Much Today
• Negative Sentiment: Valuation/near-term ceiling: Seeking Alpha warns Seagate trades at near‑all‑time high forward multiples (~29x forward P/E per the note), revenue growth may decelerate (Q2 guidance implies ~16% y/y), and nearline capacity is largely booked through 2026 — which could cap upside and raise risk of limited beats. Seagate: Outlandish Valuation With Little Upside

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.