Citigroup Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its target price boosted by investment analysts at Citigroup from $595.00 to $740.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price target would suggest a potential upside of 10.11% from the company’s current price.

A number of other brokerages have also commented on STX. BNP Paribas Exane boosted their price target on Seagate Technology from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Sanford C. Bernstein increased their price objective on Seagate Technology from $500.00 to $620.00 and gave the stock an “outperform” rating in a report on Thursday, April 9th. Morgan Stanley lifted their target price on Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a research report on Wednesday. Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group raised their price target on shares of Seagate Technology from $440.00 to $515.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 21st. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $649.54.

Seagate Technology Stock Up 16.1%

Seagate Technology stock opened at $672.05 on Wednesday. The company has a 50 day moving average of $444.55 and a 200-day moving average of $351.81. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology has a twelve month low of $85.47 and a twelve month high of $693.70. The stock has a market capitalization of $146.56 billion, a PE ratio of 75.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.63. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.94 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts anticipate that Seagate Technology will post 12.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 24,584 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the sale, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. This represents a 6.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction that occurred on 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 three months, insiders sold 111,550 shares of company stock valued at $46,476,441. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Vanguard Group Inc. lifted its stake in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock valued at $6,642,796,000 after acquiring an additional 442,749 shares during the last quarter. State Street Corp raised its holdings in shares of Seagate Technology by 1.0% in the 4th quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after purchasing an additional 94,527 shares during the period. Morgan Stanley raised its holdings in shares of Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after purchasing an additional 258,151 shares during the period. WCM Investment Management LLC acquired a new stake in Seagate Technology in the 3rd quarter valued at about $1,187,621,000. Finally, Geode Capital Management LLC lifted its stake in Seagate Technology by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after purchasing an additional 234,436 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Q3 results materially beat expectations — EPS $4.10 vs. consensus ~$3.47 and revenue $3.11B vs. ~$2.94B; company reported record margins and roughly $1B of free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Very strong forward guidance — Q4 EPS guided to $4.80–$5.20 (street ~3.89) and revenue guided to $3.4–$3.6B — signaling continued AI/data‑center demand. Reuters: Seagate forecasts upbeat quarter
• Positive Sentiment: Wall Street is repricing the stock: Rosenblatt raised its price target to $1,000 (buy), and other firms (Wedbush, BofA, Cantor) have lifted targets to the $700 area — signaling big upside in analyst models. Rosenblatt price-target note
• Positive Sentiment: Sector lift: Seagate’s upbeat forecast helped lift storage peers and pushed storage stocks higher on expectations of sustained AI spending. Reuters: Storage stocks jump
• Neutral Sentiment: Board declared a quarterly dividend of $0.74/share (record June 24, payable July 7); yield ~0.5% — a small income signal but not a primary catalyst.
• Negative Sentiment: Risks and valuation — STX now trades with a high P/E (~65.5) and very high reported debt-to-equity (~7.6). Rapid re‑rating raises downside risk if AI/data‑center demand slows or HAMR adoption/timing disappoints.

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.