Seagate Technology (NASDAQ:STX) Given New $1,140.00 Price Target at Loop Capital

Seagate Technology (NASDAQ:STX) had its target price lifted by Loop Capital from $950.00 to $1,140.00 in a report released on Friday morning,MarketScreener reports. Loop Capital currently has a buy rating on the data storage provider’s stock.

Several other research firms have also weighed in on STX. Sanford C. Bernstein lifted their price target on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Barclays lifted their price objective on Seagate Technology from $625.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price objective on Seagate Technology from $450.00 to $700.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. Finally, Cantor Fitzgerald lifted their price objective on Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $733.71.

Seagate Technology Price Performance

Shares of STX stock opened at $795.47 on Friday. The firm has a market cap of $178.37 billion, a P/E ratio of 75.47 and a beta of 1.98. Seagate Technology has a fifty-two week low of $103.73 and a fifty-two week high of $841.31. The business’s 50 day moving average price is $526.24 and its 200-day moving average price is $393.24. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business’s quarterly revenue was up 44.1% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. 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 14.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th will be paid a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.4%. Seagate Technology’s payout ratio is currently 28.08%.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 24,584 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. The trade was a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 118,283 shares of company stock valued at $65,989,618. Insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds have recently bought and sold shares of the company. National Pension Service increased its position in Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock valued at $59,044,000 after acquiring an additional 54,722 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in Seagate Technology during the fourth quarter valued at $23,882,000. Sumitomo Mitsui Trust Group Inc. increased its position in Seagate Technology by 1.2% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider’s stock valued at $142,874,000 after acquiring an additional 6,028 shares during the last quarter. New York State Teachers Retirement System increased its position in Seagate Technology by 5.0% during the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Finally, Keystone Investors PTE Ltd. increased its position in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after buying an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Loop Capital raised its price target on Seagate Technology (STX) from $950 to $1,140 and reiterated a buy rating, signaling confidence that AI-driven storage demand and Seagate’s product mix can keep earnings momentum strong.
• Positive Sentiment: Recent market coverage continues to highlight Seagate as a beneficiary of booming AI data center spending, with strong enterprise storage demand and HAMR adoption supporting the company’s growth outlook.
• Neutral Sentiment: Seagate also remains in focus after reporting a strong earnings beat and raising guidance, which reinforces the view that fundamentals are improving even after a sharp run-up in the share price.
• Negative Sentiment: Investor sentiment may be pressured by recent insider selling, as EVP Ban Seng Teh sold shares in two transactions under a pre-arranged 10b5-1 plan, which can still be read cautiously by the market.
• Negative Sentiment: The planned retirement of Lead Independent Director Mike Cannon adds a governance change that could create some uncertainty, even though it does not directly affect operations.

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.