Seagate Technology (NASDAQ:STX) Given New $1,300.00 Price Target at Cantor Fitzgerald

Seagate Technology (NASDAQ:STX) had its price objective upped by stock analysts at Cantor Fitzgerald from $1,000.00 to $1,300.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the data storage provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 42.47% from the company’s previous close.

Several other equities research analysts also recently issued reports on STX. China Renaissance raised their price target on Seagate Technology from $802.00 to $983.00 in a report on Friday, June 12th. Wall Street Zen raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Argus raised their target price on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Loop Capital increased their price target on shares of Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $874.52.

Seagate Technology Stock Performance

NASDAQ:STX traded up $12.56 on Monday, hitting $912.46. The company’s stock had a trading volume of 1,515,719 shares, compared to its average volume of 4,202,693. Seagate Technology has a one year low of $138.30 and a one year high of $1,145.00. The firm has a market capitalization of $204.60 billion, a P/E ratio of 86.16 and a beta of 2.04. The stock has a fifty day moving average of $818.72 and a two-hundred day moving average of $530.88. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology will post 14.14 earnings per share for the current year.

Insider Activity

In related news, Director Shankar Arumugavelu sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $927.68, for a total value of $927,680.00. Following the completion of the transaction, the director owned 6,626 shares of the company’s stock, valued at $6,146,807.68. The trade was a 13.11% 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, CEO William D. Mosley sold 1,768 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,556,175.92. Following the sale, the chief executive officer directly owned 327,517 shares of the company’s stock, valued at $288,277,188.23. This represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 141,069 shares of company stock worth $107,161,712. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after acquiring an additional 1,883,769 shares during the last quarter. Norges Bank bought a new position in Seagate Technology in the fourth quarter valued at approximately $498,363,000. Soroban Capital Partners LP raised its position in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Seagate Technology by 3,872.1% during the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock valued at $378,985,000 after purchasing an additional 943,170 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

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.