Seagate Technology (NASDAQ:STX) Stock Gets Price Target Trim from TD Cowen

Seagate Technology (NASDAQ:STX) had its target price reduced by TD Cowen from $1,000.00 to $900.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the data storage provider’s stock.

A number of other brokerages have also commented on STX. Sanford C. Bernstein reiterated an “outperform” rating and set a $1,350.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Wedbush restated an “outperform” rating and issued a $1,000.00 price objective on shares of Seagate Technology in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Argus raised their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald cut their target price on Seagate Technology from $1,300.00 to $1,000.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Twenty-two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,000.88.

Seagate Technology Stock Performance

Seagate Technology stock opened at $644.58 on Wednesday. The business has a 50 day moving average of $799.09 and a 200-day moving average of $688.41. Seagate Technology has a 1 year low of $228.61 and a 1 year high of $1,145.00. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.17. The company has a market capitalization of $146.57 billion, a P/E ratio of 35.67 and a beta of 2.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business earned $2.61 EPS. The firm’s quarterly revenue was up 61.0% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology will post 36.37 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Wednesday, December 23rd will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 0.5%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date is Wednesday, December 23rd. Seagate Technology’s dividend payout ratio is currently 15.55%.

Insider Activity

In other Seagate Technology news, EVP John Morris sold 15,466 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total transaction of $11,942,071.90. Following the sale, the executive vice president owned 31,132 shares of the company’s stock, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mosley sold 97,889 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the sale, the chief executive officer owned 378,108 shares of the company’s stock, valued at approximately $291,952,311.12. The trade was a 20.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 466,812 shares of company stock worth $378,583,042 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STX. Wellington Management Group LLP increased its stake in shares of Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock valued at $2,329,641,000 after buying an additional 2,326,538 shares during the period. National Pension Service lifted its stake in Seagate Technology by 0.8% in the second quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock worth $805,490,000 after acquiring an additional 6,944 shares during the period. Janus Henderson Group PLC lifted its stake in Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares during the period. Amundi lifted its stake in Seagate Technology by 32.2% in the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock worth $378,267,000 after acquiring an additional 235,359 shares during the period. Finally, Swedbank AB boosted its holdings in Seagate Technology by 67.6% in the first quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after acquiring an additional 285,949 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported fiscal Q1 2027 revenue of approximately $4.23 billion, up 61% year over year, and non-GAAP EPS of $7.68, exceeding the $7.44 consensus estimate. Record free cash flow of roughly $1.5 billion, stronger pricing and robust mass-capacity demand support the company’s AI and cloud-storage growth outlook. Seagate Q1 Earnings Ride Record Cash Flow and AI Demand
• Positive Sentiment: Analysts continue to highlight Seagate’s exposure to expanding data-center capacity needs. Some commentary favors STX over Western Digital because of its higher return on equity, lower forward valuation and record cash generation. Western Digital vs. Seagate
• Positive Sentiment: Seagate announced a dividend increase, adding to its appeal for income-oriented investors during market volatility and ongoing inflation and interest-rate uncertainty. Stocks That Declared Dividend Hikes
• Positive Sentiment: Wedbush maintained an “Outperform” rating, while Morgan Stanley reportedly reduced its target but still sees substantial potential upside, indicating that some analysts view the pullback as an opportunity. Wedbush Outperform Rating
• Neutral Sentiment: The earnings response has been muted because elevated expectations appear to have been largely priced into STX after its substantial prior run. Investors are weighing excellent results against valuation, future growth assumptions and the sustainability of AI-driven demand. Post-Earnings Pullback
• Negative Sentiment: Seagate is declining alongside Sandisk, Western Digital and Micron in a broader semiconductor and memory-stock selloff, suggesting sector-wide profit-taking is outweighing the company’s earnings beat. Storage and Memory Stocks Sell Off
• Negative Sentiment: TD Cowen, Morgan Stanley, Citigroup, Susquehanna and Wells Fargo lowered their price targets or forecasts. Summit Insights also downgraded the stock, creating near-term pressure even though several firms remain constructive. TD Cowen Cuts Seagate Price Target

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.