Seagate Technology (NASDAQ:STX) Price Target Raised to $582.00 at Morgan Stanley

Seagate Technology (NASDAQ:STX) had its target price hoisted by investment analysts at Morgan Stanley from $468.00 to $582.00 in a report issued on Monday. The firm presently has an “overweight” rating on the data storage provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 35.55% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Barclays increased their target price on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. JPMorgan Chase & Co. started coverage on Seagate Technology in a research note on Monday, March 30th. They set an “overweight” rating and a $525.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on shares of Seagate Technology from $500.00 to $620.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Finally, Argus boosted their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $469.75.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $429.36 on Monday. The firm has a market cap of $93.63 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.61. The firm’s 50-day simple moving average is $404.33 and its 200-day simple moving average is $315.31. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $459.84.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president owned 257 shares in the company, valued at approximately $89,654.45. This represents a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,635 shares of company stock worth $47,133,843 over the last 90 days. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gateway Investment Advisers LLC boosted its position in shares of Seagate Technology by 1.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock worth $385,000 after buying an additional 25 shares during the period. Trajan Wealth LLC grew its holdings in Seagate Technology by 1.9% in the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock worth $365,000 after buying an additional 25 shares in the last quarter. Fortis Capital Management LLC increased its position in Seagate Technology by 1.1% in the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 27 shares during the period. EWA LLC raised its stake in Seagate Technology by 2.1% during the 4th quarter. EWA LLC now owns 1,370 shares of the data storage provider’s stock valued at $377,000 after acquiring an additional 28 shares in the last quarter. Finally, Icon Wealth Advisors LLC raised its stake in Seagate Technology by 2.7% during the 4th quarter. Icon Wealth Advisors LLC now owns 1,060 shares of the data storage provider’s stock valued at $292,000 after acquiring an additional 28 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.