Seagate Technology (NASDAQ:STX) Trading 3.6% Higher After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price rose 3.6% on Wednesday after Barclays upgraded the stock from an equal weight rating to an overweight rating. Barclays now has a $625.00 price target on the stock, up from their previous price target of $425.00. Seagate Technology traded as high as $586.00 and last traded at $579.88. Approximately 3,078,752 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 4,059,085 shares. The stock had previously closed at $559.90.

Several other analysts also recently commented on STX. UBS Group upped their price objective on shares of Seagate Technology from $440.00 to $515.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore boosted their target price on shares of Seagate Technology from $450.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Susquehanna upped their price target on shares of Seagate Technology from $420.00 to $485.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Sanford C. Bernstein increased their price target on Seagate Technology from $500.00 to $620.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Seagate Technology from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $514.13.

Insider Activity

In related news, Director Jay L. Geldmacher sold 925 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director owned 223 shares in the company, valued at approximately $99,908.46. This trade represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the transaction, the executive vice president directly owned 3,092 shares of the company’s stock, valued at $1,367,560.68. The trade was a 86.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 112,223 shares of company stock worth $46,711,217. 0.79% of the stock is currently owned by corporate insiders.

More Seagate Technology News

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

• Positive Sentiment: Barclays upgraded STX to Overweight and lifted its price target to $625, citing the ongoing HDD cycle tied to AI/data-center demand — a clear catalyst for the rally. Barclays lifts price target to $625
• Positive Sentiment: Bank of America also raised its price target to $605, adding to the momentum from top-tier brokers and supporting further upside expectations. BofA raises PT to $605
• Positive Sentiment: Multiple outlets note a string of bullish analyst coverage this week and an overall “moderate buy” consensus from brokerages, reinforcing investor confidence. What’s driving Seagate to all-time highs
• Positive Sentiment: Reports point to strong fundamentals: recent quarter showed revenue and EPS strength (and management set Q3 guidance in a higher range), which investors see as confirmation of secular AI-storage demand. Record high on 25% revenue surge
• Neutral Sentiment: Wall Street expects continued earnings growth next week, so near-term price action will be sensitive to the upcoming report vs. elevated expectations. Seagate reports next week
• Neutral Sentiment: Sector strength is broad: Western Digital also hit a 52-week high on AI-driven demand, signaling industry tailwinds but also increasing peer-valuation scrutiny. Western Digital hits 52-week high
• Negative Sentiment: UBS raised its price target but kept a Neutral rating (PT $515), highlighting that some analysts still see limited near-term upside from current levels. UBS keeps Neutral after raising PT
• Negative Sentiment: Valuation and leverage remain concerns: commentary warns the stock has run up sharply (large YTD gains) and Seagate carries high debt-to-equity, so downside risk exists if growth expectations slip. Valuation and debt risks

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently modified their holdings of STX. Cornerstone Wealth Group LLC boosted its position in Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after purchasing an additional 19 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock valued at $385,000 after buying an additional 25 shares in the last quarter. Trajan Wealth LLC raised its stake in shares of Seagate Technology by 1.9% during 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 during the period. Fortis Capital Management LLC raised its stake in shares of Seagate Technology by 1.1% during the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock worth $704,000 after buying an additional 27 shares during the period. Finally, EWA LLC lifted its position in shares of 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 buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 3.6%

The business has a 50-day moving average price of $428.10 and a 200-day moving average price of $339.13. The stock has a market cap of $126.45 billion, a PE ratio of 65.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.61. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, analysts forecast that Seagate Technology Holdings PLC will post 12.13 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Wednesday, March 25th. Seagate Technology’s dividend payout ratio is 33.48%.

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.