Seagate Technology (NASDAQ:STX) Price Target Raised to $1,240.00

Seagate Technology (NASDAQ:STX) had its price target raised by JPMorgan Chase & Co. from $1,095.00 to $1,240.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the data storage provider’s stock.

Several other equities research analysts have also commented on the company. Barclays boosted their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. BNP Paribas Exane lifted their price objective on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Bank of America boosted their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Loop Capital raised their price target on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $986.00.

Seagate Technology Stock Performance

Shares of STX stock opened at $856.13 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 0.85 and a debt-to-equity ratio of 1.56. The stock has a 50 day simple moving average of $896.91 and a 200-day simple moving average of $627.82. The company has a market cap of $191.97 billion, a price-to-earnings ratio of 61.68 and a beta of 2.04. Seagate Technology has a 12-month low of $144.75 and a 12-month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%.Seagate Technology’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, equities analysts forecast that Seagate Technology will post 28.25 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

Insider Activity

In related news, EVP Ban Seng Teh sold 989 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $870,507.91. Following the completion of the transaction, the executive vice president owned 4,290 shares in the company, valued at $3,776,015.10. This represents a 18.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $924.42, for a total value of $8,636,856.06. Following the completion of the sale, the chief executive officer owned 311,517 shares of the company’s stock, valued at $287,972,545.14. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently modified their holdings of the stock. Walker Asset Management LLC purchased a new position in Seagate Technology during the 2nd quarter worth approximately $338,000. Ballast Inc. purchased a new stake in shares of Seagate Technology in the second quarter valued at $222,000. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the second quarter valued at $354,000. Taylor & Morgan Wealth Management LLC boosted its position in shares of Seagate Technology by 8.8% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider’s stock worth $582,000 after buying an additional 49 shares during the period. Finally, Nolet Wealth Management LLC acquired a new stake in shares of Seagate Technology in the second quarter worth $293,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

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.