Seagate Technology (NASDAQ:STX) Hits New 12-Month High After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares hit a new 52-week high during mid-day trading on Thursday after BNP Paribas Exane upgraded the stock from a neutral rating to an outperform rating. BNP Paribas Exane now has a $380.00 price target on the stock. Seagate Technology traded as high as $349.55 and last traded at $344.22, with a volume of 4701053 shares. The stock had previously closed at $325.99.

Other equities analysts also recently issued research reports about the company. Bank of America upped their price objective on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday. Sanford C. Bernstein upped their target price on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Loop Capital lifted their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Wedbush upped their target price on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $350.41.

Insider Buying and Selling

In other Seagate Technology news, Director Stephanie Tilenius sold 2,046 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director directly owned 12,244 shares in the company, valued at $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $262.82, for a total value of $5,256,400.00. Following the transaction, the chief executive officer directly owned 465,668 shares in the company, valued at approximately $122,386,863.76. The trade was a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,557 shares of company stock worth $36,847,793 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Bank of America reiterated a Buy on STX and raised its target to $400, citing stronger visibility into revenue and margin growth and forecasting a robust fiscal Q2 driven by data‑center demand. Bank of America note / Proactive
• Positive Sentiment: Citigroup raised its price target to $385 and maintained a Buy rating, signaling analyst conviction that Seagate will capture AI/data‑center storage spending. Citigroup raise / Benzinga
• Positive Sentiment: BNP Paribas Exane upgraded STX from Neutral to Outperform with a $380 target — another upward revision that helped lift market sentiment. BNP Paribas upgrade / Finviz
• Positive Sentiment: Sector narrative: analysts and market pieces are shifting attention from GPUs to storage as AI workloads increase demand for both hot‑tier SSDs and large‑capacity HDDs — a structural tailwind for Seagate’s enterprise/data‑center business. Yahoo: Seagate rises after upgrade
• Neutral Sentiment: Rosenblatt and UBS raised targets (Rosenblatt to $370 buy; UBS raised its PT to $335 but kept a Neutral rating), reflecting higher earnings/valuation expectations while showing some variation in conviction. Rosenblatt/UBS / Benzinga
• Neutral Sentiment: Recent writeups looked at Seagate’s valuation after the rounds of upgrades and AI storage commentary — useful context for investors reassessing multiples amid faster revenue/margin visibility. Yahoo Finance valuation piece
• Negative Sentiment: Not all coverage is uniformly bullish: Zacks trimmed its rating from Strong‑Buy to Hold, introducing a countervailing view on near‑term upside and reminding investors some analysts see less immediate upside. Zacks downgrade TickerReport

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC purchased a new stake in Seagate Technology in the third quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its holdings in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after acquiring an additional 2,697,957 shares during the period. Norges Bank acquired a new stake in shares of Seagate Technology in the 2nd quarter worth approximately $197,027,000. Boston Partners purchased a new position in Seagate Technology during the 2nd quarter valued at about $193,500,000. Finally, Soroban Capital Partners LP lifted its position in shares of Seagate Technology by 1,468.1% in 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 acquiring an additional 1,327,197 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Price Performance

The stock has a market cap of $73.51 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.60. The stock’s 50-day moving average is $285.72 and its 200-day moving average is $227.19.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.74 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. Seagate Technology’s payout ratio is currently 38.00%.

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.