The Goldman Sachs Group Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price upped by equities research analysts at The Goldman Sachs Group from $310.00 to $385.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 13.79% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. UBS Group lifted their price target on shares of Seagate Technology from $335.00 to $385.00 and gave the company a “neutral” rating in a report on Wednesday. Cantor Fitzgerald increased their target price on Seagate Technology from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp set a $500.00 target price on Seagate Technology in a report on Wednesday. Wedbush upped their price target on Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, TD Cowen raised their price objective on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $411.04.

Seagate Technology Stock Performance

NASDAQ STX opened at $446.57 on Wednesday. The business’s 50-day moving average price is $301.25 and its 200 day moving average price is $236.62. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 7.63. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $457.84. The company has a market capitalization of $95.37 billion, a PE ratio of 50.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60.

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

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the transaction, the director directly owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 1,412 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $299.31, for a total transaction of $422,625.72. Following the completion of the transaction, the executive vice president owned 13,693 shares of the company’s stock, valued at $4,098,451.83. This trade represents a 9.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 124,902 shares of company stock worth $34,819,987. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC boosted its position in Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after buying an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the second quarter worth about $262,000. Public Employees Retirement System of Ohio purchased a new position in Seagate Technology in the second quarter valued at about $380,000. Sound Income Strategies LLC grew its stake in Seagate Technology by 143.3% during the 2nd quarter. Sound Income Strategies LLC now owns 1,535 shares of the data storage provider’s stock valued at $222,000 after purchasing an additional 904 shares in the last quarter. Finally, GC Wealth Management RIA LLC purchased a new stake in Seagate Technology during the 2nd quarter worth approximately $286,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology News Summary

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate reported $3.11 EPS and $2.83B revenue (both above consensus), delivered record margins and issued Q3 EPS guidance of $3.20–$3.60 (above Street estimates); this fundamental beat and stronger outlook are the main catalysts lifting the stock. Seagate Q2 Highlights
• Positive Sentiment: Demand commentary — Management said Seagate is effectively sold out through 2026 as AI-led data-center demand ramps, supporting visibility into revenue and pricing power for nearline capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Large analyst target upgrades — Multiple firms raised price targets and ratings after the print (examples: Robert W. Baird to $505, Cantor/Rosenblatt/TD Cowen to $500+, Evercore to $450 and Citigroup to $460), which likely amplified buying from momentum and institutional flows. Evercore Price Target Update
• Neutral Sentiment: Mixed analyst positioning — Some houses raised targets but a few major banks still have neutral/discounted targets relative to the rally (Goldman/UBS/Barclays still below the intraday highs), signaling differing views on sustainable valuation. Analyst Rating Coverage
• Neutral Sentiment: Dividend maintained — Seagate declared a quarterly dividend (modest yield ~0.7%), a shareholder-friendly item but unlikely to be a primary driver of the share move.
• Negative Sentiment: Insider sale — EVP James Ci Lee sold 673 shares recently, reducing his holdings materially; insider sales can be interpreted negatively by some investors even though the sale size is small relative to the market cap. SEC Form 4

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.