JPMorgan Chase & Co. initiated coverage on shares of Seagate Technology (NASDAQ:STX – Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The firm set an “overweight” rating and a $525.00 price target on the data storage provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 34.01% from the company’s previous close.
STX has been the topic of several other research reports. Bank of America increased their target price on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, February 4th. Barclays increased their price objective on shares of Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Finally, Rosenblatt Securities boosted their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $461.00.
Seagate Technology Stock Performance
Seagate Technology (NASDAQ:STX – Get Free Report) last released 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. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company earned $2.03 EPS. Seagate Technology’s revenue for the quarter was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, sell-side analysts anticipate that Seagate Technology will post 6.83 EPS for the current fiscal year.
Insider Transactions at Seagate Technology
In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares in the company, valued at approximately $99,908.46. This represents a 80.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Ci Lee sold 673 shares of the firm’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 directly owned 257 shares in the company, valued at $89,654.45. This trade represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 113,635 shares of company stock valued at $44,430,443. 0.79% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Seagate Technology
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC lifted its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. grew its stake in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth lifted its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners acquired a new position in Seagate Technology in the fourth quarter valued at about $28,000. 92.87% of the stock is owned by institutional investors.
Seagate Technology News Roundup
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Sanford C. Bernstein raised its price target to $620 (from $500) and kept an Outperform rating, arguing the recent pullback is a buying opportunity and forecasting strong upside for Seagate on AI/cloud demand. Seagate Technology Gets Bold $620 Target From Bernstein — Buy the Dip?
- Positive Sentiment: J.P. Morgan initiated coverage with an Overweight rating and $525 target, citing durable AI‑driven data‑center demand, pricing strength and margin expansion as reasons Seagate can extend gains despite the large run‑up. JPMorgan starts Seagate at Overweight, sees more upside despite 350% rally
- Positive Sentiment: Several outlets and analysts are framing recent pullbacks (partly mechanical/algo driven) as temporary, calling the dip a buying opportunity given Seagate’s recent beat on EPS and revenue, and company guidance pointing to continued strength. Seagate Technology: Why The 20% Plunge Is An Opportunity
- Neutral Sentiment: Analysis on HDD competition and technology — including coverage of Western Digital’s push into next‑gen HAMR and ePMR — underscores that both Seagate and peers are racing to meet surging cloud/AI capacity needs; this is strategic context rather than an immediate hit to Seagate’s outlook. Will Next-Gen HAMR & ePMR Drives Give Western Digital a Storage Edge?
- Neutral Sentiment: Coverage noting potential AI‑related headwinds to HDDs (but not driven by Alphabet’s algorithm changes) flags longer‑term demand mix questions for some workloads; this is being parsed but hasn’t overturned the bullish data‑center story. Seagate’s HDDs Face AI Headwinds, But Not From Alphabet’s New Algorithms
- Negative Sentiment: Sectorwide selling pressure—partly attributed to an apparent Nvidia design/roadmap shift and algorithmic (TurboQuant) trading—triggered a pullback in memory and storage stocks, briefly weighing on Seagate. Nvidia Design Shift Triggers Selloff in Memory Stocks
- Negative Sentiment: Intraday headlines noted sharp declines (one report cited a ~7% drop in a session) before analyst notes arrived, highlighting how momentum/algorithms can amplify downside even when fundamentals remain solid. Seagate stock is crashing 7% today: why JP Morgan is bullish
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.
Featured Articles
Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.
