Seagate Technology (NASDAQ:STX) Upgraded by Wells Fargo & Company to “Overweight” Rating

Wells Fargo & Company upgraded shares of Seagate Technology (NASDAQ:STX) from an equal weight rating to an overweight rating in a report published on Friday morning, Marketbeat reports. The brokerage currently has $1,100.00 target price on the data storage provider’s stock, up from their prior target price of $900.00.

Other equities analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of 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. Wall Street Zen upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. BNP Paribas Exane lifted their target price on shares of Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Morgan Stanley upped their price target on shares of Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Finally, Mizuho increased their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $894.92.

Seagate Technology Price Performance

NASDAQ:STX opened at $910.34 on Friday. Seagate Technology has a 12-month low of $138.30 and a 12-month high of $1,145.00. The firm has a market capitalization of $204.13 billion, a price-to-earnings ratio of 86.37 and a beta of 2.04. The stock’s 50 day moving average price is $880.60 and its two-hundred day moving average price is $570.72. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts anticipate that Seagate Technology will post 14.14 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Wednesday, June 24th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology’s dividend payout ratio (DPR) is currently 28.08%.

Insider Buying and Selling at Seagate Technology

In related news, EVP John Christopher Morris sold 1,364 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 9,343 shares of the 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 sale, the chief executive officer directly owned 311,517 shares in the company, valued at $287,972,545.14. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 151,069 shares of company stock valued at $126,191,753 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC lifted its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. increased its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. Avion Wealth raised its position in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Institutional investors own 92.87% of the company’s stock.

Key Seagate Technology News

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

• Positive Sentiment: Wells Fargo upgraded Seagate to Overweight from Equal Weight and lifted its price target to $1,100 from $900, citing stronger confidence in long-term earnings power and continued hard-disk-drive demand tied to AI infrastructure. Seagate Stock Rises After Analyst Upgrades To Buy. Western Digital Nabs Price-Target Hike.
• Positive Sentiment: Multiple market updates highlighted Seagate as a beneficiary of the AI data-center buildout, with commentary pointing to rising storage demand, margin expansion, and potential upside from HAMR technology and cloud spending. Cloud Giants Record $1.1T RPO: A Growth Catalyst for Seagate?
• Positive Sentiment: Seagate was also mentioned in broader analyst roundups as one of the names with improving Wall Street forecasts, reinforcing sentiment that the stock still has room to run after its recent rebound. Here Are Friday’s Best Wall Street Analyst Research Calls
• Neutral Sentiment: Recent articles also framed Seagate as part of a broader rebound in memory and storage stocks, alongside peers like Western Digital and Micron, after a sector selloff reversed. This supports the stock, but the move appears driven more by sector momentum than by a company-specific fundamental update. Seagate (STX) Stock Rebounds As AI Data Center Demand Lifts Storage Names

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.