Barclays Raises Seagate Technology (NASDAQ:STX) Price Target to $425.00

Seagate Technology (NASDAQ:STX) had its price objective upped by research analysts at Barclays from $370.00 to $425.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the data storage provider’s stock. Barclays‘s price objective would suggest a potential downside of 4.83% from the company’s previous close.

Other analysts have also issued research reports about the stock. Rosenblatt Securities raised their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday. Argus raised their price objective on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Citigroup boosted their price objective on Seagate Technology from $320.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Bank of America increased their target price on Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company boosted their price target on Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $411.04.

Seagate Technology Stock Performance

NASDAQ:STX opened at $446.57 on Wednesday. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $457.84. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The stock’s 50-day simple moving average is $301.25 and its 200 day simple moving average is $236.62. The firm 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 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 net margin of 19.59% and a negative return on equity of 936.38%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The business’s revenue for the quarter 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, analysts anticipate that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the transaction, the chief executive officer owned 429,895 shares of the company’s stock, valued at approximately $122,760,816.20. The trade was a 4.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 124,902 shares of company stock valued at $34,819,987 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of STX. Salomon & Ludwin LLC raised its position 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 worth $27,000 after acquiring an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology during the fourth quarter worth approximately $28,000. Concord Wealth Partners bought a new stake in Seagate Technology in the fourth quarter worth approximately $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, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Seagate Technology in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology News Roundup

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

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.