Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Citigroup Analyst Says

Seagate Technology (NASDAQ:STX) had its price target hoisted by Citigroup from $385.00 to $460.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the data storage provider’s stock. Citigroup’s price objective points to a potential upside of 12.83% from the stock’s current price.

STX has been the subject of a number of other research reports. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho increased their price target on shares of Seagate Technology from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday. Argus lifted their target price on shares of Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. KeyCorp set a $500.00 price target on Seagate Technology in a research note on Wednesday. Finally, The Goldman Sachs Group increased their target price on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $417.57.

Seagate Technology Stock Down 8.7%

Shares of NASDAQ STX opened at $407.69 on Thursday. The business has a 50-day simple moving average of $304.66 and a two-hundred day simple moving average of $238.42. The company has a quick ratio of 0.62, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $457.84. The company has a market cap of $87.07 billion, a P/E ratio of 46.12, a P/E/G ratio of 1.06 and a beta of 1.60.

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

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $299.31, for a total transaction of $422,625.72. Following the completion of the sale, the executive vice president directly owned 13,693 shares in the company, valued at approximately $4,098,451.83. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the sale, the chief financial officer directly owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This represents a 48.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 124,902 shares of company stock valued at $34,819,987. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of Seagate Technology by 11.2% in the fourth quarter. Sigma Planning Corp now owns 3,455 shares of the data storage provider’s stock valued at $951,000 after purchasing an additional 347 shares during the period. Citizens Financial Group Inc. RI lifted its stake in Seagate Technology by 60.0% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,279 shares of the data storage provider’s stock valued at $1,178,000 after buying an additional 1,605 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Seagate Technology by 5.0% in the fourth quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider’s stock valued at $51,510,000 after buying an additional 8,991 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Seagate Technology by 2.7% during the fourth quarter. US Bancorp DE now owns 40,153 shares of the data storage provider’s stock worth $11,058,000 after purchasing an additional 1,073 shares during the period. Finally, Interchange Capital Partners LLC purchased a new position in Seagate Technology during the fourth quarter worth about $235,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate topped EPS and revenue expectations and issued stronger Q3 EPS guidance, which is the primary fundamental catalyst for the rally. Seagate Q2 Highlights
• Positive Sentiment: “Sold out through 2026” demand commentary — Management said AI-driven data-center demand has Seagate effectively sold out, supporting revenue visibility and pricing power for nearline HDD capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Earnings-estimate momentum — Analysts have been raising earnings estimates for STX, supporting further upside expectations. Earnings Estimates Rising for Seagate (STX)
• Positive Sentiment: Multiple price-target/rating upgrades — Several brokers (Argus, Citigroup, Evercore, Robert W. Baird, Cantor, etc.) raised targets and/or upgraded ratings after the print, amplifying momentum and institutional flows. Argus Adjusts Price Target on Seagate
• Neutral Sentiment: Dividend maintained — Company declared a quarterly dividend (modest yield ~0.7%); shareholder-friendly but not a primary driver of the move.
• Neutral Sentiment: Mixed analyst views remain — while many houses hiked targets, a subset of major banks still show more conservative targets, indicating differing views on how sustainable the rally and valuations are. Analyst Rating Coverage
• Negative Sentiment: Valuation/overbought warnings — Some commentary flags STX as potentially overbought with premium valuations after the run, which could invite profit-taking or a pullback. Seagate Suffers From AI Success
• Negative Sentiment: Insider sale — An EVP recently sold a small block of shares; while small relative to market cap, insider selling can be read negatively by some investors. 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.