Wedbush Raises Seagate Technology (NASDAQ:STX) Price Target to $260.00

Seagate Technology (NASDAQ:STX) had its price target hoisted by equities research analysts at Wedbush from $175.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Wedbush’s price objective points to a potential upside of 15.35% from the stock’s previous close.

Several other research firms also recently weighed in on STX. Citigroup upped their price target on Seagate Technology from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Sanford C. Bernstein initiated coverage on Seagate Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $250.00 price objective on the stock. UBS Group upped their price objective on Seagate Technology from $85.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Seagate Technology in a research report on Wednesday, October 8th. Finally, Robert W. Baird upped their price objective on Seagate Technology from $120.00 to $188.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.40.

Seagate Technology Stock Down 0.3%

Seagate Technology stock opened at $225.40 on Thursday. The company has a market capitalization of $48.00 billion, a P/E ratio of 33.29, a PEG ratio of 1.01 and a beta of 1.63. The stock’s 50 day moving average is $198.09 and its 200 day moving average is $145.03. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $264.83.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, equities analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Insider Activity

In other news, insider James Ci Lee sold 3,509 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider directly owned 1,288 shares of the company’s stock, valued at $199,305.12. This represents a 73.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ban Seng Teh sold 5,905 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the transaction, the executive vice president directly owned 6,147 shares in the company, valued at $952,785. The trade was a 49.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,620 shares of company stock worth $14,464,056. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $27,000. Rakuten Securities Inc. increased its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new stake in Seagate Technology in the 2nd quarter worth $29,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology in the 1st quarter worth $31,000. Finally, Golden State Wealth Management LLC increased its stake in Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after buying an additional 440 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.