Bank of America Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price upped by equities researchers at Bank of America from $255.00 to $275.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Bank of America‘s price target points to a potential upside of 2.49% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Seagate Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Cantor Fitzgerald upped their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Wedbush upped their price objective on shares of Seagate Technology from $175.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Robert W. Baird upped their price objective on shares of Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup upped their target price on shares of Seagate Technology from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.24.

Seagate Technology Trading Up 1.0%

STX stock opened at $268.33 on Wednesday. The firm’s 50-day moving average price is $211.84 and its two-hundred day moving average price is $155.61. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $274.48. The stock has a market capitalization of $57.15 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 1.17 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.21. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Equities analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total value of $3,004,942.60. Following the transaction, the executive vice president directly owned 9,843 shares in the company, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer directly owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 45,090 shares of company stock valued at $9,759,648 over the last three months. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently bought and sold shares of the stock. Harbor Asset Planning Inc. purchased a new position in Seagate Technology during the second quarter valued at $27,000. Rakuten Securities Inc. lifted its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. MTM Investment Management LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology in the 1st quarter worth about $31,000. Finally, First Horizon Corp bought a new stake in shares of Seagate Technology in the 3rd quarter worth about $33,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Seagate Technology

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.