Citigroup Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price hoisted by equities research analysts at Citigroup from $250.00 to $275.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Citigroup’s price objective would indicate a potential upside of 2.49% from the company’s current price.

Several other analysts have also issued reports on the stock. UBS Group lowered their price target on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday. Sanford C. Bernstein boosted their price target on shares of Seagate Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Benchmark boosted their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $175.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Wedbush upped their target price 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. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.24.

Seagate Technology Stock Performance

Shares of STX stock opened at $268.33 on Wednesday. The firm has a market cap of $57.15 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 1.17 and a beta of 1.63. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $274.48. The firm’s 50-day simple moving average is $211.84 and its two-hundred day simple moving average is $155.61.

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

Insider Activity at Seagate Technology

In other news, EVP John Christopher Morris sold 377 shares of Seagate Technology stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the sale, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ban Seng Teh sold 1,410 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $225.56, for a total transaction of $318,039.60. Following the completion of the transaction, the executive vice president directly owned 18,041 shares in the company, valued at approximately $4,069,327.96. The trade was a 7.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,090 shares of company stock valued at $9,759,648. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of STX. JPMorgan Chase & Co. increased its position in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock worth $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. Norges Bank bought a new stake in Seagate Technology in the second quarter worth $197,027,000. Boston Partners bought a new stake in Seagate Technology in the second quarter worth $193,500,000. Soroban Capital Partners LP increased its position in Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Seagate Technology by 3,339.4% during the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after acquiring an additional 906,840 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

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.