Robert W. Baird Raises Seagate Technology (NASDAQ:STX) Price Target to $270.00

Seagate Technology (NASDAQ:STX) had its price target raised by stock analysts at Robert W. Baird from $188.00 to $270.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the data storage provider’s stock. Robert W. Baird’s target price suggests a potential upside of 0.62% from the stock’s current price.

Several other research analysts also recently weighed in on STX. Barclays boosted their target price on shares of Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup lifted their price target on Seagate Technology from $215.00 to $250.00 and gave the company a “buy” rating in a report on Monday, October 13th. Mizuho increased their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Evercore ISI increased their target price on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Finally, Wells Fargo & Company increased their target price on shares of Seagate Technology from $160.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday, October 13th. One research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $255.24.

Seagate Technology Stock Up 1.0%

NASDAQ:STX opened at $268.33 on Wednesday. The company has a market capitalization of $57.15 billion, a PE ratio of 34.45, a price-to-earnings-growth 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 stock has a fifty day simple moving average of $211.84 and a 200-day simple moving average of $155.61.

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

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the transaction, the director directly owned 352 shares in the company, valued at approximately $52,976. This represents a 87.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 owned 9,843 shares of the company’s stock, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 45,090 shares of company stock valued at $9,759,648. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently added to or reduced their stakes in the company. 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 buying an additional 2,161,191 shares during the period. Norges Bank acquired a new stake in Seagate Technology in the second quarter worth $197,027,000. Boston Partners acquired 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 buying an additional 1,327,197 shares during the period. Finally, Wellington Management Group LLP increased its position in Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock worth $79,343,000 after buying an additional 906,840 shares during the period. 92.87% of the stock is currently owned by 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.