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

Seagate Technology (NASDAQ:STX) had its target price hoisted by equities researchers at TD Cowen from $175.00 to $270.00 in a report released on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the data storage provider’s stock. TD Cowen’s price target would suggest a potential upside of 0.62% from the company’s current price.

Several other research analysts have also recently weighed in on the company. UBS Group upped their price objective on Seagate Technology from $155.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Seagate Technology in a research note on Wednesday, October 8th. Bank of America raised their price objective on Seagate Technology from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, Rosenblatt Securities lifted their target price on Seagate Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 29th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.24.

Seagate Technology Trading Up 1.0%

Seagate Technology stock opened at $268.33 on Wednesday. The firm has a market capitalization of $57.15 billion, a P/E ratio of 34.45, a PEG ratio of 1.17 and a beta of 1.63. The business has a 50-day moving average of $211.84 and a 200-day moving average of $155.61. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $274.48.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The firm’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. Research analysts anticipate that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 3,732 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $193.30, for a total value of $721,395.60. Following the completion of the transaction, the executive vice president directly owned 4,172 shares in the company, valued at approximately $806,447.60. This represents a 47.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 9,843 shares of the company’s stock, valued at $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 45,090 shares of company stock worth $9,759,648 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Seagate Technology by 8.5% during the 1st quarter. GAMMA Investing LLC now owns 3,027 shares of the data storage provider’s stock worth $257,000 after purchasing an additional 237 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after acquiring an additional 440 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Seagate Technology by 18.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,823 shares of the data storage provider’s stock worth $2,023,000 after acquiring an additional 3,673 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Seagate Technology by 350.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 50,416 shares of the data storage provider’s stock worth $4,262,000 after acquiring an additional 39,231 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Seagate Technology by 3.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 496,784 shares of the data storage provider’s stock worth $42,202,000 after acquiring an additional 17,171 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.