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

Seagate Technology (NASDAQ:STX) had its target price boosted by investment analysts at Wedbush from $260.00 to $290.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the data storage provider’s stock. Wedbush’s target price points to a potential upside of 8.08% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Barclays lifted their price objective on Seagate Technology from $200.00 to $240.00 and gave the company an “equal weight” rating in a report on Wednesday. Benchmark lifted their price target on shares of Seagate Technology from $250.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho lifted their price target on shares of Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, TD Cowen lifted their target price on shares of Seagate Technology from $175.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday. 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 issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $255.24.

Seagate Technology Stock Up 1.0%

Shares of STX opened at $268.33 on Wednesday. The stock 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 12 month low of $63.19 and a 12 month high of $274.48. The company has a 50-day moving average price of $211.84 and a two-hundred day moving average price of $155.61.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 28th. The data storage provider reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.21. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Seagate Technology has set its Q2 2026 guidance at 2.550-2.950 EPS. Equities research analysts expect that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 1,410 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 18,041 shares in the company, valued at $4,069,327.96. The trade was a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the sale, the chief executive officer owned 485,668 shares of the company’s stock, valued at approximately $121,368,433.20. The trade was a 3.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 45,090 shares of company stock worth $9,759,648. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. JPMorgan Chase & Co. increased its stake in shares of Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares during the last quarter. Norges Bank bought a new stake in Seagate Technology in the second quarter valued at approximately $197,027,000. Boston Partners bought a new stake in Seagate Technology in the second quarter valued at approximately $193,500,000. Soroban Capital Partners LP increased its position in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Seagate Technology by 3,339.4% in the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after buying an additional 906,840 shares in 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.