UBS Group Lowers Seagate Technology (NASDAQ:STX) Price Target to $230.00

Seagate Technology (NASDAQ:STX) had its price target lowered by research analysts at UBS Group from $235.00 to $230.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the data storage provider’s stock. UBS Group’s price target would suggest a potential downside of 14.28% from the stock’s current price.

Several other brokerages also recently weighed in on STX. Robert W. Baird increased their price target on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Cantor Fitzgerald increased their price objective on Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Mizuho increased their price objective on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Bank of America increased their price objective on Seagate Technology from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Benchmark raised their price target on Seagate Technology from $165.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.24.

Seagate Technology Trading Up 1.0%

STX stock opened at $268.33 on Wednesday. The company 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. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $274.48. The business has a 50 day simple moving average of $211.84 and a 200-day simple moving average of $155.61.

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

Insider Buying and Selling

In related news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction 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 sale, the director owned 352 shares of the company’s stock, valued at $52,976. This trade represents a 87.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total value of $4,998,000.00. Following the completion of the sale, the chief executive officer owned 485,668 shares of the company’s stock, valued at $121,368,433.20. This trade represents a 3.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,090 shares of company stock worth $9,759,648 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Sivia Capital Partners LLC raised its position in shares of Seagate Technology by 2.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after purchasing an additional 47 shares in the last quarter. Magnus Financial Group LLC raised its position in shares of Seagate Technology by 2.9% in the 3rd quarter. Magnus Financial Group LLC now owns 1,755 shares of the data storage provider’s stock valued at $414,000 after purchasing an additional 49 shares in the last quarter. Lee Johnson Capital Management LLC raised its position in shares of Seagate Technology by 0.9% in the 3rd quarter. Lee Johnson Capital Management LLC now owns 5,546 shares of the data storage provider’s stock valued at $1,309,000 after purchasing an additional 50 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of Seagate Technology by 3.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 1,446 shares of the data storage provider’s stock valued at $341,000 after acquiring an additional 53 shares during the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in shares of Seagate Technology by 1.7% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 3,510 shares of the data storage provider’s stock valued at $829,000 after acquiring an additional 57 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

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.