Seagate Technology (NASDAQ:STX) Price Target Raised to $400.00 at Bank of America

Seagate Technology (NASDAQ:STX) had its price objective upped by Bank of America from $320.00 to $400.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

A number of other equities research analysts have also issued reports on STX. Barclays boosted their target price on Seagate Technology from $240.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Evercore ISI upped their price objective on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Morgan Stanley lifted their target price on shares of Seagate Technology from $270.00 to $337.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Finally, Robert W. Baird boosted their price target on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $335.61.

Seagate Technology Stock Performance

Seagate Technology stock opened at $325.99 on Tuesday. The firm has a market cap of $69.62 billion, a price-to-earnings ratio of 41.85, a price-to-earnings-growth ratio of 1.28 and a beta of 1.60. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $336.17. The firm’s 50 day moving average price is $284.51 and its two-hundred day moving average price is $226.36.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were issued a dividend of $0.74 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, December 24th. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of Seagate Technology stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the sale, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This trade represents a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sovereign Financial Group Inc. grew its stake in shares of Seagate Technology by 3.2% in the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock valued at $293,000 after buying an additional 33 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in Seagate Technology by 0.6% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock valued at $1,500,000 after acquiring an additional 33 shares during the last quarter. West Family Investments Inc. grew its position in Seagate Technology by 2.7% in the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after acquiring an additional 37 shares in the last quarter. Capital Investment Advisors LLC grew its position in Seagate Technology by 1.9% in the fourth quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock worth $537,000 after acquiring an additional 37 shares in the last quarter. Finally, United Community Bank increased its stake in shares of Seagate Technology by 35.2% during the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Seagate Technology

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Bank of America reiterated its Buy rating, raised its price target to $400 (from $320), and cited stronger visibility into Q2 revenue and margin growth driven by continued data-center demand and seasonal improvement in consumer/VIA segments. Seagate Technology poised for strong Q2 on data center demand, Bank of America says
• Positive Sentiment: Citigroup raised its target to $385 (from $320) and set a Buy rating — implying roughly mid-to-high teens upside — reflecting bullish analyst views on growth ahead. Benzinga
• Positive Sentiment: Rosenblatt lifted its target to $370 (from $270) and maintains a Buy rating, another vote of confidence supporting near-term upside expectations. Benzinga
• Neutral Sentiment: UBS raised its target to $335 (from $230) but kept a Neutral rating — the new target sits close to the current price, suggesting limited immediate upside from UBS despite the higher valuation. Benzinga
• Neutral Sentiment: A Yahoo Finance piece examines whether Seagate’s push into AI edge storage meaningfully reshapes its competitive moat — a strategic-read that could influence longer-term investor expectations but is uncertain near term. Does Seagate (STX) Leaning Into AI Edge Storage Reframe Its Core Competitive Moat?

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.