Seagate Technology (NASDAQ:STX) Sets New 52-Week High After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price reached a new 52-week high during mid-day trading on Thursday after BNP Paribas Exane upgraded the stock from a neutral rating to an outperform rating. BNP Paribas Exane now has a $380.00 price target on the stock. Seagate Technology traded as high as $349.55 and last traded at $344.22, with a volume of 4701053 shares changing hands. The stock had previously closed at $325.99.

STX has been the subject of a number of other reports. TD Cowen increased their price objective on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Mizuho raised their target price on shares of Seagate Technology from $290.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Loop Capital lifted their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. The Goldman Sachs Group upped their target price on Seagate Technology from $280.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Rosenblatt Securities raised their price target on shares of Seagate Technology from $270.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.41.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the sale, the director owned 5,601 shares in the company, valued at $1,528,568.91. This trade represents a 11.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 1,412 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $299.31, for a total transaction of $422,625.72. Following the sale, the executive vice president directly owned 13,693 shares in the company, valued at approximately $4,098,451.83. This trade represents a 9.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 132,557 shares of company stock valued at $36,847,793 in the last ninety days. 0.79% of the stock is owned by corporate insiders.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Bank of America reiterated a Buy on STX and raised its target to $400, citing stronger visibility into revenue and margin growth and forecasting a robust fiscal Q2 driven by data‑center demand. Bank of America note / Proactive
• Positive Sentiment: Citigroup raised its price target to $385 and maintained a Buy rating, signaling analyst conviction that Seagate will capture AI/data‑center storage spending. Citigroup raise / Benzinga
• Positive Sentiment: BNP Paribas Exane upgraded STX from Neutral to Outperform with a $380 target — another upward revision that helped lift market sentiment. BNP Paribas upgrade / Finviz
• Positive Sentiment: Sector narrative: analysts and market pieces are shifting attention from GPUs to storage as AI workloads increase demand for both hot‑tier SSDs and large‑capacity HDDs — a structural tailwind for Seagate’s enterprise/data‑center business. Yahoo: Seagate rises after upgrade
• Neutral Sentiment: Rosenblatt and UBS raised targets (Rosenblatt to $370 buy; UBS raised its PT to $335 but kept a Neutral rating), reflecting higher earnings/valuation expectations while showing some variation in conviction. Rosenblatt/UBS / Benzinga
• Neutral Sentiment: Recent writeups looked at Seagate’s valuation after the rounds of upgrades and AI storage commentary — useful context for investors reassessing multiples amid faster revenue/margin visibility. Yahoo Finance valuation piece
• Negative Sentiment: Not all coverage is uniformly bullish: Zacks trimmed its rating from Strong‑Buy to Hold, introducing a countervailing view on near‑term upside and reminding investors some analysts see less immediate upside. Zacks downgrade TickerReport

Institutional Trading of Seagate Technology

Institutional investors have recently made changes to their positions in the stock. Harbor Asset Planning Inc. bought a new position in Seagate Technology in the second quarter worth about $27,000. Rakuten Securities Inc. increased its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. MTM Investment Management LLC purchased a new position in shares of Seagate Technology in the 2nd quarter worth $29,000. Finally, First Horizon Corp bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 5.6%

The stock’s fifty day simple moving average is $285.72 and its 200 day simple moving average is $227.19. The firm has a market capitalization of $73.51 billion, a PE ratio of 44.19, a PEG ratio of 1.28 and a beta of 1.60.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders 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. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. Seagate Technology’s payout ratio is 38.00%.

Seagate Technology Company Profile

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.