Seagate Technology (NASDAQ:STX) Given New $450.00 Price Target at Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price objective raised by Wells Fargo & Company from $360.00 to $450.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the data storage provider’s stock.

Several other equities research analysts have also issued reports on STX. Citigroup lifted their target price on shares of Seagate Technology from $320.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Susquehanna upgraded shares of Seagate Technology from a “negative” rating to a “neutral” rating and raised their price objective for the company from $150.00 to $280.00 in a research report on Friday, January 16th. Evercore ISI upped their target price on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Robert W. Baird lifted their price target on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $392.35.

Seagate Technology Trading Up 19.1%

STX stock opened at $442.93 on Wednesday. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $449.50. The firm has a market capitalization of $94.59 billion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. The firm has a 50 day moving average of $297.13 and a 200-day moving average of $235.15.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 462.62% and a net margin of 19.59%.The firm’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Sell-side analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be issued a dividend of $0.74 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s dividend payout ratio is currently 38.00%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the sale, the chief executive officer owned 429,895 shares in the company, valued at approximately $122,760,816.20. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay L. Geldmacher sold 1,250 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $269.10, for a total value of $336,375.00. Following the sale, the director directly owned 1,148 shares of the company’s stock, valued at approximately $308,926.80. This trade represents a 52.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 125,479 shares of company stock worth $34,921,586. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology during the second quarter worth about $27,000. Salomon & Ludwin LLC raised its position in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the last quarter. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology in the 4th quarter worth approximately $28,000. Finally, Avion Wealth grew its position in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Q2 results beat expectations — EPS $3.11 and revenue $2.83B, with record gross and operating margins; management raised Q3 EPS and revenue guidance, underpinning the rally. Seagate Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Management says demand is surging on AI-related storage needs and the company is effectively “sold out” through 2026, implying strong near-term revenue visibility and pricing power. Seagate Is Sold Out Through 2026, CEO Says
• Positive Sentiment: Multiple analysts bumped price targets and issued upgrades following the results; several shops (Cantor, Rosenblatt, TD Cowen) raised targets to $500, adding upward analyst momentum. Analyst Coverage & Price Target Moves
• Positive Sentiment: Market reaction: STX hit record highs and topped the S&P 500 performance amid the earnings/guidance news and analyst praise. Seagate surge tops S&P 500
• Neutral Sentiment: Seagate declared a $0.74 quarterly dividend (record March 25 / pay April 8) — modest yield that supports income-minded holders but is not a major valuation driver.
• Neutral Sentiment: Some firms raised targets but maintained neutral/equal-weight ratings (Wells Fargo, Barclays, UBS), reflecting a mix of enthusiasm for demand and caution about near-term valuation. Analyst Updates
• Negative Sentiment: Not all price targets moved above the current price — a few post-earnings targets (e.g., GS/UBS at ~385) remain below the market, highlighting divergent analyst views and potential downside if sentiment cools. Analyst Target Notes
• Negative Sentiment: Some coverage notes short-term “cooling off”/profit-taking after the sharp run-up, so momentum-dependent traders face volatility risk even with strong fundamentals. Seagate cools off despite strong Q2

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.