Seagate Technology (NASDAQ:STX) Price Target Raised to $385.00 at The Goldman Sachs Group

Seagate Technology (NASDAQ:STX) had its price target raised by The Goldman Sachs Group from $310.00 to $385.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

A number of other equities analysts have also recently weighed in on STX. UBS Group upped their price target on shares of Seagate Technology from $335.00 to $385.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen upped their target price on shares of Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday. Sanford C. Bernstein lifted their price target on shares of Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Barclays boosted their price target on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citigroup raised their price objective on Seagate Technology from $320.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $392.35.

Seagate Technology Trading Up 19.1%

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

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 462.62% and a net margin of 19.59%.Seagate Technology’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s payout ratio is currently 38.00%.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 1,412 shares of Seagate Technology stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $299.31, for a total value of $422,625.72. Following the completion of the sale, the executive vice president directly owned 13,693 shares of the company’s stock, valued at approximately $4,098,451.83. The trade was a 9.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the completion of the transaction, the director owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,479 shares of company stock valued at $34,921,586 in the last 90 days. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC grew its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the period. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology during the 4th quarter worth about $28,000. Avion Wealth boosted its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Seagate Technology in the fourth quarter valued at approximately $37,000. Finally, First Horizon Corp acquired a new position in Seagate Technology during the third quarter worth approximately $33,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

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.