Seagate Technology (NASDAQ:STX) Price Target Raised to $500.00 at TD Cowen

Seagate Technology (NASDAQ:STX) had its price target lifted by TD Cowen from $340.00 to $500.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the data storage provider’s stock.

A number of other research analysts have also recently commented on STX. Exane BNP Paribas upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. China Renaissance upped their price objective on shares of Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Zacks Research cut shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Mizuho boosted their price target on shares of Seagate Technology from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Rosenblatt Securities raised their price objective on Seagate Technology from $270.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Two equities 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. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $392.35.

Seagate Technology Stock Up 19.1%

NASDAQ STX opened at $442.93 on Wednesday. The stock’s 50-day simple moving average is $297.13 and its two-hundred day simple moving average is $235.15. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $449.50. The company has a market capitalization of $94.59 billion, a price-to-earnings ratio of 56.86, a PEG ratio of 1.08 and a beta of 1.60.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The firm 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 company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, equities analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is currently 38.00%.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 1,412 shares of the firm’s stock in a transaction dated 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. This trade represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the transaction, the director owned 5,601 shares in the company, valued at $1,528,568.91. This represents a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 125,479 shares of company stock valued at $34,921,586 over the last quarter. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vision Financial Markets LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at about $173,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Seagate Technology during the third quarter valued at approximately $1,864,000. Nordea Investment Management AB grew its position in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares during the period. Central Asset Investments & Management Holdings HK Ltd increased its holdings in Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock valued at $2,704,000 after buying an additional 12,178 shares during the last quarter. Finally, Channing Capital Management LLC bought a new position in Seagate Technology in the second quarter worth approximately $4,542,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting 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.