Citigroup Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target hoisted by Citigroup from $385.00 to $460.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Several other equities analysts have also commented on the stock. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho raised their price target on shares of Seagate Technology from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on Seagate Technology from $310.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price objective on Seagate Technology from $370.00 to $425.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, UBS Group lifted their target price on Seagate Technology from $335.00 to $385.00 and gave the company a “neutral” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $411.04.

Seagate Technology Price Performance

Shares of STX opened at $446.57 on Thursday. The firm has a market cap of $95.37 billion, a price-to-earnings ratio of 50.52, a PEG ratio of 1.29 and a beta of 1.60. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $457.84. The stock has a 50 day moving average of $301.25 and a 200-day moving average of $236.62. The company has a current ratio of 1.12, a quick ratio of 0.62 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.Seagate Technology’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, analysts forecast that Seagate Technology will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 1,412 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $299.31, for a total transaction 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 $4,098,451.83. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the sale, the executive vice president owned 257 shares of the company’s stock, valued at $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 124,902 shares of company stock worth $34,819,987 in the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently modified their holdings of the stock. Sovereign Financial Group Inc. raised its position in shares of Seagate Technology by 3.2% during the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock worth $293,000 after purchasing an additional 33 shares during the period. Pallas Capital Advisors LLC increased its stake in Seagate Technology by 0.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock worth $1,500,000 after purchasing an additional 33 shares in the last quarter. West Family Investments Inc. raised its holdings in Seagate Technology by 2.7% during the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after buying an additional 37 shares during the period. Capital Investment Advisors LLC lifted its stake in Seagate Technology by 1.9% during the fourth quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock valued at $537,000 after buying an additional 37 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in Seagate Technology by 0.7% during the fourth quarter. Diversify Advisory Services LLC now owns 5,880 shares of the data storage provider’s stock valued at $1,619,000 after buying an additional 43 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate reported $3.11 EPS and $2.83B revenue (both above consensus), delivered record margins and issued Q3 EPS guidance of $3.20–$3.60 (above Street estimates); this fundamental beat and stronger outlook are the main catalysts lifting the stock. Seagate Q2 Highlights
• Positive Sentiment: Demand commentary — Management said Seagate is effectively sold out through 2026 as AI-led data-center demand ramps, supporting visibility into revenue and pricing power for nearline capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Large analyst target upgrades — Multiple firms raised price targets and ratings after the print (examples: Robert W. Baird to $505, Cantor/Rosenblatt/TD Cowen to $500+, Evercore to $450 and Citigroup to $460), which likely amplified buying from momentum and institutional flows. Evercore Price Target Update
• Neutral Sentiment: Mixed analyst positioning — Some houses raised targets but a few major banks still have neutral/discounted targets relative to the rally (Goldman/UBS/Barclays still below the intraday highs), signaling differing views on sustainable valuation. Analyst Rating Coverage
• Neutral Sentiment: Dividend maintained — Seagate declared a quarterly dividend (modest yield ~0.7%), a shareholder-friendly item but unlikely to be a primary driver of the share move.
• Negative Sentiment: Insider sale — EVP James Ci Lee sold 673 shares recently, reducing his holdings materially; insider sales can be interpreted negatively by some investors even though the sale size is small relative to the market cap. SEC Form 4

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.