Argus Raises Seagate Technology (NASDAQ:STX) Price Target to $450.00

Seagate Technology (NASDAQ:STX) had its target price hoisted by research analysts at Argus from $300.00 to $450.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Argus’ price target suggests a potential upside of 10.38% from the stock’s previous close.

STX has been the topic of a number of other reports. Loop Capital boosted their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Evercore ISI lifted their target price on shares of Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday. KeyCorp set a $500.00 price target on shares of Seagate Technology in a research note on Wednesday. Rosenblatt Securities lifted their price objective on Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird upped their target price on Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $417.57.

Seagate Technology Stock Down 8.7%

Shares of NASDAQ:STX opened at $407.69 on Thursday. The stock’s 50-day moving average is $304.66 and its 200 day moving average is $238.42. The company has a market cap of $87.07 billion, a PE ratio of 46.12, a P/E/G ratio of 1.06 and a beta of 1.60. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.62. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $457.84.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter last year, the business posted $2.03 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Sell-side analysts anticipate that Seagate Technology will post 6.83 EPS for the current year.

Insider Activity at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of Seagate Technology stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the transaction, the chief financial officer owned 56,293 shares in the company, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,902 shares of company stock worth $34,819,987 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Asset Planning Inc. bought a new stake in Seagate Technology in the 2nd quarter worth about $27,000. Salomon & Ludwin LLC boosted its holdings in shares of 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 acquiring an additional 51 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. Armstrong Advisory Group Inc. purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Finally, Avion Wealth lifted its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Q2 beat and raised guidance — Seagate topped EPS and revenue expectations and issued stronger Q3 EPS guidance, which is the primary fundamental catalyst for the rally. Seagate Q2 Highlights
• Positive Sentiment: “Sold out through 2026” demand commentary — Management said AI-driven data-center demand has Seagate effectively sold out, supporting revenue visibility and pricing power for nearline HDD capacity. Seagate Sold Out Through 2026
• Positive Sentiment: Earnings-estimate momentum — Analysts have been raising earnings estimates for STX, supporting further upside expectations. Earnings Estimates Rising for Seagate (STX)
• Positive Sentiment: Multiple price-target/rating upgrades — Several brokers (Argus, Citigroup, Evercore, Robert W. Baird, Cantor, etc.) raised targets and/or upgraded ratings after the print, amplifying momentum and institutional flows. Argus Adjusts Price Target on Seagate
• Neutral Sentiment: Dividend maintained — Company declared a quarterly dividend (modest yield ~0.7%); shareholder-friendly but not a primary driver of the move.
• Neutral Sentiment: Mixed analyst views remain — while many houses hiked targets, a subset of major banks still show more conservative targets, indicating differing views on how sustainable the rally and valuations are. Analyst Rating Coverage
• Negative Sentiment: Valuation/overbought warnings — Some commentary flags STX as potentially overbought with premium valuations after the run, which could invite profit-taking or a pullback. Seagate Suffers From AI Success
• Negative Sentiment: Insider sale — An EVP recently sold a small block of shares; while small relative to market cap, insider selling can be read negatively by some investors. SEC Form 4

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.