Seagate Technology (NASDAQ:STX) Stock Price Up 9.1% on Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded up 9.1% during mid-day trading on Wednesday after Sanford C. Bernstein raised their price target on the stock from $500.00 to $620.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $427.41 and last traded at $427.3480. 1,579,650 shares traded hands during trading, a decline of 62% from the average session volume of 4,144,642 shares. The stock had previously closed at $391.76.

A number of other research firms also recently weighed in on STX. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 17th. Evercore raised their price objective on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Morgan Stanley lifted their target price on shares of Seagate Technology from $337.00 to $372.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Argus upped their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, China Renaissance increased their price target on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $461.00.

Insider Activity at Seagate Technology

In other news, EVP James Ci Lee sold 673 shares of the business’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the sale, the executive vice president owned 257 shares in the company, valued at approximately $89,654.45. The trade was a 72.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 113,635 shares of company stock valued at $44,430,443. Insiders own 0.79% of the company’s stock.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Sanford C. Bernstein raised its price target sharply to $620 and kept an Outperform rating, highlighting confidence in Seagate’s long-term demand and framing recent weakness as a buying opportunity. Bernstein $620 Target
• Positive Sentiment: JPMorgan initiated coverage with an Overweight (market-available reports indicate an upbeat stance), adding institutional analyst support that can lift sentiment and flows into the stock. JPMorgan Initiates Coverage
• Positive Sentiment: Recent quarterly results beat estimates (EPS and revenue) and management set solid next-quarter EPS guidance, which underpins the rally and the bullish analyst takes. Earnings & Analysis
• Neutral Sentiment: Several bullish commentaries argue the recent pullback is a buying opportunity; these are outlook/opinion pieces that can influence retail sentiment but are not new fundamentals. Opportunity Thesis
• Neutral Sentiment: MarketWatch and other outlets note Seagate outperformed peers on a strong trading day — useful for momentum traders but more descriptive than catalytic. Trading Day Report
• Negative Sentiment: Zacks downgraded STX from “strong-buy” to “hold,” which could temper momentum from recent upgrades and make some investors cautious. Zacks Downgrade
• Negative Sentiment: Analysts and commentaries flagged valuation concerns after the run-up — several pieces argue the stock is pricey versus the story, which raises risk for profit-taking. Valuation Skepticism
• Negative Sentiment: Sector-wide volatility—driven by reports of Nvidia design shifts and algorithm/quant trading (TurboQuant) that hit memory/storage names—adds risk of short-term pullbacks independent of Seagate’s fundamentals. Sector Volatility

Institutional Trading of Seagate Technology

Several hedge funds have recently modified their holdings of the company. WCM Investment Management LLC acquired a new position in Seagate Technology during the 3rd quarter worth approximately $1,187,621,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after purchasing an additional 1,883,769 shares in the last quarter. Norges Bank bought a new stake in shares of Seagate Technology in the fourth quarter worth $498,363,000. Finally, Soroban Capital Partners LP boosted its holdings in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 8.0%

The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The business’s 50-day moving average is $401.01 and its two-hundred day moving average is $311.55. The firm has a market cap of $92.27 billion, a P/E ratio of 47.86, a P/E/G ratio of 0.87 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last issued its quarterly 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 firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 33.48%.

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.