Evercore Boosts Seagate Technology (NASDAQ:STX) Price Target to $550.00

Seagate Technology (NASDAQ:STX) had its price target hoisted by equities researchers at Evercore from $450.00 to $550.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Evercore’s price target indicates a potential upside of 9.83% from the company’s previous close.

STX has been the subject of a number of other reports. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $370.00 to $500.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Benchmark upped their price objective on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. BNP Paribas Exane upped their price objective on shares of Seagate Technology from $430.00 to $530.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, Bank of America upped their price objective on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $473.92.

Seagate Technology Trading Up 0.9%

NASDAQ STX opened at $500.77 on Wednesday. Seagate Technology has a twelve month low of $67.63 and a twelve month high of $517.18. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock has a market cap of $109.20 billion, a price-to-earnings ratio of 56.65, a PEG ratio of 1.08 and a beta of 1.61. The firm’s 50 day moving average price is $410.33 and its two-hundred day moving average price is $321.22.

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

Insider Buying and Selling at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This trade represents a 72.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,635 shares of company stock valued at $47,133,843 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its stake in Seagate Technology by 97.9% during the fourth quarter. Hsbc Holdings PLC now owns 172,331 shares of the data storage provider’s stock worth $47,579,000 after buying an additional 85,246 shares during the last quarter. Stance Capital LLC acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $2,288,000. World Investment Advisors boosted its holdings in shares of Seagate Technology by 1.9% in the 4th quarter. World Investment Advisors now owns 11,832 shares of the data storage provider’s stock worth $3,258,000 after acquiring an additional 226 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Seagate Technology by 18.8% in the 4th quarter. Corient Private Wealth LLC now owns 35,378 shares of the data storage provider’s stock worth $9,745,000 after acquiring an additional 5,590 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in shares of Seagate Technology by 8.6% in the 4th quarter. Pure Financial Advisors LLC now owns 1,201 shares of the data storage provider’s stock worth $331,000 after acquiring an additional 95 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Rising HDD pricing — AI and hyperscaler demand are pushing HDD prices and improving margins, which analysts and market commentators say makes Seagate a top hardware buy. This is a primary driver of the stock’s recent gains. Hard Disk Drive Prices Are Rising. Why That Makes Seagate Stock a Top Buy.
• Positive Sentiment: Analyst upgrades and higher price targets — Evercore raised its target to $550 and Bernstein to $620 (both maintain outperform ratings); JPMorgan and others have also turned bullish, reinforcing buy-side momentum and supporting investor confidence. Evercore target raise Bernstein target raise
• Positive Sentiment: AI/data-center tailwinds — Seagate is highlighted as a beneficiary of NVIDIA-led data-center expansion; rising capex at hyperscalers supports multi-year HDD demand forecasts. These 4 Stocks Are Quietly Riding NVIDIA’s Data Center Boom Higher
• Neutral Sentiment: Lyve Cloud sale to Wasabi — Seagate sold its Lyve Cloud business to Wasabi and received equity, which reduces Seagate’s cloud operating exposure while giving upside via an ownership stake in a pure-play cloud storage vendor. Financial details were not disclosed, so near-term cash impact is unclear. Wasabi Technologies Acquires Seagate’s Lyve Cloud Business
• Neutral Sentiment: Momentum and valuation attention — Coverage pieces note strong multi-period share gains (30/90-day momentum), which attracts flows but also raises valuation scrutiny as the stock moves quickly. A Look At Seagate (STX) Valuation After Strong Multi Period Share Price Gains
• Negative Sentiment: Balance-sheet and valuation risks — Seagate carries high leverage (debt-to-equity around 7.6) and a rich P/E (~53). If HDD pricing or AI capex softens, earnings could be more volatile and the premium multiple may unwind; watch guidance and free-cash-flow conversion.

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.