Seagate Technology (NASDAQ:STX) Given New $620.00 Price Target at Sanford C. Bernstein

Seagate Technology (NASDAQ:STX) had its price objective increased by Sanford C. Bernstein from $500.00 to $620.00 in a report issued on Thursday morning,MarketScreener reports. They currently have an outperform rating on the data storage provider’s stock.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Seagate Technology in a research report on Monday, March 30th. They set an “overweight” rating and a $525.00 target price on the stock. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research report on Wednesday, January 28th. UBS Group upped their target price on shares of Seagate Technology from $385.00 to $440.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Benchmark upped their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Finally, Robert W. Baird upped their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $473.92.

Seagate Technology Trading Up 0.9%

Shares of Seagate Technology stock opened at $500.77 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The company’s 50-day simple moving average is $410.33 and its 200-day simple moving average is $321.22. Seagate Technology has a 52-week low of $67.63 and a 52-week high of $517.18. The firm has a market cap of $109.20 billion, a price-to-earnings ratio of 56.65, a price-to-earnings-growth ratio of 1.08 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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 company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology’s dividend payout ratio is 33.48%.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $420.73, for a total value of $8,414,600.00. Following the sale, the chief executive officer owned 355,591 shares of the company’s stock, valued at $149,607,801.43. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the sale, the executive vice president directly owned 257 shares in the company, valued at $89,654.45. This trade represents a 72.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 113,635 shares of company stock valued at $47,133,843. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently bought and sold shares of the company. National Pension Service raised its stake in Seagate Technology by 28.0% during the third quarter. National Pension Service now owns 250,121 shares of the data storage provider’s stock worth $59,044,000 after purchasing an additional 54,722 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in Seagate Technology during the third quarter worth approximately $1,864,000. Keystone Investors PTE Ltd. raised its stake in Seagate Technology by 55.7% during the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider’s stock worth $11,879,000 after purchasing an additional 18,000 shares during the period. Estate Counselors LLC purchased a new position in Seagate Technology during the third quarter worth approximately $2,557,000. Finally, Vision Financial Markets LLC raised its stake in Seagate Technology by 341.7% during the third quarter. Vision Financial Markets LLC now owns 5,300 shares of the data storage provider’s stock worth $1,251,000 after purchasing an additional 4,100 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Headlines 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.