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

Seagate Technology (NASDAQ:STX) had its price objective boosted by Citigroup from $480.00 to $595.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the data storage provider’s stock.

A number of other research firms also recently weighed in on STX. Sanford C. Bernstein lifted their price objective on Seagate Technology from $500.00 to $620.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Barclays lifted their target price on shares of Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Argus lifted 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. Mizuho lifted their target price on shares of Seagate Technology from $475.00 to $565.00 and gave the company an “outperform” rating in a research note on Friday. Finally, KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $491.00.

Seagate Technology Stock Up 2.0%

NASDAQ STX opened at $513.28 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The stock’s 50 day moving average is $413.84 and its two-hundred day moving average is $326.56. The company has a market capitalization of $111.93 billion, a price-to-earnings ratio of 58.06, a PEG ratio of 1.09 and a beta of 1.61. Seagate Technology has a 1-year low of $71.29 and a 1-year high of $517.18.

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, beating analysts’ consensus estimates of $2.77 by $0.34. The company had revenue of $2.83 billion for 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%.The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

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

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the transaction, the director owned 223 shares in the company, valued at $99,908.46. The trade was a 80.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Ci Lee sold 673 shares of the business’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 completion of the transaction, the executive vice president owned 257 shares of the company’s stock, valued at $89,654.45. This trade represents a 72.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,223 shares of company stock worth $46,711,217 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Seagate Technology during the 2nd quarter valued at $262,000. Cerity Partners LLC raised its position in shares of Seagate Technology by 25.8% during the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock valued at $5,294,000 after acquiring an additional 7,517 shares during the last quarter. Sei Investments Co. raised its position in shares of Seagate Technology by 64.8% during the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock valued at $1,233,000 after acquiring an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Seagate Technology by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock valued at $18,458,000 after acquiring an additional 462 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Citi raised its price target sharply and reiterated a Buy, signaling conviction that AI-driven data growth will support storage pricing and Seagate’s revenue mix. Citi raises Seagate target to $595
• Positive Sentiment: Citi’s upgrade was broadly reported and cited as a driver for higher trading today, as analysts point to AI data demand supercharging storage pricing for Seagate and peers. Citi Raises Seagate and Western Digital Targets
• Positive Sentiment: Multiple outlets reported recent analyst price‑target raises (to $485 and $565 in separate notes), reinforcing a positive analyst sentiment trend that supports the rally. Price Target Raised to $485
• Positive Sentiment: Roundhill’s new DRAM ETF story highlights surging AI memory demand and lists Seagate as a beneficiary of the broader memory/storage supercycle, a thematic tailwind for STX. This New ETF Aims to Capitalize on Surging AI Memory Chip Demand
• Positive Sentiment: Seagate agreed to sell its Lyve Cloud business to Wasabi and will take a Wasabi stake—market sees this as a strategic pivot to core mass‑capacity HDDs and HAMR/Mozaic platforms, simplifying operations and capital allocation. Seagate Sells Lyve Cloud To Wasabi
• Neutral Sentiment: An earnings preview lays out what to watch for in Seagate’s next report (demand trends, pricing, guidance), keeping investors focused on upcoming results as a potential catalyst. Here’s what to expect from Seagate’s next earnings report
• Negative Sentiment: Comparative coverage argues Western Digital (WDC) may be outperforming Seagate in the AI storage boom — highlighting valuation and capital returns where WDC can look more attractive, a competitive risk for STX sentiment. Seagate vs. Western Digital
• Negative Sentiment: Additional analyst pieces reiterate that Western Digital’s metrics (valuation, returns) slightly edge out Seagate, which could temper investor enthusiasm and limit upside. Seagate vs Western Digital (Zacks)

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.