Seagate Technology (NASDAQ:STX) Hits New 12-Month High After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price reached a new 52-week high during mid-day trading on Monday after Bank of America raised their price target on the stock from $450.00 to $605.00. Bank of America currently has a buy rating on the stock. Seagate Technology traded as high as $554.99 and last traded at $540.6920, with a volume of 59868 shares traded. The stock had previously closed at $547.75.

A number of other analysts also recently issued reports on STX. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Seagate Technology in a research report on Friday, March 27th. Loop Capital raised their target price on Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Mizuho raised their target price on Seagate Technology from $475.00 to $565.00 and gave the stock an “outperform” rating in a research report on Friday, April 10th. Finally, TD Cowen raised their target price on Seagate Technology from $340.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $502.67.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the completion of the transaction, the chief executive officer directly owned 375,591 shares in the company, valued at approximately $152,779,151.07. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of Seagate Technology stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the transaction, the executive vice president owned 3,092 shares of the company’s stock, valued at approximately $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 112,223 shares of company stock valued at $46,711,217 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Bank of America raised its price target on STX to $605 (from $450) and boosted fiscal‑2026 revenue and EPS forecasts, citing stronger confidence in earnings growth and sustained demand—this upgrade increases analyst support ahead of Seagate’s upcoming update. Seagate Technology price target boosted by Bank of America ahead of quarterly report
• Positive Sentiment: Seagate was named one of five stocks positioned to benefit from the AI data center buildout, with the analyst citing multi‑year order backlogs and rising analyst revisions—this reinforces structural demand for storage capacity as AI models and data footprints expand. 5 Stocks Positioned to Win the AI Data Center Buildout (STX)
• Positive Sentiment: Sector commentary (FXEmpire) highlights continued upside for data‑center component names tied to AI, noting STX among names that could benefit if AI capex keeps accelerating—another supportive thematic note for storage demand. SNDK, WDC and STX Forecasts – AI Parts Look to Rally
• Neutral Sentiment: Calendar/ catalyst reminder: coverage pieces urge investors to watch Seagate’s April 28 update as the next key event—expect the stock to react to results, guidance and any commentary on AI/storage backlog trends. Dear Seagate Technology Stock Fans, Mark Your Calendars for April 28

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Seagate Technology during the fourth quarter worth about $28,000. Avion Wealth grew 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 worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners purchased a new position in Seagate Technology during the fourth quarter worth about $28,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

The company has a 50-day moving average of $424.83 and a 200 day moving average of $336.96. 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 firm has a market capitalization of $117.70 billion, a PE ratio of 61.06, a PEG ratio of 1.19 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last posted its 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. 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 period in the previous year, the business earned $2.03 earnings per share. The firm’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. Equities research analysts predict that Seagate Technology Holdings PLC will post 12.13 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.5%. Seagate Technology’s payout ratio is 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.