Seagate Technology (NASDAQ:STX) Price Target Raised to $605.00 at Bank of America

Seagate Technology (NASDAQ:STX) had its target price upped by Bank of America from $450.00 to $605.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Other equities research analysts have also recently issued reports about the company. Wedbush increased their price objective on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. KeyCorp set a $500.00 price objective on Seagate Technology in a research report on Wednesday, January 28th. Evercore increased their price objective on Seagate Technology from $450.00 to $550.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Wells Fargo & Company increased their price objective on Seagate Technology from $360.00 to $450.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Rosenblatt Securities increased their price objective on Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $502.67.

Seagate Technology Trading Down 1.5%

NASDAQ STX opened at $539.75 on Monday. Seagate Technology has a 12 month low of $72.62 and a 12 month high of $553.57. The stock has a market cap of $117.70 billion, a P/E ratio of 61.06, a P/E/G ratio of 1.19 and a beta of 1.61. The stock’s fifty day moving average price is $424.83 and its 200-day moving average price is $336.96. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. The company’s quarterly 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. As a group, equities analysts forecast that Seagate Technology will post 12.13 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 33.48%.

Insiders Place Their Bets

In other Seagate Technology news, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at approximately $89,654.45. This trade represents a 72.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was 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 directly owned 3,092 shares in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 112,223 shares of company stock valued at $46,711,217. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STX. WCM Investment Management LLC purchased a new position in shares of Seagate Technology during the 3rd quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Seagate Technology by 1,072.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after buying an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock valued at $553,125,000 after buying an additional 1,883,769 shares in the last quarter. Norges Bank purchased a new position in shares of Seagate Technology during the 4th quarter valued at about $498,363,000. Finally, Soroban Capital Partners LP lifted its position in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after buying an additional 1,327,197 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Summary

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

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.