Seagate Technology (NASDAQ:STX) Price Target Raised to $700.00 at Bank of America

Seagate Technology (NASDAQ:STX) had its target price hoisted by Bank of America from $605.00 to $700.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the data storage provider’s stock.

Several other equities analysts also recently commented on the stock. Evercore boosted their target price on shares of Seagate Technology from $450.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. China Renaissance boosted their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Mizuho boosted their target price on shares of Seagate Technology from $475.00 to $565.00 and gave the stock an “outperform” rating in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Seagate Technology from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $522.25.

Seagate Technology Price Performance

STX stock opened at $595.86 on Monday. Seagate Technology has a one year low of $80.56 and a one year high of $607.89. The company’s fifty day moving average price is $441.29 and its 200-day moving average price is $349.24. 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 company has a market capitalization of $129.94 billion, a PE ratio of 67.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.61.

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 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 the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts anticipate that Seagate Technology will post 12.13 EPS for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In related news, EVP Kian Fatt Chong sold 5,846 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 925 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,550 shares of company stock worth $46,476,441 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently bought and sold shares of STX. WCM Investment Management LLC purchased a new stake in shares of Seagate Technology in the third quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after acquiring an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Seagate Technology by 1,510.1% in the fourth 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 acquiring an additional 1,883,769 shares during the period. Norges Bank purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $498,363,000. Finally, Soroban Capital Partners LP raised its stake in shares of Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after acquiring an additional 1,327,197 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Major firms (Bank of America and Cantor Fitzgerald) raised Seagate price targets to $700, citing structural HDD tightness and next‑generation HAMR deployment — a clear analyst vote of confidence supporting higher shares. Seagate Price Target Soars to $700 at BofA and Cantor Fitzgerald: Is the HDD Boom Going Vertical?
• Positive Sentiment: Bank of America and others boosted price objectives for Seagate (and peers), reinforcing the thesis that constrained supply vs. strong AI/data-center demand will lift earnings and multiples. Western Digital, Seagate maintain clear path to higher earnings; BofA ups price objectives
• Positive Sentiment: Sector narratives remain supportive: multiple outlets note that data‑storage stocks have outperformed YTD and that earnings from Seagate/peers could extend the rally as AI workloads tighten supply. This backdrop is helping drive investor demand for STX. Data Storage Stocks Have Had a Great Year So Far. It Could Be About to Get Better.
• Positive Sentiment: Pre-earnings coverage (Barron’s, Investopedia) anticipates continuing storage demand tied to AI — a catalyst that can push near-term revenue and margin upside if Seagate confirms bookings and pricing power. Seagate, Western Digital Earnings Are Coming. Why the Storage Boom Can Continue.
• Neutral Sentiment: Seagate faces an imminent earnings report (Q1/Q3 depending on outlet timing) — a near-term catalyst that could validate analyst optimism or inject volatility. Investors are watching bookings, data-center demand, margins, and HAMR ramp commentary. Earnings To Watch: Seagate (STX) Reports Q1 Results Tomorrow
• Neutral Sentiment: Broader tech/AI optimism is lifting many “hot” tech names and setting a favorable tape for storage stocks; this is a market‑structure tailwind but increases sensitivity to any earnings/guide miss. For Hot AI Stocks, ‘The Music’s Playing’—And Shares Are Rising. Can This Continue?
• Neutral Sentiment: Related industry moves — Cantor Fitzgerald and others raising targets for Western Digital and Sandisk — signal a sector-wide upgrade that helps sentiment but also increases competitive/market dynamics to monitor. Cantor Fitzgerald Raises Western Digital Price Target to $500: Is the HDD Squeeze Just Getting Started?
• Negative Sentiment: Valuation and execution risk: some analysts note Seagate’s rich multiple and elevated leverage; a miss on bookings, guidance, or HAMR execution could trigger a sharp pullback given current expectations. STX Likely to Beat Q3 Earnings Estimates: How to Approach the Stock Now?

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.