Seagate Technology (NASDAQ:STX) Trading 1.6% Higher After Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX) shares traded up 1.6% during mid-day trading on Monday after Bank of America raised their price target on the stock from $605.00 to $700.00. Bank of America currently has a buy rating on the stock. Seagate Technology traded as high as $602.91 and last traded at $595.86. 2,837,621 shares changed hands during trading, a decline of 30% from the average session volume of 4,027,406 shares. The stock had previously closed at $586.25.

A number of other analysts also recently issued reports on the stock. Argus increased their target price on shares of Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. China Renaissance increased their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Morgan Stanley increased their target price on shares of Seagate Technology from $468.00 to $582.00 and gave the stock an “overweight” rating in a research report on Monday, April 6th. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Finally, Wedbush increased their target price on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $522.25.

Insider Activity

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $420.73, for a total transaction of $8,414,600.00. Following the completion of the sale, the chief executive officer directly owned 355,591 shares of the company’s stock, valued at $149,607,801.43. This trade represents a 5.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 111,550 shares of company stock worth $46,476,441 over the last three months. Insiders own 0.79% of the company’s stock.

Seagate Technology News Summary

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?

Institutional Trading of Seagate Technology

Several large investors have recently bought and sold shares of the company. Cornerstone Wealth Group LLC increased its stake in Seagate Technology by 0.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after purchasing an additional 19 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Seagate Technology by 1.8% during the 4th quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider’s stock valued at $385,000 after acquiring an additional 25 shares in the last quarter. Trajan Wealth LLC grew its stake in Seagate Technology by 1.9% during the 4th quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider’s stock valued at $365,000 after acquiring an additional 25 shares in the last quarter. Fortis Capital Management LLC grew its stake in Seagate Technology by 1.1% during the 4th quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider’s stock valued at $704,000 after acquiring an additional 27 shares in the last quarter. Finally, TSG Advice Partners LLC grew its stake in Seagate Technology by 1.9% during the 1st quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider’s stock valued at $567,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 1.6%

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 50 day simple moving average of $441.29 and a two-hundred day simple moving average of $349.24. The company has a market cap of $129.94 billion, a PE ratio of 67.41, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.34. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 EPS. Sell-side analysts forecast that Seagate Technology Holdings PLC will post 12.13 EPS for the current year.

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.