Seagate Technology (NASDAQ:STX) Upgraded to Outperform at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Seagate Technology (NASDAQ:STX) from a neutral rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. BNP Paribas Exane currently has $380.00 target price on the data storage provider’s stock.

A number of other brokerages have also recently weighed in on STX. Fox Advisors lifted their price target on shares of Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Robert W. Baird raised their price objective on Seagate Technology from $188.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Wells Fargo & Company lifted their target price on Seagate Technology from $250.00 to $360.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Cantor Fitzgerald increased their price target on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Finally, TD Cowen lifted their price objective on Seagate Technology from $270.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $350.41.

Seagate Technology Price Performance

Shares of STX stock opened at $344.22 on Wednesday. The stock has a market cap of $73.51 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.60. The stock has a 50-day moving average of $285.72 and a 200-day moving average of $227.19. Seagate Technology has a one year low of $63.19 and a one year high of $349.55.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, December 24th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.9%. Seagate Technology’s dividend payout ratio is 38.00%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 54,021 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the sale, the chief financial officer owned 56,293 shares in the company, valued at approximately $16,052,511.88. The trade was a 48.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 132,557 shares of company stock worth $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sovereign Financial Group Inc. grew its stake in Seagate Technology by 3.2% in the 4th quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock valued at $293,000 after acquiring an additional 33 shares during the period. Pallas Capital Advisors LLC lifted its holdings in Seagate Technology by 0.6% during the fourth quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock valued at $1,500,000 after purchasing an additional 33 shares in the last quarter. West Family Investments Inc. grew its position in shares of Seagate Technology by 2.7% in the third quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock valued at $337,000 after purchasing an additional 37 shares during the period. Capital Investment Advisors LLC increased its stake in shares of Seagate Technology by 1.9% during the fourth quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock worth $537,000 after purchasing an additional 37 shares in the last quarter. Finally, United Community Bank raised its position in shares of Seagate Technology by 35.2% during the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Bank of America reiterated a Buy on STX and raised its target to $400, citing stronger visibility into revenue and margin growth and forecasting a robust fiscal Q2 driven by data‑center demand. Bank of America note / Proactive
• Positive Sentiment: Citigroup raised its price target to $385 and maintained a Buy rating, signaling analyst conviction that Seagate will capture AI/data‑center storage spending. Citigroup raise / Benzinga
• Positive Sentiment: BNP Paribas Exane upgraded STX from Neutral to Outperform with a $380 target — another upward revision that helped lift market sentiment. BNP Paribas upgrade / Finviz
• Positive Sentiment: Sector narrative: analysts and market pieces are shifting attention from GPUs to storage as AI workloads increase demand for both hot‑tier SSDs and large‑capacity HDDs — a structural tailwind for Seagate’s enterprise/data‑center business. Yahoo: Seagate rises after upgrade
• Neutral Sentiment: Rosenblatt and UBS raised targets (Rosenblatt to $370 buy; UBS raised its PT to $335 but kept a Neutral rating), reflecting higher earnings/valuation expectations while showing some variation in conviction. Rosenblatt/UBS / Benzinga
• Neutral Sentiment: Recent writeups looked at Seagate’s valuation after the rounds of upgrades and AI storage commentary — useful context for investors reassessing multiples amid faster revenue/margin visibility. Yahoo Finance valuation piece
• Negative Sentiment: Not all coverage is uniformly bullish: Zacks trimmed its rating from Strong‑Buy to Hold, introducing a countervailing view on near‑term upside and reminding investors some analysts see less immediate upside. Zacks downgrade TickerReport

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.