Seagate Technology (NASDAQ:STX) Price Target Raised to $1,200.00

Key Points

• Morgan Stanley raised Seagate Technology’s price target to $1,200 from $1,187 while maintaining an “overweight” rating, implying 77.55% potential upside. The broader analyst consensus is “Moderate Buy,” with an average target of $973.92.
• Seagate reported quarterly EPS of $5.71, beating expectations of $5.10, while revenue rose 48.5% year over year to $3.63 billion. The company issued fiscal Q1 2027 EPS guidance of $7.10–$7.50.
• Insiders sold 466,959 shares worth approximately $378.8 million over the past 90 days, including sales by the CFO and an executive vice president to cover tax obligations tied to equity awards. Institutional investors own 92.87% of the company’s stock.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target upped by research analysts at Morgan Stanley from $1,187.00 to $1,200.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the data storage provider's stock. Morgan Stanley's target price would suggest a potential upside of 77.55% from the company's current price.

A number of other brokerages have also recently commented on STX. Rosenblatt Securities lifted their price target on Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $1,300.00 price objective on shares of Seagate Technology in a report on Wednesday, July 29th. Melius Research began coverage on Seagate Technology in a research note on Monday, June 29th. They issued a "buy" rating and a $1,600.00 price objective for the company. Bank of America raised their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Finally, TD Cowen lifted their target price on Seagate Technology from $850.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $973.92.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded up $15.07 during midday trading on Tuesday, hitting $675.88. The company had a trading volume of 2,753,013 shares, compared to its average volume of 4,392,376. The company has a quick ratio of 1.17, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Seagate Technology has a 12-month low of $209.00 and a 12-month high of $1,145.00. The stock has a market cap of $153.69 billion, a price-to-earnings ratio of 48.69 and a beta of 2.06. The company has a fifty day simple moving average of $839.57 and a 200 day simple moving average of $806.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The business's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, analysts predict that Seagate Technology will post 35.70 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP John Morris sold 15,466 shares of the company's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total value of $11,942,071.90. Following the sale, the executive vice president directly owned 31,132 shares of the company's stock, valued at approximately $24,038,573.80. This represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gianluca Romano sold 49,984 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the sale, the chief financial officer directly owned 70,756 shares in the company, valued at $54,634,952.96. This represents a 41.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company's stock.

Institutional Trading of Seagate Technology

A number of hedge funds have recently modified their holdings of STX. Wellington Management Group LLP boosted its position in shares of Seagate Technology by 2,655.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider's stock worth $2,329,641,000 after acquiring an additional 2,326,538 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Swedbank AB raised its position in shares of Seagate Technology by 67.6% during the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider's stock worth $277,821,000 after acquiring an additional 285,949 shares in the last quarter. Amundi lifted its stake in Seagate Technology by 32.2% during the first quarter. Amundi now owns 965,565 shares of the data storage provider's stock worth $378,267,000 after purchasing an additional 235,359 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Seagate Technology by 119.7% during the first quarter. Hsbc Holdings PLC now owns 378,527 shares of the data storage provider's stock worth $147,753,000 after purchasing an additional 206,196 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc NASDAQ: STX is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.

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