Argus Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Key Points

• Brokerages have become markedly more bullish — Argus raised its target to $750 (from $450) and several firms lifted targets as high as $1,000, leaving a consensus average target near $709 versus the current price around $674, implying notable upside.
• Seagate beat Q3 expectations with $4.10 EPS (vs. $3.51 est.) and $3.11B revenue, and management cited AI-driven demand that lifted nearline HDD shipments and margins, which is the main catalyst for the stock rally.
• Counterbalancing the optimism, analysts warn of valuation and industry capex-cycle risks if AI spending moderates, and insiders have been net sellers (90,430 shares, ~$37.1M over 90 days), signaling potential downside risks.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective increased by equities research analysts at Argus from $450.00 to $750.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a "buy" rating on the data storage provider's stock. Argus' price objective would indicate a potential upside of 11.34% from the stock's current price.

Several other brokerages have also recently commented on STX. Loop Capital boosted their price target on shares of Seagate Technology from $700.00 to $800.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Sanford C. Bernstein lifted their price objective on shares of Seagate Technology from $620.00 to $1,000.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday. Mizuho increased their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their price target on shares of Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $709.13.

Seagate Technology Stock Performance

STX opened at $673.64 on Thursday. The company has a market capitalization of $146.90 billion, a price-to-earnings ratio of 63.91, a price-to-earnings-growth ratio of 1.06 and a beta of 1.61. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.72. Seagate Technology has a 1-year low of $89.89 and a 1-year high of $697.00. The business has a 50 day moving average price of $454.23 and a two-hundred day moving average price of $356.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm's revenue for the quarter was up 44.1% on a year-over-year basis. During the same period last year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology will post 12.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kian Fatt Chong sold 5,846 shares of the business'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 legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 24,584 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the sale, the chief executive officer owned 375,591 shares of the company's stock, valued at approximately $152,779,151.07. This represents a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,430 shares of company stock worth $37,129,976 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC grew its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $28,000. Avion Wealth grew its position in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new stake in Seagate Technology in the fourth quarter worth approximately $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Q3 results beat expectations: Seagate reported $4.10 EPS and $3.11B revenue, with management citing AI-driven demand that lifted nearline shipments and margins — the core trigger for the rally. Seagate shares climb as AI-driven demand drive Q3 beat
• Positive Sentiment: Analysts are raising targets and adding conviction: multiple firms (e.g., Bernstein, Rosenblatt, JPMorgan, Morgan Stanley and others) lifted price targets and ratings, including some outsized $1,000 calls — supporting momentum and buy-side flows. Bernstein adjusts Seagate price target
• Positive Sentiment: Sustained AI demand signal across peers: Sandisk and Western Digital also flagged stronger-than-expected AI/data‑center spending, reinforcing sector momentum that benefits Seagate’s nearline HDD business. Sandisk joins Western Digital, Seagate in signaling strong AI storage demand
• Neutral Sentiment: Seagate launched refreshed storage products aimed at high‑res media and AI workflows — supportive for commercial positioning but incremental to near‑term financials. Seagate launches refreshed storage lineup
• Negative Sentiment: Valuation and cycle risk concerns: some analysts and commentaries warn STX may be richly priced versus fundamentals and that hyperscaler capex could peak, making the stock vulnerable if AI spending moderates. Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle
• Negative Sentiment: Calls of overvaluation: at least one analyst piece labels Seagate the most overvalued memory stock despite operational strength, reminding investors that strong momentum can coexist with stretched multiples. Seagate: The Most Overvalued Memory Stock Might Be The Best Pick (Upgrade)

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.

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