Barclays Increases Seagate Technology (NASDAQ:STX) Price Target to $200.00

Key Points

• Barclays has raised its price target for Seagate Technology (NASDAQ:STX) from $180 to $200, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 3.61% from the last close.
• Multiple analysts have recently upgraded their ratings on Seagate, leading to a consensus rating of "Moderate Buy" and an average target price of $158.11 from various brokerages.
• Seagate reported strong quarterly earnings with $2.59 EPS, exceeding estimates, and revealed a stock buyback plan authorizing the repurchase of up to $5 billion in shares, indicating potential confidence in the company's valuation.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price lifted by Barclays from $180.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the data storage provider's stock. Barclays's price objective would indicate a potential upside of 3.61% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective for the company in a research report on Friday, May 16th. Benchmark boosted their price objective on shares of Seagate Technology from $128.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. TD Cowen lifted their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Finally, Rosenblatt Securities lifted their target price on shares of Seagate Technology from $185.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $158.11.

Seagate Technology Price Performance

NASDAQ:STX opened at $193.04 on Thursday. The company's fifty day moving average price is $157.87 and its 200-day moving average price is $120.23. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $193.80. The firm has a market capitalization of $41.06 billion, a P/E ratio of 28.51, a PEG ratio of 1.18 and a beta of 1.53.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's revenue was up 29.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Equities analysts anticipate that Seagate Technology will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the transaction, the chief executive officer owned 478,912 shares in the company, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director directly owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,078 shares of company stock worth $8,561,503. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Seagate Technology by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider's stock valued at $2,441,729,000 after purchasing an additional 769,009 shares during the period. JPMorgan Chase & Co. boosted its stake in Seagate Technology by 12.9% during the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares during the last quarter. State Street Corp lifted its stake in Seagate Technology by 5.0% during the 2nd quarter. State Street Corp now owns 9,001,365 shares of the data storage provider's stock valued at $1,305,499,000 after acquiring an additional 432,455 shares during the period. Geode Capital Management LLC increased its position in shares of Seagate Technology by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider's stock valued at $656,066,000 after purchasing an additional 85,660 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Seagate Technology by 3.6% in the 1st quarter. Invesco Ltd. now owns 2,861,418 shares of the data storage provider's stock worth $243,077,000 after buying an additional 99,884 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.