Cantor Fitzgerald Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Key Points

• Cantor Fitzgerald raised its price target to $1,000 (from $650) and kept an "overweight" rating, implying roughly 48.8% upside, while other firms including Rosenblatt and Goldman also lifted targets into the $700–$1,000 range.
• Seagate beat Q3 expectations (EPS $4.10 vs. $3.47; revenue $3.11B vs. $2.94B) and guided Q4 EPS to $4.80–$5.20, fueling a ~16% stock jump on signs of strong AI/data‑center demand.
• Key risks include a high valuation and heavy leverage (P/E roughly mid‑60s to mid‑70s and debt‑to‑equity ~7.6); insiders have recently sold shares despite very high institutional ownership (~93%).

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target hoisted by investment analysts at Cantor Fitzgerald from $650.00 to $1,000.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has an "overweight" rating on the data storage provider's stock. Cantor Fitzgerald's target price suggests a potential upside of 48.80% from the company's current price.

STX has been the subject of several other reports. The Goldman Sachs Group lifted their target price on Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. 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 report on Thursday, January 15th. Finally, Wedbush raised their price target on shares of Seagate Technology from $430.00 to $700.00 and gave the company an "outperform" rating in a research report on Monday. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $649.54.

Seagate Technology Stock Up 16.1%

Shares of NASDAQ STX opened at $672.05 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The business's 50 day moving average is $444.55 and its two-hundred day moving average is $351.81. Seagate Technology has a 52-week low of $85.47 and a 52-week high of $693.70. The firm has a market cap of $146.56 billion, a price-to-earnings ratio of 75.67, a PEG ratio of 0.99 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.47 by $0.63. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business posted $1.90 earnings per share. The company's quarterly revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts predict that Seagate Technology will post 12.13 EPS for the current year.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 24,584 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the completion of the transaction, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. The trade was a 6.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $2,434,742.08. The SEC filing for this sale provides additional information. Insiders have 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.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of STX. National Pension Service grew its position in shares of Seagate Technology by 28.0% in the 3rd quarter. National Pension Service now owns 250,121 shares of the data storage provider's stock valued at $59,044,000 after buying an additional 54,722 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Seagate Technology in the third quarter valued at $1,864,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Seagate Technology by 1.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after acquiring an additional 6,028 shares during the last quarter. Keystone Investors PTE Ltd. boosted its stake in Seagate Technology by 55.7% in the third quarter. Keystone Investors PTE Ltd. now owns 50,321 shares of the data storage provider's stock valued at $11,879,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Estate Counselors LLC acquired a new position in Seagate Technology in the third quarter valued at $2,557,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

More Seagate Technology News

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

• Positive Sentiment: Q3 results materially beat expectations — EPS $4.10 vs. consensus ~$3.47 and revenue $3.11B vs. ~$2.94B; company reported record margins and roughly $1B of free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Very strong forward guidance — Q4 EPS guided to $4.80–$5.20 (street ~3.89) and revenue guided to $3.4–$3.6B — signaling continued AI/data‑center demand. Reuters: Seagate forecasts upbeat quarter
• Positive Sentiment: Wall Street is repricing the stock: Rosenblatt raised its price target to $1,000 (buy), and other firms (Wedbush, BofA, Cantor) have lifted targets to the $700 area — signaling big upside in analyst models. Rosenblatt price-target note
• Positive Sentiment: Sector lift: Seagate’s upbeat forecast helped lift storage peers and pushed storage stocks higher on expectations of sustained AI spending. Reuters: Storage stocks jump
• Neutral Sentiment: Board declared a quarterly dividend of $0.74/share (record June 24, payable July 7); yield ~0.5% — a small income signal but not a primary catalyst.
• Negative Sentiment: Risks and valuation — STX now trades with a high P/E (~65.5) and very high reported debt-to-equity (~7.6). Rapid re‑rating raises downside risk if AI/data‑center demand slows or HAMR adoption/timing disappoints.

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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