JPMorgan Chase & Co. Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Key Points

• JPMorgan raised its price target on Seagate to $775 (from $525) and kept an "overweight" rating, implying roughly a 15% upside from current levels.
• Seagate posted a strong quarter—EPS $4.10 vs. $3.47 and revenue $3.11B vs. $2.94B—and gave very bullish Q4 guidance ($4.80–$5.20 EPS), driven by sustained AI/data‑center demand and prompting multiple analyst target upgrades.
• Elevated valuation and leverage pose risks: the stock trades at a high P/E and a very high debt‑to‑equity (~7.6), and recent insider selling and rapid re‑rating increase downside if AI demand or HAMR adoption disappoints.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $525.00 to $775.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm currently has an "overweight" rating on the data storage provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 15.32% from the company's current price.

STX has been the topic of a number of other reports. Jefferies Financial Group reiterated a "hold" rating on shares of Seagate Technology in a report on Wednesday, February 4th. Wedbush raised their target price on shares of Seagate Technology from $430.00 to $700.00 and gave the stock an "outperform" rating in a report on Monday. Evercore lifted their price target on shares of Seagate Technology from $450.00 to $550.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research report on Friday, March 27th. Finally, China Renaissance raised their price objective on Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $649.54.

Seagate Technology Trading Up 16.1%

Shares of Seagate Technology stock 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 firm has a market cap of $146.56 billion, a price-to-earnings ratio of 75.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The business has a fifty day simple moving average of $444.55 and a 200-day simple moving average of $351.81. Seagate Technology has a fifty-two week low of $85.47 and a fifty-two week high of $693.70.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $1.90 earnings per share. Seagate Technology's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities analysts forecast that Seagate Technology will post 12.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction on Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total value of $10,000,033.68. Following the transaction, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. This represents a 6.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 111,550 shares of company stock valued at $46,476,441. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC acquired a new position in shares of Seagate Technology in the 3rd quarter valued at about $1,187,621,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after purchasing an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after purchasing an additional 1,883,769 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology during the fourth quarter worth approximately $498,363,000. Finally, Soroban Capital Partners LP boosted its holdings in shares of Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the period. 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.

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.

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