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

Key Points

• Loop Capital raised its price target on Seagate Technology from $950 to $1,140 while keeping a buy rating. The new target implies about 41.66% upside from the prior close.
• Other analysts have also turned more bullish on STX, with several firms lifting their targets. The stock now carries a consensus Moderate Buy rating and an average target price of $733.71.
• Seagate recently reported strong quarterly results, including EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion versus $2.96 billion expected. It also guided Q4 2026 EPS to 4.8 to 5.2.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective lifted by research analysts at Loop Capital from $950.00 to $1,140.00 in a report issued on Friday,MarketScreener reports. The firm currently has a "buy" rating on the data storage provider's stock. Loop Capital's price target suggests a potential upside of 41.66% from the company's previous close.

A number of other brokerages have also issued reports on STX. Evercore increased their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an "outperform" rating in a report on Tuesday. Argus boosted their price objective on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Robert W. Baird raised their price target on Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $450.00 to $700.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $733.71.

Seagate Technology Trading Down 1.5%

NASDAQ:STX opened at $804.76 on Friday. The business has a fifty day moving average price of $517.83 and a 200-day moving average price of $390.41. Seagate Technology has a one year low of $103.73 and a one year high of $841.31. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm has a market capitalization of $180.45 billion, a price-to-earnings ratio of 76.35 and a beta of 1.98.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the company earned $1.90 earnings per share. The business's revenue for the quarter 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. Sell-side analysts forecast that Seagate Technology will post 14.1 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 8,003 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares in the company, valued at $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 118,283 shares of company stock valued at $65,989,618. Corporate insiders own 0.79% of the company's stock.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth 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 during the period. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares during the period. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the 4th quarter worth about $28,000. Avion Wealth raised its stake in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares during the period. Finally, Concord Wealth Partners purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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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