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

Key Points

• Mizuho raised its price target on Seagate from $565 to $700 and several other firms have sharply lifted targets (Rosenblatt to $1,000, BNP Paribas to $860), leaving a consensus "Moderate Buy" with an average target of $649.54, implying additional upside.
• Strong results and guidance: Seagate beat Q3 expectations with $4.10 EPS (vs. $3.47) and $3.11B revenue (vs. $2.94B) and guided Q4 EPS to $4.80–$5.20, driven by robust AI/data‑center demand.
• Valuation and risk: Despite the rally, the stock trades at a high P/E (~65.5) with very high debt‑to‑equity (~7.6) and notable insider selling, raising downside risk if demand or product execution falters.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target lifted by stock analysts at Mizuho from $565.00 to $700.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an "outperform" rating on the data storage provider's stock. Mizuho's target price would suggest a potential upside of 4.16% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. BNP Paribas Exane increased their target price on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a report on Wednesday. Rosenblatt Securities increased their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday. Robert W. Baird lifted their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Argus increased their price target on shares of Seagate Technology from $300.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. Finally, Loop Capital boosted their price objective on shares of Seagate Technology from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $649.54.

Seagate Technology Trading Up 16.1%

STX stock opened at $672.05 on Wednesday. The company has a market capitalization of $146.56 billion, a PE ratio of 75.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology has a one year low of $85.47 and a one year high of $693.70. The company's 50 day moving average price is $444.55 and its two-hundred day moving average price is $351.81.

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

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction that occurred 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 sale, the director directly owned 223 shares in the company, valued at $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer owned 375,591 shares of the company's stock, valued at approximately $152,779,151.07. This trade represents a 6.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,550 shares of company stock valued at $46,476,441 in the last three months. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STX. WCM Investment Management LLC bought a new stake in Seagate Technology during the third quarter worth about $1,187,621,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Seagate Technology by 1,072.5% during the third 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 last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Seagate Technology by 1,510.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after purchasing an additional 1,883,769 shares during the last quarter. Norges Bank bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $498,363,000. Finally, Soroban Capital Partners LP grew its stake in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after buying an additional 1,327,197 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Trending Headlines about Seagate Technology

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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