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

Key Points

• Mizuho raised its price target on Seagate to $565 with an "outperform" rating (implying ~12.8% upside), and several other brokers have lifted targets amid a consensus Moderate Buy rating and an average target of $477.67.
• Seagate reported a quarterly EPS beat ($3.11 vs. $2.77) and revenue up 21.5% YoY to $2.83B, and analysts point to AI/datacenter-driven HDD pricing and margin gains as a major tailwind supporting stronger guidance.
• While insiders sold roughly 113,635 shares (~$47.1M) over the past 90 days, institutional ownership is extremely high (~92.9%) with several large funds significantly increasing their stakes.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price increased by research analysts at Mizuho from $475.00 to $565.00 in a research report issued on Friday. The brokerage currently has an "outperform" rating on the data storage provider's stock. Mizuho's price objective would indicate a potential upside of 12.83% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Robert W. Baird boosted their target price on Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. TD Cowen increased their price target on Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. UBS Group lifted their price target on Seagate Technology from $385.00 to $440.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Wedbush boosted their price objective on Seagate Technology from $290.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Finally, Susquehanna raised Seagate Technology from a "negative" rating to a "neutral" rating and raised their target price for the company from $150.00 to $280.00 in a research report on Friday, January 16th. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average target price of $477.67.

Seagate Technology Stock Performance

NASDAQ STX opened at $500.77 on Friday. The company has a fifty day moving average price of $410.33 and a 200-day moving average price of $321.22. The firm has a market cap of $109.20 billion, a price-to-earnings ratio of 56.65, a PEG ratio of 1.08 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. Seagate Technology has a 1 year low of $67.63 and a 1 year high of $517.18.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the firm earned $2.03 earnings per share. The firm's revenue was up 21.5% on a year-over-year basis. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities research analysts predict that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 925 shares of the company's 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 of the company's stock, valued at $99,908.46. This represents a 80.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 113,635 shares of company stock valued at $47,133,843. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently added to or reduced their stakes in STX. WCM Investment Management LLC bought a new stake in shares of Seagate Technology in the third quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership boosted its holdings in 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 worth $696,262,000 after buying an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Seagate Technology by 1,510.1% in the 4th 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 buying an additional 1,883,769 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology during the 4th quarter valued at $498,363,000. Finally, Soroban Capital Partners LP lifted its position 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 acquiring an additional 1,327,197 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: AI/datacenter demand is lifting HDD pricing and margins — analysts and commentators say stronger pricing power for high‑capacity drives is boosting revenue and gross margins, an important tailwind for Seagate’s core HDD business. Read More.
• Positive Sentiment: Broker upgrades and higher price targets (Evercore to $550; Bernstein to $620; JPMorgan coverage initiation) are reinforcing bullish sentiment and institutional demand, supporting the recent run in the stock. Read More.
• Positive Sentiment: Seagate is seen as a beneficiary of NVIDIA‑led data center buildouts — coverage pieces highlight Seagate among hardware suppliers gaining from the AI storage cycle, underpinning expectations for multi‑year demand. Read More.
• Neutral Sentiment: Seagate sold its Lyve Cloud business to Wasabi Technologies and received equity in Wasabi — this simplifies Seagate’s portfolio and preserves upside via an equity stake, but financial terms weren’t disclosed so near‑term impact on EPS and cash flow is unclear. Read More.
• Neutral Sentiment: Recent price momentum and coverage pieces highlighting strong multi‑period returns draw attention but are descriptive — they explain why momentum is strong but don’t guarantee continued gains. Read More.
• Negative Sentiment: Valuation and execution risk after the rally — the stock’s sizable run and a relatively high trailing PE increase the risk of a pullback if HDD pricing or AI capex expectations disappoint. Read More.

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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