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

Key Points

• Morgan Stanley raised its price target on Seagate to $582 (from $468) and kept an "overweight" rating, implying about a 35.6% upside from the current price.
• Analyst sentiment is broadly positive with a consensus of "Moderate Buy" and an average target near $469.75, as multiple firms (UBS, Baird, Wells Fargo, JPMorgan) have recently lifted targets or issued favorable ratings.
• Seagate posted a quarterly beat (EPS $3.11 vs. $2.77 est.; revenue up 21.5% YoY) and guided Q3 2026 EPS to $3.20–$3.60, though it carries a high debt-to-equity ratio (7.63) and a PE around 48.6.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target increased by Morgan Stanley from $468.00 to $582.00 in a research note issued to investors on Monday. The brokerage presently has an "overweight" rating on the data storage provider's stock. Morgan Stanley's target price points to a potential upside of 35.55% from the company's current price.

STX has been the topic of a number of other reports. UBS Group lifted their price target on shares of Seagate Technology from $385.00 to $440.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Robert W. Baird raised their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $360.00 to $450.00 and gave the company an "equal weight" rating in a report on Wednesday, January 28th. Benchmark upped their price target on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a "buy" rating in a research report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. assumed coverage on Seagate Technology in a report on Monday, March 30th. They issued an "overweight" rating and a $525.00 price target for the company. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $469.75.

Seagate Technology Price Performance

STX stock opened at $429.36 on Monday. The stock has a 50-day moving average price of $404.33 and a two-hundred day moving average price of $315.31. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The company has a market cap of $93.63 billion, a PE ratio of 48.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.61.

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

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the business's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. The trade was a 86.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 113,635 shares of company stock valued at $47,133,843. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC increased its holdings in Seagate Technology by 97.9% during the 4th quarter. Hsbc Holdings PLC now owns 172,331 shares of the data storage provider's stock worth $47,579,000 after purchasing an additional 85,246 shares during the last quarter. Stance Capital LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $2,288,000. World Investment Advisors boosted its stake in shares of Seagate Technology by 1.9% during the 4th quarter. World Investment Advisors now owns 11,832 shares of the data storage provider's stock valued at $3,258,000 after buying an additional 226 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Seagate Technology by 18.8% during the fourth quarter. Corient Private Wealth LLC now owns 35,378 shares of the data storage provider's stock worth $9,745,000 after buying an additional 5,590 shares in the last quarter. Finally, Pure Financial Advisors LLC grew its position in shares of Seagate Technology by 8.6% during the fourth quarter. Pure Financial Advisors LLC now owns 1,201 shares of the data storage provider's stock worth $331,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

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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