Seagate Technology (NASDAQ:STX) Given New $1,000.00 Price Target at Rosenblatt Securities

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target boosted by investment analysts at Rosenblatt Securities from $500.00 to $1,000.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the data storage provider's stock. Rosenblatt Securities' price objective would suggest a potential upside of 72.70% from the company's current price.

A number of other equities analysts also recently weighed in on STX. Evercore upped their target price on Seagate Technology from $450.00 to $550.00 and gave the company an "outperform" rating in a report on Wednesday, April 8th. Mizuho upped their target price on Seagate Technology from $475.00 to $565.00 and gave the company an "outperform" rating in a report on Friday, April 10th. Cantor Fitzgerald upped their target price on Seagate Technology from $500.00 to $650.00 and gave the company an "overweight" rating in a report on Wednesday, February 4th. Loop Capital upped their target price on Seagate Technology from $700.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein upped their target price on Seagate Technology from $500.00 to $620.00 and gave the company an "outperform" rating in a report on Thursday, April 9th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $556.42.

Seagate Technology Price Performance

STX stock opened at $579.03 on Wednesday. The firm has a market capitalization of $126.27 billion, a PE ratio of 65.50, a P/E/G ratio of 0.99 and a beta of 1.61. Seagate Technology has a one year low of $81.22 and a one year high of $607.89. 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 firm has a 50-day moving average of $444.55 and a two-hundred day moving average of $351.81.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.63. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.94 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm's quarterly 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. On average, analysts forecast that Seagate Technology will post 12.13 earnings per share for the current year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the stock in a transaction that occurred on 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 filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Mosley sold 24,584 shares of the stock in a transaction that occurred 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 approximately $152,779,151.07. This trade represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 111,550 shares of company stock worth $46,476,441. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Group LLC grew its holdings in Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock valued at $1,388,000 after purchasing an additional 19 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock valued at $385,000 after acquiring an additional 25 shares during the period. Trajan Wealth LLC boosted its position in shares of Seagate Technology by 1.9% in the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock valued at $365,000 after acquiring an additional 25 shares during the period. TSG Advice Partners LLC boosted its position in shares of Seagate Technology by 1.9% in the first quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider's stock valued at $567,000 after acquiring an additional 27 shares during the period. Finally, Fortis Capital Management LLC boosted its position in shares of Seagate Technology by 1.1% in the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock valued at $704,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Q3 results materially beat estimates — Seagate reported $4.10 EPS vs. ~$3.47 consensus and $3.11B revenue (up ~44% YoY); management cited record margins and ~ $1B free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Company raised FYQ4 guidance well above Street expectations — EPS guide $4.80–5.20 (vs. ~3.89 est) and revenue $3.4B–$3.6B, signaling sustained AI/data‑center spending that underpins near‑term demand. Reuters: Seagate Forecasts Upbeat Quarter
• Positive Sentiment: Wall Street is responding with price‑target raises and buy ratings (multiple firms to ~$700), reflecting belief in structural HDD tightness, HAMR ramp and AI‑driven capacity demand. Price Target Coverage
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share (record June 24; payable July 7), a small yield (~0.5%) that modestly supports total return but is not the primary driver of the move.
• Neutral Sentiment: Investors can review the earnings call and slide deck for management detail on AI exposure, HAMR rollout and backlog dynamics. Earnings Call Transcript
• Negative Sentiment: Despite the positive print, the stock is underperforming some peers intraday and faces concerns around stretched valuation (high P/E) and heavy leverage — factors that can amplify volatility if AI capex guidance softens. MarketWatch: Underperformance
• Negative Sentiment: Some analysts warn AI spending could normalize and create downside if enterprise capex slows; watch commentary and orders in upcoming quarters for confirmation. FXEmpire: Caution on AI Spending

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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