Seagate Technology (NASDAQ:STX) Given New $275.00 Price Target at Sanford C. Bernstein

Key Points

• Seagate Technology's price target has been raised from $250 to $275 by Sanford C. Bernstein, suggesting a potential upside of 23.36% from its previous closing price, while maintaining an "outperform" rating on the stock.
• The consensus rating for Seagate Technology is currently a "Moderate Buy" with an average price target of $234.65, reflecting positive sentiment among analysts.
• Seagate reported earnings of $2.59 per share, exceeding expectations, with revenues of $2.44 billion, a 29.5% increase from the previous year.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target hoisted by research analysts at Sanford C. Bernstein from $250.00 to $275.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has an "outperform" rating on the data storage provider's stock. Sanford C. Bernstein's price target would indicate a potential upside of 23.36% from the company's previous close.

Several other brokerages have also recently issued reports on STX. Bank of America increased their price objective on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Benchmark raised their price target on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Zacks Research upgraded Seagate Technology from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 2nd. Barclays raised their price target on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Finally, Morgan Stanley raised their price target on Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.65.

Seagate Technology Stock Up 3.7%

NASDAQ:STX opened at $222.93 on Thursday. The stock's fifty day moving average is $201.68 and its two-hundred day moving average is $147.93. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $264.83. The stock has a market capitalization of $47.48 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The firm's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, sell-side analysts expect that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Activity

In related news, insider James Ci Lee sold 3,509 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $154.74, for a total transaction of $542,982.66. Following the transaction, the insider owned 1,288 shares of the company's stock, valued at $199,305.12. This trade represents a 73.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the sale, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,620 shares of company stock valued at $14,464,056. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in Seagate Technology in the second quarter valued at about $27,000. Rakuten Securities Inc. boosted its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology during the 1st quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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