Seagate Technology (NASDAQ:STX) Given New $330.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has raised its price target for Seagate Technology from $160.00 to $330.00, reflecting a potential upside of 53.93% from the stock's previous close.
• Seagate's stock is performing well, with a 52-week low of $63.19 and a high of $264.83, and it recently reported $2.44 billion in revenue for the quarter, surpassing estimates.
• Investment analysts show strong confidence in Seagate, with an average rating of "Moderate Buy" and an average target price of approximately $208.84.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target lifted by equities research analysts at Evercore ISI from $160.00 to $330.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the data storage provider's stock. Evercore ISI's price target would indicate a potential upside of 53.93% from the stock's previous close.

Several other equities analysts have also issued reports on STX. Citigroup boosted their price target on Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Cantor Fitzgerald upped their price objective on Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Benchmark upped their price objective on Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Morgan Stanley upped their price objective on Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Finally, UBS Group upped their price objective on Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $208.84.

Seagate Technology Stock Performance

Seagate Technology stock opened at $214.38 on Monday. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $264.83. The firm has a market capitalization of $45.66 billion, a PE ratio of 31.67, a PEG ratio of 0.96 and a beta of 1.63. The business's 50-day simple moving average is $191.09 and its 200-day simple moving average is $141.13.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The company's quarterly 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. Research analysts forecast that Seagate Technology will post 6.83 earnings per share for the current year.

Insider Activity at Seagate Technology

In other news, Director Jay L. Geldmacher sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the sale, the director owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief executive officer owned 485,668 shares of the company's stock, valued at approximately $121,368,433.20. The trade was a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,210 shares of company stock valued at $14,146,016. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new stake in shares of Seagate Technology in the second quarter worth $27,000. Rakuten Securities Inc. raised its holdings in shares of Seagate Technology by 884.2% in 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 during the last quarter. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $29,000. GoalVest Advisory LLC raised its position in Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock worth $46,000 after purchasing an additional 75 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in shares of Seagate Technology in the first quarter valued at about $31,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

About Seagate Technology

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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