Seagate Technology (NASDAQ:STX) Given New $350.00 Price Target at Loop Capital

Key Points

• Loop Capital has raised its price target for Seagate Technology from $200.00 to $350.00, indicating a potential upside of 55.29% from the current stock price.
• Seagate reported earnings per share of $2.59 for its last quarter, surpassing analysts' expectations and showing a 29.5% increase in revenue year-over-year.
• Institutional investors hold 92.87% of Seagate's stock, reflecting strong interest from major investment firms in the company's growth potential.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective upped by equities research analysts at Loop Capital from $200.00 to $350.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a "buy" rating on the data storage provider's stock. Loop Capital's price objective points to a potential upside of 55.29% from the stock's current price.

A number of other brokerages also recently weighed in on STX. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $175.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Barclays upped their price objective on shares of Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. UBS Group upped their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Zacks Research upgraded shares of Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $227.65.

Seagate Technology Stock Up 2.7%

NASDAQ STX opened at $225.39 on Thursday. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $264.83. The company has a market capitalization of $48.00 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 0.95 and a beta of 1.63. The firm's 50 day moving average is $195.03 and its 200-day moving average is $143.09.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company 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. As a group, sell-side analysts expect that Seagate Technology will post 6.83 EPS for the current year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 1,410 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $225.56, for a total value of $318,039.60. Following the sale, the executive vice president owned 18,041 shares in the company, valued at $4,069,327.96. This trade represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Ci Lee sold 1,116 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the completion of the sale, the insider owned 257 shares in the company, valued at $39,413.52. This represents a 81.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,620 shares of company stock valued at $14,464,056. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STX. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology during the second quarter valued at about $27,000. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology in the second quarter worth $29,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology in the first quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC increased its stake in Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares during 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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