Seagate Technology (NASDAQ:STX) Given New $600.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Seagate to $600 (from $525) and kept an overweight rating, implying roughly a 12.88% upside from the prior close.
• Multiple analysts have lifted targets (e.g., Cantor Fitzgerald to $650, Mizuho to $565), leaving Seagate with a consensus "Moderate Buy" rating, an average price target of $494.13, and 19 Buy vs. 6 Hold ratings.
• Shares traded at $531.54—near the 52‑week high—after an earnings beat (EPS $3.11 vs. $2.77) and 21.5% revenue growth, though the company has high leverage (debt/equity 7.63) and insiders sold about $46.7M of stock in the past three months.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from $525.00 to $600.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the data storage provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 12.88% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. BNP Paribas Exane lifted their price objective on shares of Seagate Technology from $430.00 to $530.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Cantor Fitzgerald increased their price target on Seagate Technology from $500.00 to $650.00 and gave the company an "overweight" rating in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Mizuho lifted their target price on Seagate Technology from $475.00 to $565.00 and gave the stock an "outperform" rating in a report on Friday, April 10th. Finally, UBS Group boosted their price target on shares of Seagate Technology from $385.00 to $440.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $494.13.

Seagate Technology Stock Performance

Seagate Technology stock traded up $11.94 during midday trading on Thursday, reaching $531.54. 2,561,757 shares of the stock traded hands, compared to its average volume of 4,105,722. Seagate Technology has a fifty-two week low of $72.62 and a fifty-two week high of $534.23. 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 market cap of $115.91 billion, a price-to-earnings ratio of 60.13, a PEG ratio of 1.16 and a beta of 1.61. The firm has a fifty day moving average price of $417.64 and a two-hundred day moving average price of $330.11.

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

Insider Activity

In other Seagate Technology news, EVP Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the sale, the chief executive officer directly owned 375,591 shares of the company's stock, valued at $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. Insiders sold a total of 112,223 shares of company stock valued at $46,711,217 in the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC bought a new position in Seagate Technology during the third quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership grew its position in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock worth $696,262,000 after acquiring an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Seagate Technology by 1,510.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank acquired a new position in shares of Seagate Technology during the 4th quarter worth $498,363,000. Finally, Soroban Capital Partners LP raised its holdings in shares of Seagate Technology by 1,468.1% during the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after purchasing an additional 1,327,197 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

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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