Seagate Technology (NASDAQ:STX) Now Covered by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase initiated coverage on Seagate (NASDAQ:STX) with an overweight rating and a $525 price target, implying roughly a 38% upside from the current share price.
• Analysts collectively rate Seagate a Moderate Buy with a consensus price target of about $450.58, following multiple recent upgrades (Loop Capital's $700 target is the highest reported).
• Seagate recently beat expectations with $3.11 EPS vs. $2.77 expected and $2.83B revenue (up 21.5% y/y), and provided Q3 2026 EPS guidance of 3.200–3.600.

JPMorgan Chase & Co. started coverage on shares of Seagate Technology (NASDAQ:STX - Get Free Report) in a research note issued to investors on Monday. The firm set an "overweight" rating and a $525.00 price target on the data storage provider's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 38.13% from the stock's current price.

STX has been the topic of several other research reports. Evercore lifted their target price on shares of Seagate Technology from $330.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, January 28th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Argus lifted their price objective on Seagate Technology from $300.00 to $450.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Loop Capital boosted their price objective on Seagate Technology from $465.00 to $700.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Finally, Morgan Stanley increased their target price on Seagate Technology from $337.00 to $372.00 and gave the company an "overweight" rating in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $450.58.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $380.07 on Monday. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $459.84. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The stock has a 50 day moving average price of $397.40 and a two-hundred day moving average price of $308.22. The stock has a market capitalization of $82.88 billion, a P/E ratio of 42.99, a PEG ratio of 0.85 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.34. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The company's quarterly revenue 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. Equities analysts expect that Seagate Technology will post 6.83 earnings per share for the current year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the firm's stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at approximately $1,367,560.68. This trade represents a 86.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total value of $10,000,033.68. Following the sale, the chief executive officer directly owned 375,591 shares in the company, valued at $152,779,151.07. The trade was a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,635 shares of company stock valued at $44,430,443 over the last quarter. Company insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STX. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after buying an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Concord Wealth Partners acquired a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Avion Wealth increased its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 79 shares during the period. Finally, Quarry LP bought a new stake in Seagate Technology in the fourth quarter valued at about $31,000. 92.87% of the stock is owned by 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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