Seagate Technology (NASDAQ:STX) Price Target Raised to $1,000.00 at Barclays

Key Points

• Barclays raised its price target on Seagate Technology to $1,000 from $750 and kept an overweight rating, implying about 15.9% upside from the current share price.
• Seagate’s latest earnings beat expectations, with EPS of $4.10 versus $3.51 expected and revenue of $3.11 billion versus $2.96 billion expected. Revenue jumped 44.1% year over year.
• Analyst sentiment remains broadly positive overall, with multiple firms lifting targets and the stock carrying a Moderate Buy consensus rating and average target price of $746.63.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price boosted by analysts at Barclays from $750.00 to $1,000.00 in a research report issued on Wednesday,MarketScreener reports. The firm presently has an "overweight" rating on the data storage provider's stock. Barclays's price objective would indicate a potential upside of 15.89% from the stock's current price.

A number of other research firms have also issued reports on STX. Robert W. Baird lifted their price objective on shares of Seagate Technology from $270.00 to $505.00 and gave the company an "outperform" rating in a research note on Thursday, January 29th. Argus raised their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, April 30th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Wedbush boosted their price objective on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Finally, Susquehanna raised their target price on Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $746.63.

Seagate Technology Stock Up 2.0%

Shares of NASDAQ STX opened at $862.90 on Wednesday. The stock has a fifty day moving average price of $583.93 and a 200 day moving average price of $420.46. The company has a market cap of $193.49 billion, a P/E ratio of 81.90 and a beta of 1.98. Seagate Technology has a 12-month low of $116.28 and a 12-month high of $875.87. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company's revenue was up 44.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts anticipate that Seagate Technology will post 14.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP John Christopher Morris sold 5,626 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total value of $1,211,243.80. Following the sale, the director directly owned 10,664 shares in the company, valued at approximately $8,175,129.04. This represents a 12.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 142,437 shares of company stock worth $86,093,575. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the business. Summitry LLC bought a new position in Seagate Technology in the first quarter worth about $211,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Seagate Technology in the 1st quarter worth approximately $322,000. Paragon Private Wealth Management LLC boosted its position in Seagate Technology by 12.6% during the 1st quarter. Paragon Private Wealth Management LLC now owns 7,678 shares of the data storage provider's stock valued at $3,008,000 after purchasing an additional 857 shares during the period. Edgestream Partners L.P. acquired a new position in Seagate Technology during the 1st quarter valued at approximately $215,000. Finally, Janus Henderson Group PLC grew its stake in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after buying an additional 943,170 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Company Profile

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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