Seagate Technology (NASDAQ:STX) Price Target Raised to $1,300.00 at Citigroup

Key Points

• Citigroup raised Seagate’s price target to $1,300 from $1,240 and maintained a “buy” rating, implying nearly 74% upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $923.
• Seagate reported a strong quarter, with EPS of $5.71 beating the $5.10 consensus and revenue of $3.63 billion rising 48.5% year over year. Its fiscal Q1 2027 guidance of $7.10–$7.50 EPS also exceeded analyst expectations, supported by AI and cloud data-center storage demand.
• Shares opened down 8.5% amid valuation concerns and potential profit-taking after a major run-up. Insiders sold approximately $126.2 million of stock over the past three months, while institutional investors own 92.87% of the company.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective upped by research analysts at Citigroup from $1,240.00 to $1,300.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the data storage provider's stock. Citigroup's price objective suggests a potential upside of 73.96% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. Mizuho boosted their price objective on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a report on Monday, June 8th. Zacks Research lowered Seagate Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research note on Wednesday, June 24th. Melius Research started coverage on shares of Seagate Technology in a research note on Monday, June 29th. They issued a "buy" rating and a $1,600.00 target price for the company. Finally, Bank of America increased their price objective on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $923.00.

Seagate Technology Stock Down 8.5%

Shares of NASDAQ STX opened at $747.30 on Wednesday. Seagate Technology has a 1 year low of $138.30 and a 1 year high of $1,145.00. The firm's 50-day moving average is $894.95 and its 200-day moving average is $618.98. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market capitalization of $167.57 billion, a PE ratio of 70.90 and a beta of 2.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.61. The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business's revenue for the quarter was up 48.5% on a year-over-year basis. During the same period last year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities analysts expect that Seagate Technology will post 14.14 EPS for the current year.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 30,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the transaction, the chief executive officer directly owned 339,591 shares of the company's stock, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares of the company's stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock valued at $126,191,753 over the last three months. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently modified their holdings of the business. Walker Asset Management LLC acquired a new position in Seagate Technology during the 2nd quarter worth approximately $338,000. Ballast Inc. acquired a new position in Seagate Technology in the 2nd quarter worth about $222,000. Regent Peak Wealth Advisors LLC bought a new position in Seagate Technology in the second quarter valued at about $354,000. Taylor & Morgan Wealth Management LLC raised its position in Seagate Technology by 8.8% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider's stock valued at $582,000 after purchasing an additional 49 shares during the last quarter. Finally, Nolet Wealth Management LLC acquired a new stake in shares of Seagate Technology during the second quarter valued at about $293,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Strong earnings beat: Seagate reported adjusted EPS of $5.71, above the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, topping expectations of approximately $3.50 billion. Net income increased to $1.29 billion from $488 million a year earlier. Seagate fiscal fourth-quarter results
• Positive Sentiment: Outlook materially exceeded estimates: Seagate forecast fiscal first-quarter 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, compared with analyst estimates of $3.7 billion and $5.63, respectively. The outlook reflects robust demand for high-capacity drives from cloud and AI data centers. Seagate AI-driven storage outlook
• Positive Sentiment: Improving cash generation and technology position: Management highlighted record fiscal 2026 profitability, 34% annual revenue growth and $3.1 billion in free cash flow. Its HAMR/Mozaic technologies are increasing drive capacity without requiring equivalent manufacturing expansion, supporting margins as AI storage demand grows.
• Neutral Sentiment: Dividend maintained: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The annualized yield is approximately 0.4%, making the payment supportive but modest relative to the stock’s valuation.
• Negative Sentiment: Valuation and profit-taking remain headwinds: STX had already more than doubled during the year and recently traded near its all-time high, leaving the shares vulnerable to a “sell-the-news” reaction even after the earnings beat. The broader pullback in AI and memory-related stocks may also be amplifying volatility.

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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