Seagate Technology (NASDAQ:STX) Price Target Raised to $215.00

Key Points

• Citigroup has raised its price target for Seagate Technology from $167.00 to $215.00, indicating a potential upside of 13.71% from the current price.
• Despite the positive outlook from Citigroup, other analysts have issued mixed ratings, with 14 ratings for 'Buy', 5 for 'Hold', and 1 for 'Sell'.
• Seagate Technology recently announced a $5.00 billion share buyback plan, suggesting that the leadership believes the stock is undervalued.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective hoisted by stock analysts at Citigroup from $167.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the data storage provider's stock. Citigroup's price target would indicate a potential upside of 13.71% from the company's current price.

Other equities analysts have also issued reports about the stock. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Susquehanna upped their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a report on Wednesday, July 30th. Barclays upped their price objective on shares of Seagate Technology from $125.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, August 28th. TD Cowen upped their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, UBS Group upped their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

Seagate Technology Stock Up 0.5%

NASDAQ:STX traded up $0.92 on Monday, hitting $189.08. The stock had a trading volume of 607,249 shares, compared to its average volume of 3,844,170. The stock has a market cap of $40.21 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.16 and a beta of 1.53. The company has a fifty day moving average price of $155.22 and a two-hundred day moving average price of $118.61. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $191.52.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology's revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, analysts anticipate that Seagate Technology will post 6.83 earnings per share for the current year.

Seagate Technology declared that its Board of Directors has initiated a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the transaction, the director directly owned 352 shares in the company, valued at approximately $52,976. This trade represents a 87.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ban Seng Teh sold 5,905 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $155.00, for a total transaction of $915,275.00. Following the completion of the sale, the executive vice president directly owned 6,147 shares in the company, valued at $952,785. This represents a 49.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,078 shares of company stock valued at $8,561,503. Insiders own 0.81% of the company's stock.

Institutional Trading of Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. bought a new stake in Seagate Technology during the second quarter valued at $27,000. Rakuten Securities Inc. grew its position in shares of Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after acquiring an additional 168 shares during the last quarter. MTM Investment Management LLC bought a new position in shares of Seagate Technology during the second quarter worth about $29,000. Ameriflex Group Inc. bought a new position in shares of Seagate Technology during the fourth quarter worth about $26,000. Finally, Elequin Capital LP bought a new position in shares of Seagate Technology during the fourth quarter worth about $27,000. Institutional investors own 92.87% of the company's stock.

About Seagate Technology

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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