Seagate Technology (NASDAQ:STX) Price Target Raised to $235.00 at UBS Group

Key Points

• UBS Group raised its price target for Seagate Technology from $155.00 to $235.00, maintaining a "neutral" rating, suggesting an 8.41% potential upside from the current stock price.
• Other brokerages like Loop Capital and Morgan Stanley have set even higher targets, with Loop Capital increasing its target to $350.00 and Morgan Stanley to $265.00, indicating strong bullish sentiments.
• Seagate reported earnings of $2.59 per share for the last quarter, surpassing estimates, with revenue growth of 29.5% year-over-year, pointing to robust business performance.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price increased by equities research analysts at UBS Group from $155.00 to $235.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the data storage provider's stock. UBS Group's target price points to a potential upside of 8.41% from the stock's current price.

Several other brokerages also recently weighed in on STX. Loop Capital boosted their price target on Seagate Technology from $200.00 to $350.00 and gave the company a "buy" rating in a report on Thursday. Susquehanna boosted their price target on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Seagate Technology in a report on Wednesday, October 8th. Robert W. Baird boosted their price target on Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price target on Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $233.40.

Seagate Technology Stock Down 3.8%

Shares of STX traded down $8.63 during mid-day trading on Monday, reaching $216.77. 2,965,002 shares of the company's stock were exchanged, compared to its average volume of 3,993,687. The company has a 50-day simple moving average of $198.09 and a two-hundred day simple moving average of $145.96. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $264.83. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.01 and a beta of 1.63.

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

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 1,410 shares of the business's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $225.56, for a total transaction of $318,039.60. Following the completion of the sale, the executive vice president directly owned 18,041 shares of the company's stock, valued at $4,069,327.96. The trade was a 7.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James Ci Lee sold 1,116 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider directly owned 257 shares of the company's stock, valued at $39,413.52. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,620 shares of company stock worth $14,464,056. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

Institutional investors have recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. purchased a new stake in Seagate Technology during the 2nd quarter worth $27,000. Rakuten Securities Inc. boosted its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after purchasing an additional 168 shares during the period. MTM Investment Management LLC purchased a new stake in Seagate Technology during the 2nd quarter worth $29,000. GoalVest Advisory LLC boosted its position in Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock worth $46,000 after purchasing an additional 75 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Seagate Technology during the 1st quarter worth $31,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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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