Cantor Fitzgerald Increases Seagate Technology (NASDAQ:STX) Price Target to $280.00

Key Points

• Cantor Fitzgerald has raised the price target for Seagate Technology from $175.00 to $280.00, indicating a potential upside of 26.57% based on the stock's previous close.
• The stock currently has an average rating of "Moderate Buy" from analysts, with several firms recently adjusting their price targets upward.
• Seagate reported a quarterly earnings per share of $2.59, exceeding expectations and showing a year-over-year revenue increase of 29.5%.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective hoisted by equities researchers at Cantor Fitzgerald from $175.00 to $280.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the data storage provider's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 22.09% from the stock's previous close.

A number of other equities research analysts have also recently commented on STX. Wells Fargo & Company increased their target price on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Sanford C. Bernstein began coverage on Seagate Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price target on the stock. Barclays upped their price target on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. UBS Group upped their price target on Seagate Technology from $85.00 to $155.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Susquehanna upped 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. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $183.47.

Seagate Technology Price Performance

STX stock traded up $8.10 during midday trading on Monday, hitting $229.33. The stock had a trading volume of 5,239,989 shares, compared to its average volume of 3,680,065. The firm has a market cap of $48.84 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. The business has a 50-day moving average of $168.29 and a two-hundred day moving average of $127.03. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $230.82.

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

Insider Activity

In related news, EVP Ban Seng Teh sold 3,732 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $193.30, for a total transaction of $721,395.60. Following the transaction, the executive vice president directly owned 4,172 shares in the company, valued at $806,447.60. The trade was a 47.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Christopher Morris sold 377 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total value of $79,645.02. Following the completion of the transaction, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. This represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,935 shares of company stock worth $12,289,616 in the last three months. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently modified their holdings of STX. Salvus Wealth Management LLC raised its holdings in Seagate Technology by 2.0% in the 2nd quarter. Salvus Wealth Management LLC now owns 3,416 shares of the data storage provider's stock worth $493,000 after purchasing an additional 68 shares during the period. Asset Dedication LLC raised its holdings in shares of Seagate Technology by 9.5% during the second quarter. Asset Dedication LLC now owns 809 shares of the data storage provider's stock valued at $117,000 after acquiring an additional 70 shares during the last quarter. GoalVest Advisory LLC raised its holdings in shares of Seagate Technology by 30.6% during the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock valued at $46,000 after acquiring an additional 75 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in shares of Seagate Technology by 2.2% during the second quarter. Angeles Wealth Management LLC now owns 3,485 shares of the data storage provider's stock valued at $503,000 after acquiring an additional 76 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Seagate Technology by 3.3% during the second quarter. Bessemer Group Inc. now owns 2,502 shares of the data storage provider's stock valued at $361,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds 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.