Seagate Technology (NASDAQ:STX) Price Target Raised to $280.00

Key Points

• Mizuho raised its price target for Seagate Technology from $245 to $280, indicating a potential upside of 23.88% from the stock's previous close and maintaining an "outperform" rating.
• Seagate reported earnings of $2.59 per share for the last quarter, beating estimates and showing a year-over-year revenue increase of 29.5%.
• Various analysts have recently increased their price targets for Seagate, with estimates ranging from $250 to $350, reflecting positive sentiment in the market.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price upped by investment analysts at Mizuho from $245.00 to $280.00 in a report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the data storage provider's stock. Mizuho's target price suggests a potential upside of 23.88% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Wedbush lifted their target price on Seagate Technology from $175.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America lifted their target price on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Loop Capital boosted their price objective on Seagate Technology from $200.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday. Zacks Research raised Seagate Technology from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 2nd. Finally, Benchmark upped their target price on Seagate Technology from $165.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.40.

Seagate Technology Stock Performance

STX stock opened at $226.03 on Friday. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $264.83. The company's 50-day simple moving average is $196.59 and its 200 day simple moving average is $144.06. The company has a market capitalization of $48.14 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 0.98 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion during 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%. The firm's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, analysts forecast that Seagate Technology will post 6.83 EPS for the current year.

Insider Activity

In related news, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. This trade represents a 60.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of Seagate Technology stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at $52,976. This represents a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,620 shares of company stock worth $14,464,056 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fulton Breakefield Broenniman LLC bought a new stake in shares of Seagate Technology during the 3rd quarter worth about $247,000. Burney Co. increased its holdings in Seagate Technology by 48.7% in the 3rd quarter. Burney Co. now owns 5,303 shares of the data storage provider's stock valued at $1,252,000 after buying an additional 1,737 shares during the period. Asio Capital LLC acquired a new position in Seagate Technology during the 3rd quarter worth about $212,000. Whitaker Myers Wealth Managers LTD. acquired a new position in Seagate Technology during the 3rd quarter valued at about $914,000. Finally, Yeomans Consulting Group Inc. acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $453,000. 92.87% of the stock is currently owned by 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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