Seagate Technology (NASDAQ:STX) Price Target Raised to $615.00 at Susquehanna

Key Points

• Analyst re‑ratings and stock jump: Susquehanna raised its price target on Seagate to $615 (neutral) while other firms lifted targets as high as $1,000, helping shares surge about 16.8% to $676 and leaving the MarketBeat average target near $655.
• Strong quarter and upbeat guidance: Seagate beat Q3 estimates (EPS $4.10 vs. $3.47; revenue $3.11B) and issued robust Q4 guidance of $4.80–$5.20 EPS, citing continued AI/data‑center demand.
• Valuation and balance‑sheet risks: The rally leaves Seagate trading at a high P/E and a very elevated debt‑to‑equity ratio (~7.6), and insiders have sold shares recently, highlighting downside risk if demand or HAMR adoption disappoints.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target upped by equities research analysts at Susquehanna from $485.00 to $615.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the data storage provider's stock. Susquehanna's target price would suggest a potential downside of 9.03% from the stock's previous close.

Other research analysts also recently issued reports about the company. China Renaissance boosted their target price on Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a research note on Thursday, January 15th. The Goldman Sachs Group boosted their price target on Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday. Evercore boosted their price target on Seagate Technology from $450.00 to $550.00 and gave the company an "outperform" rating in a research note on Wednesday, April 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Finally, Rosenblatt Securities boosted their price target on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $654.96.

Seagate Technology Stock Up 16.8%

STX stock traded up $97.03 on Wednesday, hitting $676.06. 2,606,669 shares of the company's stock were exchanged, compared to its average volume of 4,011,871. Seagate Technology has a 12-month low of $85.47 and a 12-month high of $697.00. The firm has a 50 day moving average price of $444.55 and a two-hundred day moving average price of $351.81. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock has a market cap of $147.43 billion, a P/E ratio of 76.09, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.63. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business earned $1.90 EPS. The firm's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts expect that Seagate Technology will post 12.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total value of $8,414,600.00. Following the sale, the chief executive officer owned 355,591 shares in the company, valued at $149,607,801.43. This represents a 5.32% decrease in their ownership of the stock. The sale was disclosed in a 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 Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,550 shares of company stock worth $46,476,441 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently modified their holdings of the stock. Cornerstone Wealth Group LLC boosted its stake in shares of Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after buying an additional 19 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Seagate Technology by 1.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,399 shares of the data storage provider's stock worth $385,000 after buying an additional 25 shares during the last quarter. Trajan Wealth LLC boosted its stake in shares of Seagate Technology by 1.9% in the fourth quarter. Trajan Wealth LLC now owns 1,325 shares of the data storage provider's stock worth $365,000 after buying an additional 25 shares during the last quarter. TSG Advice Partners LLC boosted its stake in shares of Seagate Technology by 1.9% in the first quarter. TSG Advice Partners LLC now owns 1,448 shares of the data storage provider's stock worth $567,000 after buying an additional 27 shares during the last quarter. Finally, Fortis Capital Management LLC boosted its stake in shares of Seagate Technology by 1.1% in the fourth quarter. Fortis Capital Management LLC now owns 2,557 shares of the data storage provider's stock worth $704,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Q3 results materially beat expectations — EPS $4.10 vs. consensus ~$3.47 and revenue $3.11B vs. ~$2.94B; company reported record margins and roughly $1B of free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Very strong forward guidance — Q4 EPS guided to $4.80–$5.20 (street ~3.89) and revenue guided to $3.4–$3.6B — signaling continued AI/data‑center demand. Reuters: Seagate forecasts upbeat quarter
• Positive Sentiment: Wall Street is repricing the stock: Rosenblatt raised its price target to $1,000 (buy), and other firms (Wedbush, BofA, Cantor) have lifted targets to the $700 area — signaling big upside in analyst models. Rosenblatt price-target note
• Positive Sentiment: Sector lift: Seagate’s upbeat forecast helped lift storage peers and pushed storage stocks higher on expectations of sustained AI spending. Reuters: Storage stocks jump
• Neutral Sentiment: Board declared a quarterly dividend of $0.74/share (record June 24, payable July 7); yield ~0.5% — a small income signal but not a primary catalyst.
• Negative Sentiment: Risks and valuation — STX now trades with a high P/E (~65.5) and very high reported debt-to-equity (~7.6). Rapid re‑rating raises downside risk if AI/data‑center demand slows or HAMR adoption/timing disappoints.

About Seagate Technology

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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