Seagate Technology (NASDAQ:STX) Price Target Raised to $900.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on Seagate Technology from $700 to $900 while keeping an equal weight rating, implying a slight downside from the current share price.
• Analyst sentiment remains generally positive, with multiple firms recently lifting targets and several maintaining buy/overweight ratings; MarketBeat shows an average Moderate Buy rating and a $754.96 average target.
• Seagate reported strong quarterly results, beating EPS and revenue estimates, and the stock was trading near its 52-week high after a sharp run-up in the share price.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price upped by equities researchers at Wells Fargo & Company from $700.00 to $900.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the data storage provider's stock. Wells Fargo & Company's target price would suggest a potential downside of 1.02% from the stock's current price.

STX has been the topic of several other research reports. Jefferies Financial Group reiterated a "hold" rating on shares of Seagate Technology in a research note on Wednesday, February 4th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Wedbush boosted their target price on shares of Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Barclays boosted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. Finally, Rosenblatt Securities boosted their target price on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $754.96.

Seagate Technology Stock Up 3.3%

STX stock traded up $29.45 during mid-day trading on Monday, reaching $909.25. 1,361,953 shares of the company traded hands, compared to its average volume of 4,147,788. The stock has a market cap of $203.88 billion, a price-to-earnings ratio of 86.09 and a beta of 2.04. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology has a fifty-two week low of $116.78 and a fifty-two week high of $917.60. The firm's 50 day moving average price is $612.03 and its 200 day moving average price is $432.99.

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 analysts' consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the business earned $1.90 EPS. The company's revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts predict that Seagate Technology will post 14.1 EPS for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other news, EVP James Ci Lee sold 697 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $741.17, for a total transaction of $516,595.49. Following the completion of the sale, the executive vice president directly owned 324 shares in the company, valued at approximately $240,139.08. This represents a 68.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 1,902 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $770.00, for a total transaction of $1,464,540.00. Following the sale, the chief financial officer owned 40,945 shares of the company's stock, valued at approximately $31,527,650. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 122,437 shares of company stock valued at $78,398,375. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of STX. Salomon & Ludwin LLC raised its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its stake in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the fourth quarter worth about $28,000. Avion Wealth raised its stake in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares in the last quarter. Finally, Concord Wealth Partners bought a new position in Seagate Technology in the fourth quarter worth about $28,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Company Profile

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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