Seagate Technology (NASDAQ:STX) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• Shares of Seagate reached a new 52-week high after Citigroup raised its price target to $595 and kept a Buy rating; the stock traded as high as $522.80 and last around $505.79 on the move.
• Numerous analysts raised targets (e.g., Loop Capital to $700, Cantor Fitzgerald to $650), with 19 analysts rating the stock Buy versus six Hold and a consensus rating of Moderate Buy and a $491 consensus price target.
• Seagate beat quarterly estimates (EPS $3.11 vs. $2.77, revenue +21.5% y/y), set Q3 guidance of 3.200–3.600 EPS, and has shifted strategy—selling Lyve Cloud to Wasabi—to double down on high-capacity HDDs amid AI-driven capacity demand and stronger storage pricing.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) reached a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $480.00 to $595.00. Citigroup currently has a buy rating on the stock. Seagate Technology traded as high as $522.80 and last traded at $505.7920, with a volume of 300349 shares trading hands. The stock had previously closed at $513.28.

Other research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Loop Capital boosted their price target on Seagate Technology from $465.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Rosenblatt Securities boosted their price target on Seagate Technology from $370.00 to $500.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. China Renaissance boosted their price target on Seagate Technology from $325.00 to $452.00 and gave the company a "buy" rating in a research note on Thursday, January 15th. Finally, Cantor Fitzgerald boosted their price target on Seagate Technology from $500.00 to $650.00 and gave the company an "overweight" rating in a research note on Wednesday, February 4th. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $491.00.

Insider Activity

In other Seagate Technology news, EVP James Ci Lee sold 673 shares of the business's stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president owned 257 shares of the company's stock, valued at approximately $89,654.45. The trade was a 72.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 20,195 shares of the business's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president directly owned 3,092 shares of the company's stock, valued at approximately $1,367,560.68. The trade was a 86.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 112,223 shares of company stock valued at $46,711,217. Corporate insiders own 0.79% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Citi raised Seagate’s price target sharply to $595 and reaffirmed a Buy rating, citing stronger storage pricing and AI-driven demand for capacity, which supports upside expectations. Citi Raises Seagate and Western Digital Targets as AI Data Demand Supercharges Storage Pricing
• Positive Sentiment: Roundhill’s new DRAM ETF aims to capitalize on AI-driven memory and storage demand; coverage that includes STX can drive incremental investor interest and flows into storage/AI supply-chain names. This New ETF Aims to Capitalize on Surging AI Memory Chip Demand (STX)
• Positive Sentiment: Seagate sold its Lyve Cloud business to Wasabi and took a stake in Wasabi, exiting direct cloud operations to refocus on core HDD capacity technologies (including HAMR/Mozaic). The move signals management doubling down on the high-demand mass-capacity market that’s benefiting from AI and hyperscale spend. Seagate Sells Lyve Cloud To Wasabi And Doubles Down On HDD Growth
• Neutral Sentiment: Separate outlets reported additional price-target changes: one note shows a raise to $565 and another to $485; multiple analyst revisions increase visibility but the spread in targets creates mixed signals about near-term upside vs. current levels. Seagate Technology NASDAQ: STX Price Target Raised to $565.00 Seagate Technology NASDAQ: STX Price Target Raised to $485.00
• Neutral Sentiment: Preview pieces on Seagate’s upcoming earnings outline expectations around continued revenue and margin strength from elevated storage pricing and guide-watch for management commentary on capacity demand and capital returns — useful background but not a catalyst on its own. Here's what to expect from Seagate Technology's next earnings report
• Negative Sentiment: Comparisons with Western Digital highlight that WDC has outperformed Seagate in the current AI-driven storage boom, citing stronger gains, lower valuation and better capital returns — a reminder of relative-risk and that investor preference could favor peers. Seagate vs. Western Digital: Which HDD Leader Should Investors Pick? Seagate vs. Western Digital: Which HDD Leader Should Investors Pick?

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STX. Integrated Wealth Concepts LLC increased its stake in shares of Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock valued at $610,000 after buying an additional 4,499 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Seagate Technology in the second quarter valued at approximately $262,000. Cerity Partners LLC increased its stake in shares of Seagate Technology by 25.8% in the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after buying an additional 7,517 shares during the period. Sei Investments Co. increased its stake in shares of Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock valued at $1,233,000 after buying an additional 3,358 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock valued at $18,458,000 after buying an additional 462 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Price Performance

The company has a 50 day moving average price of $413.84 and a 200-day moving average price of $326.56. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The company has a market cap of $110.67 billion, a price-to-earnings ratio of 57.26, a P/E/G ratio of 1.09 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The firm's revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 25th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $2.96 annualized dividend and a dividend yield of 0.6%. Seagate Technology's dividend payout ratio is currently 33.48%.

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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