Seagate Technology (NASDAQ:STX) Shares Gap Up After Analyst Upgrade

Key Points

• Seagate shares gapped up after Susquehanna raised its price target from $615 to $775, though the firm kept a neutral rating. The stock opened sharply higher and last traded around $934, reflecting strong investor reaction.
• Other analysts have also lifted their targets, with several maintaining buy ratings and MarketBeat showing a consensus of Moderate Buy with a target price of $886.92. This points to broad optimism around Seagate despite some caution on valuation.
• Recent company news remains supportive: Seagate beat quarterly earnings and revenue estimates, raised its Q4 2026 guidance, and continues to benefit from AI-storage and hyperscaler demand. However, insider selling and the stock’s big run-up suggest some profit-taking and valuation concerns.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) gapped up prior to trading on Thursday after Susquehanna raised their price target on the stock from $615.00 to $775.00. The stock had previously closed at $860.02, but opened at $922.29. Susquehanna currently has a neutral rating on the stock. Seagate Technology shares last traded at $934.1370, with a volume of 920,491 shares traded.

Several other equities research analysts have also issued reports on the stock. Argus raised their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Loop Capital increased their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a report on Friday, May 15th. Bank of America raised their target price on Seagate Technology from $1,000.00 to $1,150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Rosenblatt Securities boosted their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company increased their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Twenty-one analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $886.92.

Insider Activity

In related news, CEO William D. Mosley sold 30,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the sale, the chief executive officer owned 339,591 shares in the company, valued at approximately $255,131,322.39. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the sale, the executive vice president directly owned 3,691 shares of the company's stock, valued at $3,016,580.48. This represents a 68.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate is rebounding along with the rest of the memory and storage sector as investors buy the dip following this week’s selloff. Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
• Positive Sentiment: Multiple research notes are reinforcing the bullish AI-storage narrative, with Seagate highlighted as a momentum stock and a beneficiary of hyperscaler storage demand. Micron & 2 Momentum Stocks to Buy in July for Explosive Upside
• Positive Sentiment: Seagate is being viewed as a strong earnings candidate, with articles pointing to a history of upside surprises and expectations for another beat in the next report. Will Seagate (STX) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Susquehanna raised its price target on Seagate to $775 but kept a neutral rating, which signals confidence in the story while also suggesting the stock may already be fairly valued at recent levels. Seagate Technology NASDAQ: STX Given New $775.00 Price Target at Susquehanna
• Neutral Sentiment: Coverage pieces continue to frame Seagate as a high-momentum AI infrastructure winner, but also note that the stock’s large run-up has pushed valuation higher, limiting upside if growth cools. Seagate’s 485% Run Isn’t Over and Our Target Proves It

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors have recently made changes to their positions in STX. Bridgewater Advisors Inc. lifted its holdings in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock worth $579,000 after acquiring an additional 13 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock valued at $31,000 after purchasing an additional 15 shares in the last quarter. Beaumont Financial Advisors LLC raised its position in Seagate Technology by 2.1% during the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock valued at $321,000 after purchasing an additional 17 shares in the last quarter. Cornerstone Wealth Group LLC lifted its stake in Seagate Technology by 0.5% during the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after purchasing an additional 19 shares during the last quarter. Finally, WealthCollab LLC boosted its holdings in shares of Seagate Technology by 27.4% in the 1st quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $206.67 billion, a PE ratio of 87.20 and a beta of 2.04. The business has a fifty day moving average price of $869.04 and a 200-day moving average price of $564.15.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts expect that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. Seagate Technology's dividend payout ratio (DPR) is 28.08%.

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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