Seagate Technology (NASDAQ:STX) Shares Up 4.7% on Analyst Upgrade

Key Points

• Seagate shares rose about 4.7% after Sanford C. Bernstein raised its price target to $1,000 (from $620), with mid-day trading peaking near $680.63 on above-average volume.
• The company beat Q3 expectations (EPS $4.10 vs. $3.47) and issued upbeat Q4 guidance, triggering a wave of analyst price-target increases as many cite sustained AI data-center demand; consensus is a "Moderate Buy" with a target near $696.63.
• Insiders have been selling recently—CEO William Mosley sold 24,584 shares for about $10.0M (a 6.14% cut in his stake) and insiders sold ~91,355 shares in the last 90 days—while institutional investors still own roughly 92.9% of the stock.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares shot up 4.7% during mid-day trading on Thursday after Sanford C. Bernstein raised their price target on the stock from $620.00 to $1,000.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $680.63 and last traded at $673.64. 6,346,881 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 4,162,977 shares. The stock had previously closed at $643.30.

Several other research analysts also recently issued reports on the company. TD Cowen upped their price objective on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup lifted their target price on shares of Seagate Technology from $595.00 to $740.00 and gave the stock a "buy" rating in a research report on Wednesday. Wedbush upped their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday. Susquehanna raised their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, China Renaissance lifted their target price on Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a report on Thursday, January 15th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $696.63.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 24,584 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the completion of the sale, the chief executive officer owned 375,591 shares of the company's stock, valued at $152,779,151.07. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $448.02, for a total value of $414,418.50. Following the completion of the sale, the director owned 223 shares of the company's stock, valued at approximately $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 91,355 shares of company stock valued at $37,544,394. Corporate insiders own 0.79% of the company's stock.

More Seagate Technology News

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

• Positive Sentiment: Q3 results and guidance: Seagate reported $4.10 EPS on $3.11B revenue (beats) and issued upbeat Q4 guidance (EPS $4.80–5.20; revenue $3.4B–$3.6B), which investors view as confirmation that AI data-center demand is driving stronger near-term sales and margins. Seagate Q3 Results (BusinessWire)
• Positive Sentiment: Wall Street re-rating: A wave of price-target increases (Bernstein, Rosenblatt, JPMorgan, Morgan Stanley, Cantor Fitzgerald, TD Cowen, BNP, etc.) followed the quarter — Bernstein raised its target to $1,000 — reinforcing the view that the company deserves a higher multiple on sustained AI demand. Bernstein raises Seagate PT to $1,000 (MarketScreener)
• Positive Sentiment: AI storage narrative & product momentum: Analysts and outlets highlight Seagate as a primary beneficiary of hyperscaler AI capex; the company also launched refreshed storage products aimed at high-resolution media and AI workflows. Product refresh (InsiderMonkey)
• Positive Sentiment: Sector rotation into HDD/“picks-and-shovels”: Market commentary shows an HDD trade rotation lifting Seagate and peers as investors pile into companies exposed to mass-capacity storage demand. HDD trade rotation (247WallSt)
• Neutral Sentiment: Dividend: Seagate declared a quarterly dividend of $0.74 per share (record June 24), a marginal support for yield-focused investors but not the main driver of today’s move.
• Negative Sentiment: Valuation and cycle risk: Several analysts and pieces warn the rally prices in peak hyperscaler capex — buying at the top of the industry capex cycle is a meaningful risk and could lead to downside if AI spending normalizes. Capex-cycle risk (Seeking Alpha)
• Negative Sentiment: Relative picks: Some commentators argue other AI-infrastructure names (e.g., Alphabet) may be more direct plays on AI capex, tempering the case for Seagate as the only way to play the trend. Alphabet vs Seagate (247WallSt)

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its stake in 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 purchasing an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Seagate Technology during the 2nd quarter worth about $262,000. Cerity Partners LLC grew its stake in shares of Seagate Technology by 25.8% in the 2nd 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 position in Seagate Technology by 64.8% in the 2nd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Seagate Technology by 0.4% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology Trading Up 4.7%

The business has a 50 day moving average of $448.93 and a two-hundred day moving average of $353.84. The firm has a market capitalization of $146.90 billion, a price-to-earnings ratio of 76.20, a P/E/G ratio of 0.99 and a beta of 1.61. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the firm posted $1.90 earnings per share. The company's revenue for the quarter 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. Equities analysts predict that Seagate Technology Holdings PLC will post 12.13 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, June 24th. Seagate Technology's payout ratio is 33.48%.

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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