Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup has increased its price target for Seagate Technology's stock from $215.00 to $250.00, indicating a potential upside of 13.94% from its current price.
• Seagate Technology reported strong quarterly earnings with an EPS of $2.59, surpassing analysts' estimates and demonstrating a revenue increase of 29.5% compared to the previous year.
• Consensus ratings for Seagate's stock include one Strong Buy, sixteen Buys, five Holds, and one Sell, contributing to an average price target of $214.89.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target increased by stock analysts at Citigroup from $215.00 to $250.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the data storage provider's stock. Citigroup's price objective indicates a potential upside of 13.94% from the stock's current price.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Seagate Technology from $170.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on Seagate Technology from $180.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Seagate Technology in a research report on Wednesday, October 8th. Sanford C. Bernstein began coverage on shares of Seagate Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 target price for the company. Finally, TD Cowen lifted their target price on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $214.89.

Seagate Technology Price Performance

STX stock traded up $5.04 during midday trading on Monday, reaching $219.42. The company had a trading volume of 1,912,241 shares, compared to its average volume of 3,979,510. The firm has a 50-day moving average price of $191.09 and a 200-day moving average price of $141.13. The company has a market capitalization of $46.73 billion, a P/E ratio of 32.45, a P/E/G ratio of 0.96 and a beta of 1.63. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm posted $1.05 EPS. The firm's revenue was up 29.5% compared to the same quarter last year. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, equities analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Insider Buying and Selling

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $150.50, for a total transaction of $376,250.00. Following the completion of the transaction, the director owned 352 shares of the company's stock, valued at $52,976. This represents a 87.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the transaction, the executive vice president directly owned 9,843 shares of the company's stock, valued at $1,927,259.40. This trade represents a 60.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,210 shares of company stock worth $14,146,016 in the last three months. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STX. Harbor Asset Planning Inc. bought a new position in Seagate Technology during the second quarter valued at $27,000. Rakuten Securities Inc. grew its position 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 acquiring an additional 168 shares in the last quarter. MTM Investment Management LLC bought a new stake in Seagate Technology during the second quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology during the first quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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