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

Key Points

• Citigroup raised its price target on Seagate Technology from $1,150 to $1,240 and kept a buy rating, implying about 44.9% upside from the current price.
• Wall Street remains broadly bullish on STX, with 22 analysts rating it a Buy and only five at Hold; the consensus target price is $898.52.
• Seagate recently beat earnings expectations, posting $4.10 EPS versus $3.51 expected and revenue of $3.11 billion, while also guiding Q4 2026 EPS to $4.80–$5.20.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price lifted by Citigroup from $1,150.00 to $1,240.00 in a note issued to investors on Monday. The brokerage presently has a "buy" rating on the data storage provider's stock. Citigroup's price target indicates a potential upside of 44.91% from the company's current price.

STX has been the subject of a number of other research reports. Melius Research assumed coverage on shares of Seagate Technology in a report on Monday, June 29th. They issued a "buy" rating and a $1,600.00 price target for the company. Morgan Stanley increased their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the company an "overweight" rating in a report on Monday, June 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. Wedbush upped their price target on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. raised their price objective on Seagate Technology from $775.00 to $920.00 and gave the company an "overweight" rating in a research note on Thursday, June 11th. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $898.52.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded down $54.61 during midday trading on Monday, hitting $855.73. The stock had a trading volume of 420,944 shares, compared to its average volume of 4,218,140. Seagate Technology has a 1 year low of $138.30 and a 1 year high of $1,145.00. 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 50 day moving average price of $880.60 and a two-hundred day moving average price of $572.75. The company has a market capitalization of $191.88 billion, a PE ratio of 81.16 and a beta of 2.04.

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 $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm earned $1.90 earnings per share. The firm'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 analysts predict that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Insider Activity at Seagate Technology

In related news, CFO Gianluca Romano sold 903 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $880.19, for a total value of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares in the company, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 989 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 151,069 shares of company stock valued at $126,191,753 over the last three months. Insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgewater Advisors Inc. raised its holdings in Seagate Technology by 0.9% in the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock valued at $579,000 after buying an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 worth $31,000 after buying an additional 15 shares during the period. Beaumont Financial Advisors LLC grew its stake 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 worth $321,000 after buying an additional 17 shares during the period. Cornerstone Wealth Group LLC increased its position in shares of Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after acquiring an additional 19 shares in the last quarter. Finally, WealthCollab LLC increased its position in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after acquiring an additional 20 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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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