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

Key Points

• Morgan Stanley raised its price target on Seagate to $767 and kept an "overweight" rating, joining other firms that have pushed targets (Rosenblatt to $1,000), signaling substantial analyst-driven upside vs. the recent share price.
• Q3 results and guidance beat expectations—EPS $4.10 vs. $3.47 consensus and revenue $3.11B—and Seagate guided Q4 to $4.80–$5.20 EPS, citing strong AI/data‑center demand, which helped the stock rally about 16%.
• Risks remain: the shares trade at an elevated valuation (P/E in the mid‑60s–75 range) with very high leverage (debt/equity ~7.6) and notable insider selling, creating downside vulnerability if demand or HAMR timing disappoints.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price upped by stock analysts at Morgan Stanley from $582.00 to $767.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm presently has an "overweight" rating on the data storage provider's stock. Morgan Stanley's price objective indicates a potential upside of 14.13% from the stock's previous close.

STX has been the subject of a number of other reports. Barclays upgraded shares of Seagate Technology from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $425.00 to $625.00 in a report on Wednesday, April 22nd. China Renaissance raised their target price on shares of Seagate Technology from $325.00 to $452.00 and gave the stock a "buy" rating in a research report on Thursday, January 15th. Robert W. Baird lifted their target price on shares of Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research note on Thursday, January 29th. Rosenblatt Securities boosted their price target on Seagate Technology from $500.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Loop Capital increased their target price on Seagate Technology from $700.00 to $800.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $649.54.

Seagate Technology Stock Up 16.1%

Shares of NASDAQ:STX opened at $672.05 on Wednesday. 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 capitalization of $146.56 billion, a P/E ratio of 75.67, a P/E/G ratio of 0.99 and a beta of 1.61. Seagate Technology has a 52-week low of $85.47 and a 52-week high of $693.70. The stock's fifty day simple moving average is $444.55 and its 200-day simple moving average is $351.81.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping 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 business posted $1.90 EPS. The firm's quarterly 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 research analysts forecast that Seagate Technology will post 12.13 earnings per share for the current fiscal year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $448.02, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kian Fatt Chong sold 5,846 shares of the company's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 111,550 shares of company stock valued at $46,476,441. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Canvas Wealth Advisors LLC acquired a new stake in Seagate Technology during the 1st quarter worth approximately $244,000. Walser Wealth Management Company A Ltd Liability Co purchased a new position in Seagate Technology in the first quarter valued at approximately $248,000. Kathmere Capital Management LLC lifted its position in Seagate Technology by 47.6% during the first quarter. Kathmere Capital Management LLC now owns 3,451 shares of the data storage provider's stock valued at $1,352,000 after buying an additional 1,113 shares in the last quarter. Abel Hall LLC grew its stake in Seagate Technology by 11.3% during the first quarter. Abel Hall LLC now owns 988 shares of the data storage provider's stock worth $387,000 after buying an additional 100 shares during the period. Finally, DGS Capital Management LLC grew its stake in Seagate Technology by 52.0% during the first quarter. DGS Capital Management LLC now owns 2,052 shares of the data storage provider's stock worth $804,000 after buying an additional 702 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology News Summary

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

• Positive Sentiment: Q3 results materially beat expectations — EPS $4.10 vs. consensus ~$3.47 and revenue $3.11B vs. ~$2.94B; company reported record margins and roughly $1B of free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Very strong forward guidance — Q4 EPS guided to $4.80–$5.20 (street ~3.89) and revenue guided to $3.4–$3.6B — signaling continued AI/data‑center demand. Reuters: Seagate forecasts upbeat quarter
• Positive Sentiment: Wall Street is repricing the stock: Rosenblatt raised its price target to $1,000 (buy), and other firms (Wedbush, BofA, Cantor) have lifted targets to the $700 area — signaling big upside in analyst models. Rosenblatt price-target note
• Positive Sentiment: Sector lift: Seagate’s upbeat forecast helped lift storage peers and pushed storage stocks higher on expectations of sustained AI spending. Reuters: Storage stocks jump
• Neutral Sentiment: Board declared a quarterly dividend of $0.74/share (record June 24, payable July 7); yield ~0.5% — a small income signal but not a primary catalyst.
• Negative Sentiment: Risks and valuation — STX now trades with a high P/E (~65.5) and very high reported debt-to-equity (~7.6). Rapid re‑rating raises downside risk if AI/data‑center demand slows or HAMR adoption/timing disappoints.

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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