Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Key Points

• Sanford C. Bernstein raised its Seagate price target to $1,000 from $620 and kept an "outperform" rating—implying roughly a 52% upside—while multiple other firms also bumped targets, leaving a consensus "Moderate Buy" with an average target near $696.63.
• Seagate beat Q3 expectations with $4.10 EPS (vs. $3.47 est.) and $3.11B revenue (+44% YoY) and set upbeat Q4 guidance ($4.80–$5.20 EPS), citing AI-driven demand, which triggered a strong stock and sector rally.
• Risks include a rich valuation (PE ~75), high debt-to-equity (~7.63), notable insider selling, and analyst warnings that the rally may price in peak hyperscaler capex that could reverse if AI spending normalizes.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective increased by analysts at Sanford C. Bernstein from $620.00 to $1,000.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm currently has an "outperform" rating on the data storage provider's stock. Sanford C. Bernstein's target price points to a potential upside of 51.92% from the company's current price.

STX has been the subject of several other research reports. Morgan Stanley increased their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the company an "overweight" rating in a research note on Wednesday. Mizuho increased their target price on shares of Seagate Technology from $565.00 to $700.00 and gave the company an "outperform" rating in a research note on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. KeyCorp set a $500.00 target price on shares of Seagate Technology in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Seagate Technology from $525.00 to $775.00 and gave the company an "overweight" rating in a research note on Wednesday. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $696.63.

Seagate Technology Stock Up 2.3%

Shares of NASDAQ STX traded up $14.95 during mid-day trading on Wednesday, reaching $658.25. The company had a trading volume of 1,505,120 shares, compared to its average volume of 4,099,867. Seagate Technology has a twelve month low of $89.89 and a twelve month high of $697.00. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The stock has a market capitalization of $143.55 billion, a PE ratio of 75.09, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61. The stock's 50 day moving average is $448.93 and its 200-day moving average is $353.84.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.63. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $2.94 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. Seagate Technology's revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities analysts anticipate that Seagate Technology will post 12.13 earnings per share for the current fiscal year.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of Seagate Technology stock in a transaction on Friday, January 30th. The shares were 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The SEC filing for this sale provides additional information. Insiders sold a total of 91,355 shares of company stock valued at $37,544,394 over the last quarter. Corporate insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently made changes to their positions in STX. WCM Investment Management LLC acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $1,187,621,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Seagate Technology by 1,072.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider's stock valued at $696,262,000 after buying an additional 2,697,957 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after buying an additional 1,883,769 shares during the period. Norges Bank acquired a new position in shares of Seagate Technology in the 4th quarter valued at $498,363,000. Finally, Soroban Capital Partners LP grew its holdings in shares of Seagate Technology by 1,468.1% in the 2nd quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock valued at $204,602,000 after buying an additional 1,327,197 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Q3 results beat and strong metrics — Seagate reported $4.10 EPS vs. consensus ~ $3.47 and revenue $3.11B (y/y +44%), with record margins and roughly $1B free cash flow; management signaled AI-driven demand lifted nearline shipments. BusinessWire: Q3 Results
• Positive Sentiment: Upbeat guidance — Seagate set Q4 EPS guidance of $4.80–$5.20 and revenue guidance ~$3.4–$3.6B, above Street expectations, a key driver of the rally. Reuters: Forecasts
• Positive Sentiment: Analyst bullishness and target hikes — Multiple firms (JPMorgan, Morgan Stanley, Barclays, Cantor/Rosenblatt and others) raised price targets and ratings, including several very large upside targets (Rosenblatt to $1,000). This broad analyst momentum amplified buying. TheStreet: Market Cap Move
• Positive Sentiment: Sector lift and market reaction — Storage peers jumped on Seagate’s outlook, and coverage noted a roughly $15B market‑cap swing as investors reprice Seagate as a direct AI‑infrastructure play. Reuters: Sector Reaction
• Neutral Sentiment: Dividend declared — Seagate announced a quarterly dividend of $0.74/share (small yield ~0.5%); modest for income investors but a signal of cash return policy. (Company release)
• Neutral Sentiment: Valuation/rotation commentary — Several market writeups now debate whether current valuation fully prices multi‑year AI tailwinds; some retail pieces ask “is it too late” after strong YTD gains. Yahoo: Valuation Discussion
• Negative Sentiment: Industry capex risk — A detailed bear/valuations view warns the rally may price peak hyperscaler capex into multiples and that buying at the top of a capex cycle carries downside if AI spending normalizes. Seeking Alpha: Capex Cycle Risk

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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