Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs boosted its Seagate price target to $700 (from $385) and kept a "buy" rating, while the analyst consensus is a "Moderate Buy" with an average target near $649.54, reflecting broad Wall Street optimism.
• Seagate delivered a strong Q3 beat (EPS $4.10 vs. $3.47; revenue $3.11B vs. $2.94B) and issued upbeat Q4 guidance (EPS $4.80–$5.20), citing continued AI/data‑center demand.
• Risks include a high valuation (elevated P/E) and very high debt‑to‑equity (~7.6), plus recent insider selling, which could magnify downside if AI demand or HAMR adoption disappoints.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price boosted by investment analysts at The Goldman Sachs Group from $385.00 to $700.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a "buy" rating on the data storage provider's stock. The Goldman Sachs Group's target price points to a potential upside of 4.16% from the stock's current price.

Several other equities analysts have also recently commented on the company. Robert W. Baird boosted their target price on Seagate Technology from $270.00 to $505.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Citigroup lifted their price target on Seagate Technology from $595.00 to $740.00 and gave the company a "buy" rating in a research report on Wednesday. Evercore boosted their price objective on Seagate Technology from $450.00 to $550.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. KeyCorp set a $500.00 price objective on shares of Seagate Technology in a research report on Wednesday, January 28th. Finally, TD Cowen lifted their target price on shares of Seagate Technology from $340.00 to $500.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $649.54.

Seagate Technology Stock Performance

NASDAQ STX opened at $672.05 on Wednesday. The company's 50 day simple moving average is $444.55 and its two-hundred day simple moving average is $351.81. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. Seagate Technology has a 1 year low of $85.47 and a 1 year high of $693.70. The stock has a market capitalization of $146.56 billion, a PE ratio of 75.67, a P/E/G ratio of 0.99 and a beta of 1.61.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.94 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business's revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Analysts predict that Seagate Technology will post 12.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 925 shares of the company's stock in a transaction dated 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 directly owned 223 shares in the company, valued at $99,908.46. This represents a 80.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $420.73, for a total value of $8,414,600.00. Following the transaction, the chief executive officer directly owned 355,591 shares in the company, valued at $149,607,801.43. This trade represents a 5.32% decrease in their ownership of the stock. 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 111,550 shares of company stock worth $46,476,441 over the last 90 days. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider's stock worth $610,000 after acquiring an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Seagate Technology in the second quarter valued at approximately $262,000. Cerity Partners LLC boosted its stake in shares of Seagate Technology by 25.8% during the second quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider's stock valued at $5,294,000 after purchasing an additional 7,517 shares during the period. Sei Investments Co. grew its holdings in shares of Seagate Technology by 64.8% in the second quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider's stock worth $1,233,000 after purchasing an additional 3,358 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Seagate Technology by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider's stock worth $18,458,000 after purchasing an additional 462 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Seagate Technology News

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.

Seagate Technology Company Profile

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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