Seagate Technology (NASDAQ:STX) Stock Price Up 11.4% After Analyst Upgrade

Key Points

• Seagate shares rose 11.4% after Barclays raised its price target from $1,000 to $1,250 and maintained an overweight rating. The stock reached $901.18, with trading volume 65% above its average.
• Seagate reported stronger-than-expected quarterly results, with EPS of $5.71 and revenue of $3.63 billion, while revenue increased 48.5% year over year. Its fiscal first-quarter 2027 guidance also exceeded Wall Street expectations, driven by robust AI-related cloud storage demand.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and average target price of $986, but valuation and execution risks remain after the stock’s substantial rally. Company insiders have sold approximately $126.2 million of shares over the past 90 days.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) were up 11.4% during trading on Thursday after Barclays raised their price target on the stock from $1,000.00 to $1,250.00. Barclays currently has an overweight rating on the stock. Seagate Technology traded as high as $901.18 and last traded at $851.68. 7,289,808 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 4,405,921 shares. The stock had previously closed at $764.43.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a research report on Wednesday, June 24th. UBS Group raised their price objective on Seagate Technology from $515.00 to $545.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Citigroup increased their target price on shares of Seagate Technology from $1,240.00 to $1,300.00 and gave the company a "buy" rating in a research note on Wednesday. Rosenblatt Securities raised their target price on shares of Seagate Technology from $1,300.00 to $1,400.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, China Renaissance raised their price target on Seagate Technology from $802.00 to $983.00 in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $986.00.

Insider Buying and Selling

In related news, CFO Gianluca Romano sold 903 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the sale, the chief financial officer directly owned 42,860 shares in the company, valued at $37,724,943.40. This represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John Christopher Morris sold 1,364 shares of the business's 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 $1,200,579.16. Following the transaction, the executive vice president owned 12,088 shares of the company's stock, valued at approximately $10,639,736.72. This trade represents a 10.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 151,069 shares of company stock valued at $126,191,753. Company insiders own 0.79% of the company's stock.

More Seagate Technology News

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

• Positive Sentiment: Results substantially exceeded expectations. Seagate reported non-GAAP EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion versus $3.50 billion. Revenue grew 48.5% year over year, while net income, margins and free cash flow reached record levels. Seagate Technology Reports Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Guidance pointed to continued earnings momentum. Fiscal first-quarter 2027 EPS guidance of $7.10–$7.50 and revenue guidance of $4.0–$4.2 billion were well above Wall Street expectations, reinforcing confidence in demand and pricing power. Seagate forecasts upbeat quarter on strong AI-driven storage demand
• Positive Sentiment: AI-related storage demand is the primary growth catalyst. Cloud customers are reserving high-capacity nearline drives, with supply reportedly allocated through 2028. Seagate’s Mozaic and heat-assisted magnetic recording (HAMR) technologies, including drives reaching up to 44TB, could support higher capacity, operating leverage and cash generation. How Seagate’s HAMR Shift Is Driving the Next AI Storage Growth Wave
• Positive Sentiment: Analyst sentiment strengthened. Argus, Barclays, JPMorgan, Wells Fargo, TD Cowen, Wedbush, Citi and Rosenblatt all raised price targets, while Zacks upgraded STX to “strong buy.” Is STX Stock Still Attractive After Its Massive 2026 Price Rally?
• Neutral Sentiment: Seagate also declared a quarterly dividend of $0.74 per share, providing a modest income component.
• Negative Sentiment: Valuation and execution risks remain. After a substantial 2026 rally, STX trades at a premium valuation, leaving less room for slower AI spending, supply disruptions or difficulties ramping HAMR and meeting elevated expectations. Valuation risks

Institutional Trading of Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position 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 purchasing an additional 15 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares during the last quarter. WealthCollab LLC lifted 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 valued at $36,000 after acquiring an additional 20 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Seagate Technology in the first quarter valued at about $39,000. Finally, Concord Wealth Partners acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

The stock has a market cap of $190.97 billion, a PE ratio of 61.36 and a beta of 2.04. The stock's fifty day moving average is $895.22 and its 200-day moving average is $622.36. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 26.11% and a return on equity of 680.78%. Seagate Technology's quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings PLC will post 26.84 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Thursday, September 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, September 24th. Seagate Technology's payout ratio is presently 21.33%.

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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