Seagate Technology (NASDAQ:STX) Stock Price Up 7.9% on Analyst Upgrade

Key Points

• Shares jumped 7.9% after Argus raised its price target from $450 to $750, and several firms followed with big upgrades (Sanford C. Bernstein to $1,000, Wedbush to $825, Goldman to $700), leaving a consensus rating of "Moderate Buy" and an average target of $709.13.
• Seagate reported a strong quarter — Q3 EPS $4.10 vs. $3.51 expected and $3.11B revenue — and issued upbeat Q4 guidance (EPS 4.80–5.20), which analysts attribute to accelerating AI/data‑center storage demand.
• Downside risks remain: the stock trades at a rich valuation (PE ~68.97), insiders have recently sold shares, and analysts warn hyperscaler capex could peak, creating potential volatility despite bullish momentum.

Shares of Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) rose 7.9% during mid-day trading on Friday after Argus raised their price target on the stock from $450.00 to $750.00. Argus currently has a buy rating on the stock. Seagate Technology traded as high as $728.00 and last traded at $726.93. Approximately 7,319,714 shares changed hands during trading, an increase of 74% from the average daily volume of 4,203,439 shares. The stock had previously closed at $673.64.

Several other research firms also recently weighed in on STX. Sanford C. Bernstein lifted their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an "outperform" rating in a research report on Wednesday. Wedbush lifted their price objective on Seagate Technology from $700.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday. The Goldman Sachs Group boosted their price objective on Seagate Technology from $385.00 to $700.00 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 $500.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Susquehanna lifted their price target on shares of Seagate Technology from $485.00 to $615.00 and gave the company a "neutral" rating in a report on Wednesday. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average target price of $709.13.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 24,584 shares of Seagate Technology stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $406.77, for a total transaction of $10,000,033.68. Following the sale, the chief executive officer owned 375,591 shares in the company, valued at $152,779,151.07. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the company's 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. Over the last three months, insiders sold 90,430 shares of company stock worth $37,129,976. 0.79% of the stock is owned by insiders.

Seagate Technology News Roundup

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

• Positive Sentiment: Earnings and guidance beat — Seagate’s recent fiscal Q3 results surprised to the upside (strong EPS and revenue) and management set upbeat fiscal Q4 EPS guidance, which investors view as direct evidence of robust AI/data‑center demand. Seagate stock surges after Q3 earnings — why the rally may continue
• Positive Sentiment: Major price‑target upgrades — Sanford C. Bernstein raised its PT to $1,000 (outperform) and Argus boosted its PT to $750 (buy), signaling analyst conviction that Seagate will capture AI storage demand. Bernstein adjusts Seagate Technology price target to $1,000 Argus Research adjusts Seagate Technology PT to $750
• Positive Sentiment: Broader AI capex tailwinds — analyst notes and industry reports project much larger Big Tech AI spending, which should lift demand for storage, memory and data‑center infrastructure — a thematic tailwind for STX. Big Techs Assure Lasting AI Frenzy - Which Stocks Will Gain?
• Positive Sentiment: Product push for AI workflows — Seagate refreshed storage product lines aimed at high‑resolution media and AI workflows, reinforcing its positioning in AI infrastructure. Seagate launches refreshed storage lineup for AI workflows
• Neutral Sentiment: Investor chatter / “AI tokens” narrative — media pieces note speculative investor conversation around new AI-related buzzwords (e.g., “AI tokens”) tied to AI beneficiaries like Seagate; interesting for sentiment but more speculative than fundamental. Seagate Technology stock has everyone talking about AI tokens
• Neutral Sentiment: Celebrity/influencer mentions — Jim Cramer highlighted Seagate as a stock “working” amid tight supply/demand dynamics; boosts visibility but not a substitute for fundamentals. Jim Cramer Says “Seagate’s Been a Horse for Ages Now”
• Negative Sentiment: Valuation and cycle risk — several analysts and commentary warn STX is richly priced versus peers and that hyperscaler capex could peak, creating downside risk if AI spending normalizes. Investors cite elevated P/E and the danger of buying late in the capex cycle. Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle
• Negative Sentiment: Volatility among storage peers — peers like Western Digital and Sandisk have seen late pullbacks after AI‑driven rallies, highlighting profit‑taking risk and potential for short‑term swings in STX. Sandisk joins Western Digital, Seagate in signaling strong AI storage demand

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. WCM Investment Management LLC bought a new position in Seagate Technology during the third quarter valued at approximately $1,187,621,000. Arrowstreet Capital Limited Partnership increased its stake in 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 worth $696,262,000 after acquiring an additional 2,697,957 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock worth $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $498,363,000. Finally, Soroban Capital Partners LP boosted its position in shares of Seagate Technology by 1,468.1% during 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 acquiring an additional 1,327,197 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

The business's fifty day moving average is $454.23 and its two-hundred day moving average is $356.06. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The stock has a market capitalization of $158.52 billion, a PE ratio of 68.97, a price-to-earnings-growth ratio of 1.06 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 earnings per share (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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Seagate Technology's revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts anticipate that Seagate Technology Holdings PLC will post 12.26 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.4%. Seagate Technology's dividend payout ratio (DPR) is presently 33.48%.

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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