Seagate Technology (NASDAQ:STX) Trading 1.6% Higher After Analyst Upgrade

Key Points

• Shares rose about 1.6% intraday after Bank of America raised its price target from $605 to $700 while maintaining a buy rating, with the stock trading near $603 on lighter-than-average volume.
• Multiple brokerages also lifted targets—citing structural HDD supply tightness, the commercial ramp of HAMR technology and strong AI/data‑center demand—leaving a MarketBeat consensus of "Moderate Buy" and an average price target of $522.25 (20 Buys, 5 Holds).
• Insiders have sold a total of $46.48M of stock in the past three months and insiders now own just 0.79%, and the shares trade at a rich valuation (P/E ~67), which could amplify downside risk if upcoming earnings or guidance disappoint.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares traded up 1.6% during mid-day trading on Monday after Bank of America raised their price target on the stock from $605.00 to $700.00. Bank of America currently has a buy rating on the stock. Seagate Technology traded as high as $602.91 and last traded at $595.86. 2,837,621 shares were traded during mid-day trading, a decline of 30% from the average session volume of 4,027,406 shares. The stock had previously closed at $586.25.

A number of other analysts have also issued reports on STX. Rosenblatt Securities increased their target price on Seagate Technology from $370.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. China Renaissance increased their target price on Seagate Technology from $325.00 to $452.00 and gave the company a "buy" rating in a report on Thursday, January 15th. Susquehanna increased their target price on Seagate Technology from $420.00 to $485.00 and gave the company a "neutral" rating in a report on Friday, April 10th. Weiss Ratings restated a "buy (b)" rating on shares of Seagate Technology in a report on Friday, March 27th. Finally, UBS Group increased their target price on Seagate Technology from $440.00 to $515.00 and gave the company a "neutral" rating in a report on Tuesday, April 21st. 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $522.25.

Insider Transactions at Seagate Technology

In related news, EVP Kian Fatt Chong sold 5,846 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $442.29, for a total value of $8,932,046.55. Following the sale, the executive vice president owned 3,092 shares of the company's stock, valued at approximately $1,367,560.68. This represents a 86.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,550 shares of company stock valued at $46,476,441 in the last three months. 0.79% of the stock is currently owned by insiders.

Key Seagate Technology News

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

• Positive Sentiment: Major brokerages raised Seagate price targets to $700, citing a structural HDD supply tightness and the commercial ramp of HAMR technology — a direct bullish catalyst for revenue and margin upside. Seagate Price Target Soars to $700 at BofA and Cantor Fitzgerald
• Positive Sentiment: Bank of America and other firms raised price objectives for Seagate (and peers), asserting a clear path to higher earnings driven by AI/data‑center demand — this analyst backing supports near-term buying interest. Western Digital, Seagate maintain clear path to higher earnings; BofA ups price objectives
• Positive Sentiment: Press coverage highlights that demand from AI workloads continues to outpace supply, supporting expectations that Seagate and peers can sustain revenue and margin momentum into upcoming earnings. Seagate, Western Digital Earnings Are Coming. Why the Storage Boom Can Continue.
• Neutral Sentiment: Broader sector pieces note that memory and storage stocks have rallied this year and that upcoming earnings could extend the move — helpful context but not company‑specific news. Data Storage Stocks Have Had a Great Year So Far. It Could Be About to Get Better.
• Neutral Sentiment: Multiple “earnings to watch” previews remind investors that Seagate reports results this week — these items increase short‑term volatility potential as the market focuses on beat/guide details. Earnings To Watch: Seagate (STX) Reports Q1 Results Tomorrow
• Negative Sentiment: Analyst notes that Seagate is likely to beat near-term estimates thanks to booked nearline and AI demand, but several outlets warn the stock’s high valuation could limit further upside and raise downside risk if guidance disappoints. STX Likely to Beat Q3 Earnings Estimates: How to Approach the Stock Now?

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently modified their holdings of STX. Salomon & Ludwin LLC increased its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after buying an additional 51 shares during the last quarter. Rakuten Securities Inc. increased its position in Seagate Technology by 884.2% during the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology during the fourth quarter worth $28,000. Avion Wealth increased its position in Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider's stock worth $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners acquired a new position in Seagate Technology during the fourth quarter worth $28,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

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 stock has a market capitalization of $129.94 billion, a price-to-earnings ratio of 67.41, a P/E/G ratio of 0.97 and a beta of 1.61. The company's 50-day simple moving average is $437.89 and its 200 day simple moving average is $346.60.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The business's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Equities research analysts forecast that Seagate Technology Holdings PLC will post 12.13 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 25th. Seagate Technology's dividend payout ratio is presently 33.48%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.