Seagate Technology (NASDAQ:STX) Trading Up 2.1% After Analyst Upgrade

Key Points

• Seagate Technology shares rose 2.1% after Citigroup raised its price target from $1,150 to $1,240 and kept a buy rating on the stock. The move came alongside broad analyst optimism, with multiple firms recently lifting their targets.
• Analyst sentiment around STX remains notably positive, with 22 buy ratings and five hold ratings and a consensus price target of $898.52. Recent upgrades from firms including Rosenblatt, Wedbush, Loop Capital, and Mizuho reflect expectations for stronger demand tied to AI and cloud storage.
• Despite the rally, the article highlights recent insider selling, including sales by CFO Gianluca Romano and CEO William D. Mosley. Over the past 90 days, insiders sold 151,069 shares worth about $126.2 million.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) shares rose 2.1% during trading on Tuesday after Citigroup raised their price target on the stock from $1,150.00 to $1,240.00. Citigroup currently has a buy rating on the stock. Seagate Technology traded as high as $906.30 and last traded at $878.31. 3,717,800 shares were traded during trading, a decline of 12% from the average daily volume of 4,241,542 shares. The stock had previously closed at $860.66.

A number of other equities research analysts also recently weighed in on STX. Rosenblatt Securities lifted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Wedbush raised their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. UBS Group lifted their price objective on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Loop Capital boosted their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Mizuho upped their target price on Seagate Technology from $875.00 to $1,090.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $898.52.

Insider Buying and Selling at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This represents a 34.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the transaction, the chief executive officer directly owned 339,591 shares of the company's stock, valued at approximately $255,131,322.39. The trade was a 8.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 151,069 shares of company stock worth $126,191,753. 0.79% of the stock is currently owned by company insiders.

Seagate Technology News Summary

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

• Positive Sentiment: Analysts remain constructive on Seagate’s long-term setup, with Wells Fargo upgrading the stock to Overweight and Citi raising its price target to $1,240, citing demand for high-capacity storage tied to cloud and AI infrastructure spending. Seagate Technology Holdings (STX) Gets A Wells Fargo Upgrade, Is It Still 5% Undervalued?
• Positive Sentiment: Seagate and other memory names are being highlighted as attractive after the recent sell-off because AI demand, improving pricing, and lower valuations could support a rebound. Why You Must Buy These 4 Memory Stocks After the Recent Sell-Off
• Neutral Sentiment: Investors are waiting for Seagate’s Q4 2026 earnings release to see whether strong AI and cloud storage demand can translate into another beat and solid guidance. What to expect from Seagate Technology’s Q4 2026 earnings report
• Neutral Sentiment: Seagate continues to position itself for AI storage growth and higher-capacity HDD expansion, which supports the long-term investment case but is still dependent on execution and demand trends. Seagate Technology (STX) Positions for AI Storage Growth Amid Cloud Demand and High-Capacity HDD Expansion - Share Repurchase Impact
• Negative Sentiment: STX has been pressured by a sector-wide pullback in memory and AI chip stocks after weak commentary from SK Hynix reignited worries about AI demand, inventory levels, and cloud capex, which has hurt sentiment across the storage group. Sandisk Just Had Its Price Target More Than Doubled by This Analyst. Why the Stock Is Falling.

Institutional Trading of Seagate Technology

Large investors have recently bought and sold shares of the stock. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $23,882,000. New York State Teachers Retirement System grew its position in Seagate Technology by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 187,044 shares of the data storage provider's stock worth $51,510,000 after acquiring an additional 8,991 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Seagate Technology by 1.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 518,806 shares of the data storage provider's stock valued at $142,874,000 after purchasing an additional 6,028 shares in the last quarter. Praxis Investment Management Inc. increased its holdings in Seagate Technology by 56.5% during the 4th quarter. Praxis Investment Management Inc. now owns 6,615 shares of the data storage provider's stock valued at $1,822,000 after purchasing an additional 2,389 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in Seagate Technology by 64.5% in the 4th quarter. Ritholtz Wealth Management now owns 21,321 shares of the data storage provider's stock valued at $5,872,000 after purchasing an additional 8,358 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 2.1%

The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $196.94 billion, a P/E ratio of 83.33 and a beta of 2.04. The company has a 50-day simple moving average of $884.34 and a 200-day simple moving average of $576.82.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business's revenue for the quarter was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, sell-side analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.3%. Seagate Technology's dividend payout ratio is currently 28.08%.

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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