Seagate Technology (NASDAQ:STX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Seagate from a "hold" to a "buy", joining multiple brokers that have raised price targets (notably Cantor Fitzgerald to $1,000, Barclays to $750 and Goldman to $700) and leaving the consensus as a Moderate Buy with a target around $709.13.
• Seagate posted a strong quarterly beat (EPS $4.10 vs. $3.51; revenue $3.11B vs. $2.96B), raised forward guidance and saw the stock surge as demand from AI data‑center spending lifts expectations for high‑performance storage.
• Investors should weigh upside against risks: Seagate trades at a rich valuation (P/E ~69) tied to the hyperscaler capex cycle that could slow, and insiders have sold material stock totals recently, which may signal caution.

Seagate Technology (NASDAQ:STX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other brokerages also recently issued reports on STX. Cantor Fitzgerald increased their price objective on Seagate Technology from $700.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday. KeyCorp set a $500.00 price objective on Seagate Technology in a research note on Wednesday, January 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Seagate Technology in a research note on Friday, March 27th. Barclays increased their price objective on Seagate Technology from $625.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price objective on Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $709.13.

Seagate Technology Trading Up 7.9%

NASDAQ:STX opened at $726.93 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. Seagate Technology has a 1-year low of $91.29 and a 1-year high of $728.00. The firm has a market capitalization of $158.52 billion, a price-to-earnings ratio of 68.97, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. The stock has a fifty day simple moving average of $454.23 and a 200 day simple moving average of $356.06.

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 for the quarter, beating analysts' consensus estimates of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.Seagate Technology's revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter last year, the company posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Sell-side analysts forecast that Seagate Technology will post 12.47 earnings per share for the current year.

Insider Transactions at Seagate Technology

In other news, EVP Kian Fatt Chong sold 5,846 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total transaction of $2,434,742.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $420.73, for a total value of $8,414,600.00. Following the sale, the chief executive officer directly owned 355,591 shares of the company's stock, valued at $149,607,801.43. This trade represents a 5.32% 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. Insiders have sold a total of 90,430 shares of company stock valued at $37,129,976 over the last ninety days. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC raised its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. Concord Wealth Partners purchased a new stake in shares of Seagate Technology during the 4th quarter worth about $28,000. McMillan Office Inc. bought a new position in shares of Seagate Technology in the 1st quarter valued at approximately $39,000. Finally, Avion Wealth raised its stake in shares of Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. 92.87% of the stock is 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 earnings beat and AI-driven guidance—Seagate reported a big EPS/revenue beat and raised forward outlook, which investors interpret as confirmation that AI data-center spending is lifting demand for high-performance HDD and enterprise storage. Seagate stock surges after Q3 earnings — why the rally may continue
• Positive Sentiment: Large price-target upgrades—Sanford C. Bernstein lifted its PT to $1,000 (outperform) and Argus bumped its PT to $750 (buy), signaling strong sell‑side conviction that STX will benefit from the AI capex cycle. Bernstein adjusts Seagate price target to $1,000 Argus raises Seagate PT to $750
• Positive Sentiment: Industry confirmation of AI storage demand—Peers (Sandisk, Western Digital) and multiple analyst notes say Big Tech will spend heavily on AI infrastructure through 2026, boosting demand for storage components. That macro tailwind is central to the bullish thesis for STX. Sandisk joins Western Digital, Seagate in signaling strong AI storage demand
• Positive Sentiment: High-profile endorsements and coverage—Jim Cramer and multiple analyst blogs are spotlighting Seagate as a direct beneficiary of constrained supply vs. booming demand for AI storage, attracting retail and institutional attention. Jim Cramer Says “Seagate’s Been a Horse for Ages Now”
• Neutral Sentiment: Company product/service news—Seagate refreshed storage product lines aimed at high-resolution media and AI workflows, reinforcing the growth story but not an immediate earnings surprise. Seagate launches refreshed storage lineup
• Neutral Sentiment: Sector volatility—After Seagate-led rallies, peers have shown volatile post-earnings trading (e.g., Sandisk/WDC slipped despite strong forecasts), highlighting event-driven swings even as structural demand remains. Red-Hot AI Stock Western Digital Slides Late Despite Earnings Beat
• Neutral Sentiment: Media/attention items—Stories on “AI tokens” and pieces asking whether it’s too late to buy reflect heightened retail interest and sentiment momentum, which can amplify moves but add noise. Seagate stock has everyone talking about AI tokens Is It Too Late To Consider Seagate After Its Recent AI Storage-Fueled Surge?
• Negative Sentiment: Valuation and cycle risk—Analyst commentaries warn Seagate may be trading at peak earnings multiples tied to a hyperscaler capex cycle that could slow after FY26/FY27; that raises downside risk if AI capex moderates. Seagate: The Biggest Risk Is Buying At The Top Of The Industry Capex Cycle

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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