Seagate Technology's (STX) Buy (B-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "buy (B-)" rating for Seagate Technology, highlighting confidence in the firm's investment potential amidst strong market performance.
• Several equity analysts have raised their price targets for Seagate stock significantly, with Cantor Fitzgerald increasing it to $280.00, reflecting optimism about the company's growth prospects.
• Seagate's latest quarterly earnings exceeded expectations, reporting $2.59 earnings per share and a revenue of $2.44 billion, showing a year-over-year revenue increase of 29.5%.

Seagate Technology (NASDAQ:STX - Get Free Report)'s stock had its "buy (b-)" rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on STX. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $175.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Citigroup upped their price target on shares of Seagate Technology from $167.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, September 8th. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $170.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Seagate Technology from $168.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Finally, Benchmark upped their price target on shares of Seagate Technology from $165.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.58.

Seagate Technology Price Performance

Shares of STX opened at $224.35 on Wednesday. The firm has a market capitalization of $47.78 billion, a PE ratio of 33.14, a PEG ratio of 1.01 and a beta of 1.63. The company's 50-day moving average is $188.61 and its 200-day moving average is $138.61. Seagate Technology has a fifty-two week low of $63.19 and a fifty-two week high of $264.83.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company's revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. Analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Activity

In other Seagate Technology news, EVP John Christopher Morris sold 377 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $211.26, for a total transaction of $79,645.02. Following the sale, the executive vice president directly owned 13,238 shares in the company, valued at $2,796,659.88. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at $52,976. The trade was a 87.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,935 shares of company stock valued at $14,394,416. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. JPMorgan Chase & Co. boosted its stake in shares of Seagate Technology by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after purchasing an additional 2,161,191 shares in the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $197,027,000. Boston Partners acquired a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $193,500,000. Soroban Capital Partners LP boosted its position in 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 worth $204,602,000 after buying an additional 1,327,197 shares during the period. Finally, Wellington Management Group LLP boosted its position in Seagate Technology by 3,339.4% during the 1st quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock worth $79,343,000 after buying an additional 906,840 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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