Susquehanna Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Key Points

• Susquehanna raised Seagate’s price target from $775 to $875 while maintaining a neutral rating, implying about 10.6% upside from the prior close. The broader analyst consensus remains more bullish, with a “Moderate Buy” rating and an average target of $951.20.
• Seagate exceeded quarterly expectations, reporting EPS of $5.71 versus the $5.10 consensus and revenue of $3.63 billion, up 48.5% year over year. The company also issued stronger-than-expected fiscal Q1 2027 guidance, supported by continued AI and data-center storage demand.
• Shares rose 5.9% to $791.13, but the stock remains highly volatile and richly valued, with a P/E ratio of 75.16 after a substantial rally. Insider selling totaling about $126.2 million over the past 90 days may also warrant investor attention.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price raised by equities researchers at Susquehanna from $775.00 to $875.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the data storage provider's stock. Susquehanna's price objective would suggest a potential upside of 10.60% from the stock's previous close.

Several other research analysts also recently weighed in on STX. Wells Fargo & Company upped their target price on shares of Seagate Technology from $1,100.00 to $1,180.00 and gave the company an "overweight" rating in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Fox Advisors cut shares of Seagate Technology from an "overweight" rating to an "equal weight" rating in a research report on Monday, June 22nd. BNP Paribas Exane raised their target price on Seagate Technology from $530.00 to $860.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, UBS Group lifted their target price on Seagate Technology from $515.00 to $545.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $951.20.

Seagate Technology Stock Up 5.9%

Seagate Technology stock traded up $43.84 during midday trading on Wednesday, hitting $791.13. 5,093,075 shares of the company were exchanged, compared to its average volume of 4,352,196. The company's fifty day moving average price is $894.95 and its 200-day moving average price is $618.98. The company has a market cap of $177.40 billion, a PE ratio of 75.16 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology has a fifty-two week low of $138.30 and a fifty-two week high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology's revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter last year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, research analysts predict that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insider Activity at Seagate Technology

In related news, EVP John Christopher Morris sold 1,364 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares of the company's stock, valued at $10,639,736.72. The trade was a 10.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 989 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the transaction, the executive vice president directly owned 4,290 shares in the company, valued at approximately $3,776,015.10. This represents a 18.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 151,069 shares of company stock worth $126,191,753. Company insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Walker Asset Management LLC acquired a new position in Seagate Technology during the 2nd quarter worth $338,000. Ballast Inc. acquired a new position in shares of Seagate Technology during the second quarter valued at $222,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of Seagate Technology during the second quarter valued at about $354,000. Taylor & Morgan Wealth Management LLC raised its stake in shares of Seagate Technology by 8.8% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider's stock valued at $582,000 after purchasing an additional 49 shares in the last quarter. Finally, Nolet Wealth Management LLC acquired a new stake in Seagate Technology in the second quarter worth about $293,000. 92.87% of the stock is currently owned by institutional investors.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Results exceeded expectations: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, above the roughly $5.10 analyst consensus, while revenue rose 48.5% year over year to $3.63 billion, ahead of estimates near $3.50 billion. Net income increased to $1.29 billion from $488 million a year earlier. Seagate Technology Fiscal Fourth-Quarter Results
• Positive Sentiment: Strong forward guidance: Seagate forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, both well above Wall Street expectations. The outlook suggests that demand and pricing momentum are continuing into the new fiscal year. Seagate Forecasts Upbeat Quarter
• Positive Sentiment: AI and data-center demand remain key catalysts: Management described demand from cloud and data-center customers as durable, supported by AI infrastructure expansion. Seagate is also advancing heat-assisted magnetic recording (HAMR) and its Mozaic platform to increase drive capacity without proportionate manufacturing investment. Seagate Q4 Earnings Call Highlights
• Positive Sentiment: Profitability and cash generation improved: Seagate highlighted record margins and $3.1 billion in fiscal 2026 free cash flow, strengthening the investment case and supporting shareholder returns. Cantor Fitzgerald reaffirmed an overweight rating, while Citi and Rosenblatt raised their price targets to $1,300 and $1,400, respectively.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The annualized yield is approximately 0.4%, making the announcement more relevant as a capital-allocation signal than as a major income catalyst.
• Negative Sentiment: Despite the earnings-driven rebound, STX remains exposed to elevated expectations after a substantial prior rally. Shares had recently fallen sharply amid broader concerns about the sustainability of the AI trade, and the stock’s high valuation and volatility could limit gains if future results fail to keep exceeding already-strong forecasts.

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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