The Goldman Sachs Group Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Key Points

• Goldman Sachs has increased its target price for Seagate Technology stock from $170.00 to $270.00, indicating a potential upside of 19.26% and maintains a "buy" rating.
• Other analysts also raised their target prices, with most suggesting a strong interest in Seagate, reflected in their average rating of "Moderate Buy" and an average price target of $198.58.
• Seagate Technology reported earnings that surpassed expectations, with a net margin of 16.15% and a 29.5% year-over-year revenue increase, showing strong financial performance despite insider selling activity.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price hoisted by investment analysts at The Goldman Sachs Group from $170.00 to $270.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a "buy" rating on the data storage provider's stock. The Goldman Sachs Group's price objective suggests a potential upside of 19.26% from the stock's previous close.

Several other equities research analysts have also commented on the stock. TD Cowen raised their price target on shares of Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Mizuho lifted their target price on Seagate Technology from $160.00 to $245.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Bank of America upped their price objective on shares of Seagate Technology from $215.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Robert W. Baird raised their target price on shares of Seagate Technology from $120.00 to $188.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, UBS Group upped their price target on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and an average price target of $198.58.

Seagate Technology Trading Up 0.6%

Shares of Seagate Technology stock opened at $226.40 on Wednesday. The stock has a market capitalization of $48.22 billion, a P/E ratio of 33.26, a PEG ratio of 1.09 and a beta of 1.63. Seagate Technology has a twelve month low of $63.19 and a twelve month high of $264.83. The business's fifty day moving average price is $187.07 and its 200 day moving average price is $138.01.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.14. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. As a group, sell-side analysts predict that Seagate Technology will post 6.83 EPS for the current year.

Insiders Place Their Bets

In other Seagate Technology news, insider James Ci Lee sold 3,509 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $154.74, for a total transaction of $542,982.66. Following the completion of the sale, the insider directly owned 1,288 shares of the company's stock, valued at approximately $199,305.12. This represents a 73.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Morris sold 15,347 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the completion of the transaction, the executive vice president owned 9,843 shares of the company's stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,935 shares of company stock worth $14,394,416. Corporate insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC purchased a new position in Seagate Technology during the first quarter valued at approximately $223,000. Park Avenue Securities LLC grew its holdings in shares of Seagate Technology by 5.0% during the 1st quarter. Park Avenue Securities LLC now owns 6,313 shares of the data storage provider's stock valued at $536,000 after acquiring an additional 301 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Seagate Technology by 22.6% in the first quarter. Farther Finance Advisors LLC now owns 5,791 shares of the data storage provider's stock worth $490,000 after acquiring an additional 1,067 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Seagate Technology by 8.5% during the first quarter. GAMMA Investing LLC now owns 3,027 shares of the data storage provider's stock worth $257,000 after acquiring an additional 237 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in Seagate Technology during the first quarter valued at $1,220,000. 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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