Wedbush Boosts Seagate Technology (NASDAQ:STX) Price Target to $1,000.00

Key Points

• Wedbush raised Seagate’s price target to $1,000 from $825 and maintained an “outperform” rating, implying roughly 26.4% upside from the cited share price. Analysts overall rate STX “Moderate Buy,” with an average target of $951.20.
• Seagate exceeded quarterly expectations, reporting $5.71 in EPS and $3.63 billion in revenue, up 48.5% year over year. Its fiscal Q1 2027 guidance of $4.0–$4.2 billion in revenue and $7.10–$7.50 EPS was also above expectations.
• AI-driven cloud and data-center demand remains the main growth catalyst, supported by Seagate’s HAMR and Mozaic technologies. However, the stock’s elevated valuation and volatility leave it vulnerable if future results fail to surpass strong forecasts.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price objective raised by stock analysts at Wedbush from $825.00 to $1,000.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the data storage provider's stock. Wedbush's price objective would indicate a potential upside of 26.40% from the company's current price.

STX has been the subject of several other reports. Argus upped their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. TD Cowen lifted their price target on Seagate Technology from $500.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the stock an "overweight" rating in a report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and set a $1,300.00 price objective on shares of Seagate Technology in a research report on Wednesday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,187.00 price objective on shares of Seagate Technology in a research note on Wednesday. Twenty-two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $951.20.

Seagate Technology Price Performance

Seagate Technology stock traded up $43.84 during trading hours on Wednesday, reaching $791.13. 5,093,075 shares of the stock were exchanged, compared to its average volume of 4,352,196. The company has a market cap of $177.40 billion, a P/E ratio of 75.16 and a beta of 2.04. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. Seagate Technology has a twelve month low of $138.30 and a twelve month high of $1,145.00. The stock has a 50 day moving average of $894.95 and a two-hundred day moving average of $618.98.

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

Insider Transactions at Seagate Technology

In related news, EVP John Christopher Morris sold 1,364 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the sale, the executive vice president owned 12,088 shares in the company, valued at $10,639,736.72. The trade was a 10.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the company'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 $794,811.57. Following the completion of the transaction, the chief financial officer directly owned 42,860 shares of the company's stock, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 151,069 shares of company stock worth $126,191,753. Insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Massachusetts Financial Services Co. MA increased its stake in shares of Seagate Technology by 1,510.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider's stock valued at $553,125,000 after acquiring an additional 1,883,769 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology during the 4th quarter worth approximately $498,363,000. Soroban Capital Partners LP raised its stake in shares of Seagate Technology by 1,468.1% in the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider's stock worth $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Seagate Technology by 3,872.1% in the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider's stock worth $378,985,000 after purchasing an additional 943,170 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Seagate Technology by 102.0% in the fourth quarter. Deutsche Bank AG now owns 1,599,962 shares of the data storage provider's stock valued at $440,614,000 after purchasing an additional 807,962 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Key Seagate Technology News

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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