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

Key Points

• Wedbush raised its price target on Seagate to $380 (from $290) and kept an "outperform" rating, joining multiple analyst upgrades that leave the consensus at a Moderate Buy with an average target of $356.09.
• STX traded at $341.78 (down ~1.4%) with a market cap of about $72.99B and a P/E of 44.11, reflecting strong momentum toward its 1‑year high (~$350) but also indicating elevated valuation risk.
• Insiders sold roughly 132,557 shares (~$36.8M) in the last quarter while institutions own ~92.87% of the stock, underscoring notable insider liquidity amid concentrated institutional ownership.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price increased by Wedbush from $290.00 to $380.00 in a report released on Friday,MarketScreener reports. The firm currently has an "outperform" rating on the data storage provider's stock. Wedbush's target price indicates a potential upside of 11.18% from the company's previous close.

STX has been the topic of several other research reports. Citigroup upped their price objective on Seagate Technology from $320.00 to $385.00 and gave the stock a "buy" rating in a research report on Tuesday. Loop Capital raised their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the company a "buy" rating in a research report on Monday, November 10th. Argus lifted their price objective on shares of Seagate Technology from $170.00 to $300.00 and gave the company a "strong-buy" rating in a report on Thursday, October 30th. Benchmark raised their target price on Seagate Technology from $255.00 to $325.00 and gave the company a "buy" rating in a research report on Tuesday, December 16th. Finally, Evercore ISI lifted their price target on Seagate Technology from $160.00 to $330.00 and gave the company an "outperform" rating in a research note on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average price target of $356.09.

Seagate Technology Trading Down 1.4%

STX traded down $4.75 during midday trading on Friday, hitting $341.78. 466,316 shares of the company were exchanged, compared to its average volume of 3,411,027. The company's 50 day simple moving average is $287.40 and its 200 day simple moving average is $228.02. The firm has a market capitalization of $72.99 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.60. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $350.05.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $262.82, for a total transaction of $5,256,400.00. Following the completion of the sale, the chief executive officer directly owned 465,668 shares of the company's stock, valued at approximately $122,386,863.76. This represents a 4.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 6,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00. Following the completion of the sale, the executive vice president owned 12,041 shares of the company's stock, valued at approximately $3,251,070. This represents a 33.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,557 shares of company stock valued at $36,847,793 over the last quarter. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Vision Financial Markets LLC acquired a new position in shares of Seagate Technology during the second quarter valued at about $173,000. Tokio Marine Asset Management Co. Ltd. bought a new position in Seagate Technology during the third quarter valued at about $1,864,000. Nordea Investment Management AB raised its holdings in Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider's stock valued at $2,632,000 after acquiring an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its position in shares of Seagate Technology by 185.8% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider's stock worth $2,704,000 after acquiring an additional 12,178 shares during the period. Finally, Channing Capital Management LLC acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $4,542,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: BNP Paribas Exane upgraded Seagate to Outperform/Strong-Buy and set a $380 target, a catalyst for recent upside as analysts push targets higher. Seagate Technology NASDAQ: STX Raised to Outperform at BNP Paribas Exane
• Positive Sentiment: Broad analyst bullishness (Rosenblatt, Bank of America, UBS) and follow-on upgrades helped push STX to a 12‑month high, signaling strong investor momentum behind the AI-storage narrative. Seagate Technology NASDAQ: STX Hits New 12-Month High After Analyst Upgrade
• Positive Sentiment: Product/technology tailwinds: Zacks highlights Seagate’s areal‑density roadmap and HAMR-powered Mozaic drives that keep HDD $/TB competitive as hyperscalers scale AI storage to 36TB+, supporting long-term demand and margins. Seagate Elevates HDD Performance Through Aerial Density Advancements
• Positive Sentiment: Earnings setup: Zacks argues Seagate’s history of beats and current positioning make another earnings beat likely, which supports upside if management outperforms consensus. Why Seagate (STX) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Sector rotation: MarketBeat says institutional money is shifting from chips to memory/storage as AI demand shifts the bottleneck to capacity — a macro tailwind for Seagate’s HDD/cold-tier business. Forget the Chips, Buy Memory: Why AI Money Is Moving to Storage
• Neutral Sentiment: Long-term performance: A Benzinga piece showing 5‑year returns is informative for investors considering STX as a multi-year holding, but it is descriptive rather than a fresh catalyst. $1000 Invested In Seagate Technology Hldgs 5 Years Ago Would Be Worth This Much Today
• Negative Sentiment: Valuation/near-term ceiling: Seeking Alpha warns Seagate trades at near‑all‑time high forward multiples (~29x forward P/E per the note), revenue growth may decelerate (Q2 guidance implies ~16% y/y), and nearline capacity is largely booked through 2026 — which could cap upside and raise risk of limited beats. Seagate: Outlandish Valuation With Little Upside

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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