Wells Fargo & Company Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for Seagate Technology from $160.00 to $240.00, indicating a potential upside of 11.95% from its current stock price.
• Analysts have shown positive sentiments towards Seagate, with several rating upgrades and a consensus price target of $213.05, reflecting a trend of confidence in the company's future performance.
• In recent months, insider trading activity has included significant sales by executives, where insiders sold a total of $14 million in shares, prompting scrutiny over their confidence in the stock's future potential.

Seagate Technology (NASDAQ:STX - Get Free Report) had its target price raised by analysts at Wells Fargo & Company from $160.00 to $240.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the data storage provider's stock. Wells Fargo & Company's price target indicates a potential upside of 11.95% from the stock's current price.

A number of other equities analysts have also commented on STX. UBS Group boosted their price objective on shares of Seagate Technology from $85.00 to $155.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Mizuho increased their price target on shares of Seagate Technology from $160.00 to $245.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Bank of America boosted their price objective on Seagate Technology from $215.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Barclays increased their target price on Seagate Technology from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. Finally, Sanford C. Bernstein started coverage on Seagate Technology in a research report on Tuesday, September 16th. They set an "outperform" rating and a $250.00 price target on the stock. One investment 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.05.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $214.38 on Monday. Seagate Technology has a 1 year low of $63.19 and a 1 year high of $264.83. The stock has a 50-day simple moving average of $191.09 and a 200-day simple moving average of $141.13. The stock has a market capitalization of $45.66 billion, a P/E ratio of 31.67, a PEG ratio of 0.96 and a beta of 1.63.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.14. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The company's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business 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 year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 5,905 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $155.00, for a total value of $915,275.00. Following the completion of the sale, the executive vice president directly owned 6,147 shares of the company's stock, valued at $952,785. The trade was a 49.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay L. Geldmacher sold 2,500 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total transaction of $376,250.00. Following the transaction, the director owned 352 shares in the company, valued at approximately $52,976. This trade represents a 87.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,210 shares of company stock worth $14,146,016 over the last 90 days. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbor Asset Planning Inc. bought a new position in Seagate Technology in the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. raised its stake in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after purchasing an additional 168 shares during the last quarter. MTM Investment Management LLC bought a new stake in Seagate Technology in the 2nd quarter valued at $29,000. GoalVest Advisory LLC increased its holdings in shares of Seagate Technology by 30.6% during the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider's stock worth $46,000 after purchasing an additional 75 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter worth about $31,000. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

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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