Seagate Technology (NASDAQ:STX) Given New $983.00 Price Target at China Renaissance

Seagate Technology (NASDAQ:STX) had its target price boosted by equities research analysts at China Renaissance from $802.00 to $983.00 in a report released on Friday,MarketScreener reports. China Renaissance’s price objective would suggest a potential upside of 11.55% from the company’s previous close.

Several other analysts have also recently commented on STX. Argus increased their target price on Seagate Technology from $450.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays lifted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Morgan Stanley upped their target price on shares of Seagate Technology from $582.00 to $767.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Wedbush raised their target price on Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, Loop Capital lifted their price objective on shares of Seagate Technology from $950.00 to $1,140.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $820.63.

Seagate Technology Trading Up 1.5%

Shares of STX opened at $881.20 on Friday. The stock’s 50-day moving average price is $699.38 and its 200 day moving average price is $472.60. The firm has a market capitalization of $197.59 billion, a price-to-earnings ratio of 83.37 and a beta of 2.04. Seagate Technology has a 12-month low of $124.63 and a 12-month high of $966.80. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts predict that Seagate Technology will post 14.1 earnings per share for the current year.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP John Christopher Morris sold 574 shares of Seagate Technology stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $821.66, for a total value of $471,632.84. Following the sale, the executive vice president owned 12,199 shares of the company’s stock, valued at $10,023,430.34. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 2,855 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $821.74, for a total value of $2,346,067.70. Following the completion of the sale, the chief executive officer owned 324,870 shares in the company, valued at approximately $266,958,673.80. This trade represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,629 shares of company stock valued at $112,739,671 over the last three months. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in STX. Arrowstreet Capital Limited Partnership grew its position in Seagate Technology by 1,072.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,949,512 shares of the data storage provider’s stock valued at $696,262,000 after purchasing an additional 2,697,957 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Seagate Technology by 1,510.1% in the fourth 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 during the last quarter. Norges Bank bought a new stake in Seagate Technology during the fourth quarter worth about $498,363,000. Soroban Capital Partners LP boosted its position in Seagate Technology by 1,468.1% during the second quarter. Soroban Capital Partners LP now owns 1,417,600 shares of the data storage provider’s stock valued at $204,602,000 after purchasing an additional 1,327,197 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in 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 valued at $378,985,000 after purchasing an additional 943,170 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate said its nearline storage capacity is almost fully allocated through 2027 and lifted its long-term revenue growth target to at least 20%, signaling strong cloud and AI-driven demand. Seagate Locks In Nearline Demand And Lifts Long Term Growth Outlook
• Positive Sentiment: JPMorgan raised its price target on Seagate and maintained an Overweight rating, adding to bullish analyst sentiment around the stock. JPMorgan raises price target on Seagate Technology to 920 from 775, maintains overweight rating
• Positive Sentiment: Brokerage coverage remains constructive, with commentary pointing to AI-driven demand and strong earnings momentum as reasons for the stock’s rerating. STX Stock Tops Industry Returns in 3 Months: A Smart Investment Now?
• Neutral Sentiment: Seagate announced redemption of its exchangeable notes, a capital-structure move that is unlikely to be a major near-term stock driver on its own. Seagate Announces Redemption of Exchangeable Notes
• Negative Sentiment: Several executives, including the CEO and CFO, sold shares in recent insider transactions, which can create some caution even though the sales were relatively small versus their total holdings. Insider Selling: Seagate Technology (NASDAQ:STX) EVP Sells 574 Shares of Stock

Seagate Technology Company Profile

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.