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

Seagate Technology (NASDAQ:STX) had its price objective lifted by Wedbush from $290.00 to $380.00 in a research note issued to investors on Friday,MarketScreener reports. They currently have an outperform rating on the data storage provider’s stock.

A number of other research analysts have also recently commented on the company. Evercore ISI increased their target price on Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seagate Technology in a research report on Monday, December 29th. Exane BNP Paribas raised Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Cantor Fitzgerald boosted their target price on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Loop Capital increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average price target of $356.09.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $346.10 on Friday. The company’s fifty day moving average price is $289.16 and its 200-day moving average price is $229.39. The firm has a market capitalization of $73.91 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 1.04 and a beta of 1.60. Seagate Technology has a one year low of $63.19 and a one year high of $350.05.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a $0.74 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. Seagate Technology’s payout ratio is presently 38.00%.

Insider Activity

In related news, CFO Gianluca Romano sold 54,021 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction of $15,404,628.36. Following the completion of the sale, the chief financial officer directly owned 56,293 shares in the company, valued at $16,052,511.88. This represents a 48.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the sale, the director directly owned 12,244 shares of the company’s stock, valued at $3,261,924.04. The trade was a 14.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 132,557 shares of company stock valued at $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently modified their holdings of STX. Sovereign Financial Group Inc. grew its stake in shares of Seagate Technology by 3.2% in the fourth quarter. Sovereign Financial Group Inc. now owns 1,063 shares of the data storage provider’s stock worth $293,000 after purchasing an additional 33 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Seagate Technology by 0.6% during the 4th quarter. Pallas Capital Advisors LLC now owns 5,446 shares of the data storage provider’s stock valued at $1,500,000 after purchasing an additional 33 shares during the last quarter. West Family Investments Inc. lifted its holdings in Seagate Technology by 2.7% in the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock worth $337,000 after buying an additional 37 shares during the period. Capital Investment Advisors LLC grew its position in shares of Seagate Technology by 1.9% in the 4th quarter. Capital Investment Advisors LLC now owns 1,950 shares of the data storage provider’s stock worth $537,000 after buying an additional 37 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Seagate Technology by 0.7% in the 4th quarter. Diversify Advisory Services LLC now owns 5,880 shares of the data storage provider’s stock worth $1,619,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Trending Headlines about Seagate Technology

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

• Positive Sentiment: Wedbush raised its price target to $380 and kept an “outperform” rating, citing continued strength in AI/data-center HDD demand and pushing upside versus prior targets. Wedbush Raises Price Target on Seagate
• Positive Sentiment: Exane BNP Paribas upgraded STX to “strong-buy” (from hold), reinforcing bullish analyst momentum that has contributed to recent upside. Seagate Raised to Outperform at BNP Paribas Exane
• Positive Sentiment: Multiple broker notes (Rosenblatt, BofA, UBS) and an analyst-led upgrade pushed STX to a 12?month high, signaling broad institutional conviction in near-term demand. Seagate Hits New 12-Month High After Analyst Upgrade
• Positive Sentiment: Macro narrative: investors are rotating into storage as AI models shift the bottleneck from compute to capacity—benefiting HDD makers like Seagate. This thematic move underpins rising multiples. Forget the Chips, Buy Memory
• Neutral Sentiment: Zacks previews Seagate’s Q2 (reporting Jan. 27), with consensus expecting ~16% revenue growth y/y driven by AI data-center demand and healthy margins—an upcoming catalyst but not a guaranteed beat. Seagate Stock Ahead of Q2 Earnings Release
• Neutral Sentiment: Technical/engineering progress: Seagate’s areal-density roadmap and HAMR/Mozaic drives keep cost-per-TB competitive for hyperscalers, supporting longer-term capacity demand. Seagate Elevates HDD Performance
• Neutral Sentiment: A recent take reassesses Seagate after a ~226% one?year surge, useful context for investors but primarily descriptive rather than new fundamental news. Reassessing Seagate After Its 226% Surge
• Negative Sentiment: Critical view: Seeking Alpha warns STX now trades at ~29x forward P/E with nearline production committed through 2026, which could cap upside even as demand remains strong—raising valuation risk. Seagate: Outlandish Valuation
• Negative Sentiment: Analyst views are not unanimous—some coverage flagged in The Globe and Mail reflects mixed opinions, which can increase volatility as investors digest competing forecasts. Analysts’ Opinions Are Mixed

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.