Seagate Technology (NASDAQ:STX) Shares Up 9.1% on Analyst Upgrade

Seagate Technology Holdings PLC (NASDAQ:STX)’s stock price was up 9.1% on Wednesday after Sanford C. Bernstein raised their price target on the stock from $500.00 to $620.00. Sanford C. Bernstein currently has an outperform rating on the stock. Seagate Technology traded as high as $427.41 and last traded at $427.3480. Approximately 1,579,650 shares traded hands during trading, a decline of 62% from the average daily volume of 4,144,642 shares. The stock had previously closed at $391.76.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price objective on shares of Seagate Technology from $337.00 to $372.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. Mizuho increased their target price on shares of Seagate Technology from $440.00 to $475.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. The Goldman Sachs Group raised their price target on Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Jefferies Financial Group restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. assumed coverage on Seagate Technology in a research note on Monday. They set an “overweight” rating and a $525.00 price objective for the company. Nineteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $461.00.

Insiders Place Their Bets

In other news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the transaction, the director directly owned 223 shares in the company, valued at $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Ci Lee sold 673 shares of the stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 113,635 shares of company stock valued at $44,430,443. Corporate insiders own 0.79% of the company’s stock.

Seagate Technology News Roundup

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $620 from $500 and reiterated an Outperform rating, framing the recent pullback as a buying opportunity and arguing fundamentals justify a much higher valuation. Bernstein $620 target
• Positive Sentiment: JPMorgan initiated coverage with an Overweight (or equivalent) rating, highlighting cloud demand and pricing strength as reasons to expect further upside despite Seagate’s sharp recent run. JPMorgan initiation
• Positive Sentiment: Several commentators and analysts are calling the recent ~20% pullback an attractive entry point, arguing Seagate’s HDD exposure still benefits from cloud/AI storage demand. SA: 20% plunge opportunity
• Neutral Sentiment: Market coverage notes Seagate outperformed peers during a strong trading session, reflecting momentum and short-term buying interest. MarketWatch trading note
• Neutral Sentiment: Analysts and commentators are debating whether recent sector volatility (TurboQuant-driven swings) creates temporary entry points or signals deeper demand/architectural shifts. MSN: sector volatility
• Negative Sentiment: Zacks downgraded Seagate from “strong-buy” to “hold,” removing some conviction from part of the buy-side and signaling caution among retail/quant subscribers. Zacks downgrade
• Negative Sentiment: Broader headlines point to a sector selloff driven by reports of an Nvidia design shift and memory/AI readjustments that pressured storage and memory stocks — a risk for Seagate given cyclical demand links. Nvidia design shift / sector selloff
• Negative Sentiment: Opinion pieces raise valuation concerns and caution that current price levels reflect aggressive expectations; one headline explicitly says “Good Company, But I Don’t Trust The Story At This Price.” SA: valuation concerns

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Seagate Technology by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after purchasing an additional 442,749 shares during the period. State Street Corp lifted its stake in shares of Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock valued at $2,587,535,000 after purchasing an additional 94,527 shares during the period. Morgan Stanley boosted its holdings in Seagate Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock worth $1,464,391,000 after buying an additional 258,151 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Seagate Technology during the third quarter worth about $1,187,621,000. Finally, Geode Capital Management LLC grew its position in Seagate Technology by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after buying an additional 234,436 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

The stock’s fifty day simple moving average is $399.43 and its 200-day simple moving average is $310.76. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63. The company has a market capitalization of $93.19 billion, a PE ratio of 48.26, a PEG ratio of 0.81 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.77 by $0.34. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 25th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $2.96 annualized dividend and a yield of 0.7%. Seagate Technology’s dividend payout ratio is 33.48%.

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.