Seagate Technology (NASDAQ:STX) Price Target Raised to $600.00 at JPMorgan Chase & Co.

Seagate Technology (NASDAQ:STX) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $525.00 to $600.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the data storage provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.88% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a research note on Friday, March 27th. Loop Capital lifted their target price on shares of Seagate Technology from $465.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Susquehanna boosted their target price on shares of Seagate Technology from $420.00 to $485.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Argus upped their price target on shares of Seagate Technology from $300.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, UBS Group raised their price target on Seagate Technology from $385.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $494.13.

Seagate Technology Stock Up 2.3%

Shares of NASDAQ:STX traded up $11.94 on Thursday, reaching $531.54. The company had a trading volume of 2,561,757 shares, compared to its average volume of 4,105,722. The stock has a market capitalization of $115.91 billion, a P/E ratio of 60.13, a P/E/G ratio of 1.16 and a beta of 1.61. The stock has a 50-day moving average price of $417.64 and a 200 day moving average price of $330.11. Seagate Technology has a twelve month low of $72.62 and a twelve month high of $534.23. The company has a quick ratio of 0.72, a current ratio of 1.12 and a debt-to-equity ratio of 7.63.

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

Insider Buying and Selling at Seagate Technology

In related news, EVP James Ci Lee sold 673 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $348.85, for a total value of $234,776.05. Following the completion of the sale, the executive vice president owned 257 shares in the company, valued at approximately $89,654.45. This trade represents a 72.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The SEC filing for this sale provides additional information. Insiders have sold 112,223 shares of company stock valued at $46,711,217 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STX. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth lifted its position in shares of Seagate Technology by 343.5% during the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Concord Wealth Partners acquired a new position in Seagate Technology during the 4th quarter worth $28,000. 92.87% of the stock is owned by institutional investors.

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.