Seagate Technology (NASDAQ:STX) Upgraded to Strong-Buy at Exane BNP Paribas

Exane BNP Paribas upgraded shares of Seagate Technology (NASDAQ:STX) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Several other research analysts have also weighed in on STX. Morgan Stanley reaffirmed an “overweight” rating and set a $372.00 price target on shares of Seagate Technology in a research report on Thursday. Bank of America raised their target price on shares of Seagate Technology from $320.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday. Benchmark boosted their target price on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wells Fargo & Company upped their price target on shares of Seagate Technology from $250.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Finally, BNP Paribas Exane raised shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $380.00 price objective for the company in a research report on Wednesday. Two 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $352.00.

Seagate Technology Stock Down 2.2%

Shares of NASDAQ:STX traded down $7.42 during midday trading on Wednesday, reaching $336.80. The company had a trading volume of 761,623 shares, compared to its average volume of 3,481,195. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $350.05. The stock has a market cap of $71.93 billion, a PE ratio of 42.87, a P/E/G ratio of 1.28 and a beta of 1.60. The business’s 50 day moving average price is $285.72 and its 200 day moving average price is $227.19.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors 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 was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. Seagate Technology’s dividend payout ratio (DPR) is currently 38.00%.

Insider Transactions at Seagate Technology

In other news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $266.41, for a total transaction of $545,074.86. Following the transaction, the director owned 12,244 shares in the company, valued at approximately $3,261,924.04. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 6,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the sale, the executive vice president directly owned 12,041 shares of the company’s stock, valued at approximately $3,251,070. The trade was a 33.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 442,749 shares during the period. State Street Corp raised its position in Seagate Technology by 3.1% during the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock valued at $2,196,420,000 after purchasing an additional 274,913 shares in the last quarter. WCM Investment Management LLC acquired a new position in Seagate Technology during the third quarter valued at approximately $1,187,621,000. Geode Capital Management LLC lifted its stake in Seagate Technology by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after purchasing an additional 85,660 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Seagate Technology by 1,072.5% in the 3rd 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. 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: Exane (BNP Paribas Exane) upgraded Seagate to an outperform/strong‑buy and set a $380 target, signaling notable analyst conviction and helping lift the stock. Read More.
• Positive Sentiment: Bank of America reiterated Buy, raised its price target to $400 and flagged strong Q2 prospects driven by data‑center demand and seasonal improvements across consumer/VIA segments — a near-term earnings/catalyst driver. Read More.
• Positive Sentiment: Citigroup raised its price target to $385 and maintained a Buy, adding to the cluster of bullish targets implying mid‑to‑high single‑digit upside from current levels. Read More.
• Positive Sentiment: Rosenblatt and UBS published notes forecasting strong price appreciation for STX, reflecting broader analyst momentum behind storage names this week. Read More. Read More.
• Positive Sentiment: Market narrative shift: institutional money is rotating from GPUs/chips into storage (hot + cold tiers) as AI training scale increases data capacity needs — a sector tailwind that benefits Seagate alongside peers. (MarketBeat coverage)
• Neutral Sentiment: UBS earlier raised its target to $335 and holds a neutral rating — a smaller upgrade that signals improving fundamentals but less aggressive upside than some peers. Read More.
• Neutral Sentiment: Multiple news outlets note STX hit a new 12‑month high after the analyst activity, reinforcing momentum but also highlighting that some upside is already priced in. Read More.
• Negative Sentiment: Zacks Research downgraded Seagate from strong‑buy to hold, a reminder that not all analysts view the rally as fully justified and raising the risk of short‑term profit‑taking. Read More.

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.