Seagate Technology (NASDAQ:STX) Given New $450.00 Price Target at Evercore ISI

Seagate Technology (NASDAQ:STX) had its price target hoisted by Evercore ISI from $330.00 to $450.00 in a report published on Wednesday,MarketScreener reports. The firm currently has an outperform rating on the data storage provider’s stock.

A number of other research firms have also recently commented on STX. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp set a $500.00 price objective on Seagate Technology in a research note on Wednesday. BNP Paribas Exane raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $380.00 price objective for the company in a research note on Wednesday, January 21st. Morgan Stanley upped their target price 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. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $411.04.

Seagate Technology Trading Down 1.1%

NASDAQ STX traded down $5.07 on Wednesday, hitting $437.86. The company’s stock had a trading volume of 3,880,154 shares, compared to its average volume of 4,448,621. The firm has a market cap of $93.51 billion, a P/E ratio of 56.47, a PEG ratio of 1.08 and a beta of 1.60. Seagate Technology has a 52-week low of $63.19 and a 52-week high of $457.84. The company’s 50-day simple moving average is $297.13 and its 200 day simple moving average is $235.15.

Seagate Technology (NASDAQ:STX) last announced its earnings results 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. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 462.62%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, research analysts forecast that Seagate Technology will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 25th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th. Seagate Technology’s dividend payout ratio is currently 38.00%.

Insider Transactions at Seagate Technology

In related news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the transaction, the director owned 12,244 shares in the company, valued at approximately $3,261,924.04. This represents a 14.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the transaction, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at approximately $122,760,816.20. This trade represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 126,152 shares of company stock worth $35,156,362 over the last ninety days. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Seagate Technology

Institutional investors have recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new stake in shares of Seagate Technology during the second quarter worth $27,000. Salomon & Ludwin LLC grew its stake in Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Finally, Avion Wealth grew its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology News Roundup

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

• Positive Sentiment: Q2 results and guidance beat — Seagate reported stronger‑than‑expected EPS and revenue, record margins, and raised Q3 guidance above Street estimates, which is the primary catalyst behind the rally. Business Wire: Seagate Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Analyst upgrades and higher price targets — Several firms hiked targets after the print (examples: Robert W. Baird to $505 and Evercore ISI to $450), increasing buy/ outperform calls and signaling more upside from the earnings surprise. Benzinga: Robert W. Baird upgrade MarketScreener: Evercore ISI raises PT
• Positive Sentiment: Demand commentary — Management and commentators say Seagate is effectively sold out through 2026 as AI-driven data growth lifts nearline capacity demand, reinforcing the revenue and margin outlook. Benzinga: Seagate Is Sold Out Through 2026
• Positive Sentiment: Dividend maintained/declared — Company announced a quarterly dividend (supports income investors and signals confidence in cash flow).
• Neutral Sentiment: Analyst views remain mixed — while many firms lifted targets (some to $500+), a few major houses (Goldman, UBS) still show targets that imply limited upside or modest downside vs. the recent price, creating dispersion in street expectations. TickerReport: Analyst target notes
• Negative Sentiment: Insider sale — EVP James Ci Lee sold 673 shares (materiality small vs. market cap but worth noting for sentiment). SEC Form 4: Insider Sale

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.