Citigroup Boosts Seagate Technology (NASDAQ:STX) Price Target to $480.00

Seagate Technology (NASDAQ:STX) had its price target hoisted by equities research analysts at Citigroup from $460.00 to $480.00 in a research report issued on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. Citigroup’s target price suggests a potential upside of 13.02% from the stock’s current price.

A number of other equities research analysts have also issued reports on STX. Barclays upped their price objective on shares of Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a report on Wednesday, January 28th. Sanford C. Bernstein increased their price objective on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Evercore ISI upped their price target on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. UBS Group boosted their price objective on shares of Seagate Technology from $335.00 to $385.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. Finally, TD Cowen boosted their price target on shares of Seagate Technology from $340.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.48.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $424.70 on Friday. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. Seagate Technology has a one year low of $63.19 and a one year high of $459.41. The firm has a market cap of $92.61 billion, a PE ratio of 47.91, a PEG ratio of 0.94 and a beta of 1.62. The firm has a fifty day moving average of $317.49 and a 200 day moving average of $246.12.

Seagate Technology (NASDAQ:STX) last issued 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 firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. As a group, research analysts predict that Seagate Technology will post 6.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $429.27, for a total transaction of $8,585,400.00. Following the transaction, the chief executive officer owned 410,056 shares of the company’s stock, valued at approximately $176,024,739.12. The trade was a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 137,976 shares of company stock worth $45,330,378. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Seagate Technology by 5.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 61,270 shares of the data storage provider’s stock worth $16,873,000 after buying an additional 3,091 shares during the last quarter. Tredje AP fonden lifted its position in Seagate Technology by 446.6% in the fourth quarter. Tredje AP fonden now owns 111,339 shares of the data storage provider’s stock valued at $30,662,000 after acquiring an additional 90,968 shares during the last quarter. Larson Financial Group LLC boosted its stake in Seagate Technology by 86.7% in the fourth quarter. Larson Financial Group LLC now owns 310 shares of the data storage provider’s stock valued at $85,000 after acquiring an additional 144 shares in the last quarter. Csenge Advisory Group increased its position in shares of Seagate Technology by 93.3% during the fourth quarter. Csenge Advisory Group now owns 2,984 shares of the data storage provider’s stock worth $822,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Aviance Capital Partners LLC acquired a new stake in shares of Seagate Technology in the 4th quarter valued at about $224,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

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.