Mizuho Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price target lifted by stock analysts at Mizuho from $875.00 to $1,090.00 in a research note issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Mizuho’s target price suggests a potential upside of 24.13% from the stock’s current price.

A number of other analysts have also commented on STX. TD Cowen upped their price objective on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. BNP Paribas Exane boosted their target price on Seagate Technology from $530.00 to $860.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group increased their price objective on Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Barclays lifted their price objective on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $788.29.

Seagate Technology Stock Performance

Seagate Technology stock opened at $878.08 on Monday. The company has a market cap of $196.89 billion, a PE ratio of 83.82 and a beta of 2.04. Seagate Technology has a 12 month low of $124.63 and a 12 month high of $966.80. The company has a fifty day moving average price of $661.50 and a two-hundred day moving average price of $455.59. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Research analysts expect that Seagate Technology will post 14.1 earnings per share for the current year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 13,780 shares of Seagate Technology stock in a transaction on Monday, June 1st. The stock was sold at an average price of $924.99, for a total value of $12,746,362.20. Following the completion of the transaction, the chief executive officer owned 323,591 shares in the company, valued at approximately $299,318,439.09. The trade was a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shankar Arumugavelu sold 1,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $927.68, for a total value of $927,680.00. Following the sale, the director owned 6,626 shares of the company’s stock, valued at approximately $6,146,807.68. The trade was a 13.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 155,187 shares of company stock worth $108,267,701 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evansbrook LLC acquired a new position in shares of Seagate Technology during the first quarter worth about $892,000. Parallel Advisors LLC boosted its stake in Seagate Technology by 11.1% in the 1st quarter. Parallel Advisors LLC now owns 4,353 shares of the data storage provider’s stock valued at $1,706,000 after purchasing an additional 435 shares during the period. NewEdge Advisors LLC grew its holdings in Seagate Technology by 85.9% in the 1st quarter. NewEdge Advisors LLC now owns 22,046 shares of the data storage provider’s stock valued at $8,637,000 after buying an additional 10,190 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of Seagate Technology in the first quarter valued at about $262,000. Finally, Cozad Asset Management Inc. increased its position in Seagate Technology by 6.7% during the first quarter. Cozad Asset Management Inc. now owns 2,661 shares of the data storage provider’s stock worth $1,042,000 after acquiring an additional 166 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

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.