JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its price target upped by research analysts at JPMorgan Chase & Co. from $1,095.00 to $1,240.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the data storage provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 54.87% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $385.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Zacks Research cut Seagate Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $1,300.00 price target on shares of Seagate Technology in a research note on Wednesday. Evercore lifted their price objective on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,187.00 target price (up from $1,035.00) on shares of Seagate Technology in a report on Wednesday. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $970.00.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $53.40 during midday trading on Wednesday, reaching $800.70. 5,587,419 shares of the company’s stock traded hands, compared to its average volume of 4,367,976. Seagate Technology has a one year low of $138.30 and a one year high of $1,145.00. The stock has a 50 day moving average of $894.95 and a 200 day moving average of $618.98. The company has a market cap of $179.54 billion, a price-to-earnings ratio of 76.47 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts anticipate that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 9,343 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $924.42, for a total transaction of $8,636,856.06. Following the transaction, the chief executive officer owned 311,517 shares of the company’s stock, valued at $287,972,545.14. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 903 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer owned 42,860 shares of the company’s stock, valued at approximately $37,724,943.40. The trade was a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 151,069 shares of company stock worth $126,191,753 in the last quarter. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently made changes to their positions in the business. Walker Asset Management LLC bought a new position in Seagate Technology during the second quarter valued at approximately $338,000. Ballast Inc. purchased a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $222,000. Regent Peak Wealth Advisors LLC bought a new position in Seagate Technology during the second quarter valued at $354,000. Taylor & Morgan Wealth Management LLC grew its stake in shares of Seagate Technology by 8.8% in the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 603 shares of the data storage provider’s stock worth $582,000 after buying an additional 49 shares in the last quarter. Finally, Nolet Wealth Management LLC bought a new stake in shares of Seagate Technology in the 2nd quarter worth about $293,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Seagate Technology News

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

• Positive Sentiment: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, exceeding the $5.10 consensus estimate, while revenue rose 48.5% year over year to $3.63 billion, above expectations of approximately $3.50 billion. Seagate fiscal fourth-quarter results
• Positive Sentiment: Management forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, well above analyst expectations of roughly $3.7 billion in revenue and $5.63 in EPS. The outlook points to continued momentum from AI infrastructure and cloud-storage demand. Seagate upbeat forecast
• Positive Sentiment: Investors highlighted record profitability, fiscal 2026 annual revenue growth of 34%, and record free cash flow of $3.1 billion. Seagate also cited durable data-center demand, progress with its HAMR and Mozaic storage technologies, margin expansion and strong cash generation. Seagate earnings call highlights
• Positive Sentiment: Several analysts raised their targets following the results: Wells Fargo to $1,180, Rosenblatt to $1,400, Citigroup to $1,300, Wedbush to $1,000 and Susquehanna to $875. Cantor Fitzgerald reaffirmed an overweight rating with a $1,300 target, reinforcing bullish expectations for AI-related storage growth.
• Neutral Sentiment: Seagate’s quarterly dividend was declared at $0.74 per share, payable October 7 to shareholders of record September 24. The approximately 0.4% yield is supportive but unlikely to be a major near-term trading catalyst.
• Negative Sentiment: The broader memory and storage sector remains volatile, with SanDisk and Micron falling amid concerns about AI-trade sustainability and potential valuation contraction. Seagate’s elevated valuation and the fact that its shares had already priced in significant optimism could limit further gains if future results or guidance fall short.

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.