Wedbush Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its target price increased by Wedbush from $825.00 to $1,000.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Wedbush’s target price would indicate a potential upside of 26.40% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Zacks Research downgraded Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,300.00 price target on shares of Seagate Technology in a report on Wednesday. Evercore increased their price target on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $1,187.00 price objective on shares of Seagate Technology in a report on Wednesday. Finally, Susquehanna boosted their target price on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research note on Wednesday. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and an average target price of $951.20.

Seagate Technology Stock Up 5.9%

STX stock traded up $43.84 during trading on Wednesday, reaching $791.13. The stock had a trading volume of 5,093,075 shares, compared to its average volume of 4,352,196. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 3.16. The company has a market capitalization of $177.40 billion, a price-to-earnings ratio of 75.16 and a beta of 2.04. Seagate Technology has a one year low of $138.30 and a one year high of $1,145.00. The company’s 50 day moving average is $894.95 and its two-hundred day moving average is $618.98.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, topping the consensus estimate of $5.10 by $0.61. The firm 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 company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.59 EPS. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Equities research analysts forecast that Seagate Technology will post 14.14 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $880.19, for a total transaction of $794,811.57. Following the sale, the chief financial officer directly owned 42,860 shares of the company’s stock, valued at $37,724,943.40. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 9,343 shares of the stock in a transaction dated Wednesday, July 1st. The stock was 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. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,069 shares of company stock valued at $126,191,753 in the last three months. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Salomon & Ludwin LLC grew its position in Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after buying an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Avion Wealth boosted its position in shares of Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Results exceeded expectations: Seagate reported fiscal Q4 non-GAAP EPS of $5.71, above the roughly $5.10 analyst consensus, while revenue rose 48.5% year over year to $3.63 billion, ahead of estimates near $3.50 billion. Net income increased to $1.29 billion from $488 million a year earlier. Seagate Technology Fiscal Fourth-Quarter Results
• Positive Sentiment: Strong forward guidance: Seagate forecast fiscal Q1 2027 revenue of $4.0 billion to $4.2 billion and EPS of $7.10 to $7.50, both well above Wall Street expectations. The outlook suggests that demand and pricing momentum are continuing into the new fiscal year. Seagate Forecasts Upbeat Quarter
• Positive Sentiment: AI and data-center demand remain key catalysts: Management described demand from cloud and data-center customers as durable, supported by AI infrastructure expansion. Seagate is also advancing heat-assisted magnetic recording (HAMR) and its Mozaic platform to increase drive capacity without proportionate manufacturing investment. Seagate Q4 Earnings Call Highlights
• Positive Sentiment: Profitability and cash generation improved: Seagate highlighted record margins and $3.1 billion in fiscal 2026 free cash flow, strengthening the investment case and supporting shareholder returns. Cantor Fitzgerald reaffirmed an overweight rating, while Citi and Rosenblatt raised their price targets to $1,300 and $1,400, respectively.
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share, payable October 7 to shareholders of record September 24. The annualized yield is approximately 0.4%, making the announcement more relevant as a capital-allocation signal than as a major income catalyst.
• Negative Sentiment: Despite the earnings-driven rebound, STX remains exposed to elevated expectations after a substantial prior rally. Shares had recently fallen sharply amid broader concerns about the sustainability of the AI trade, and the stock’s high valuation and volatility could limit gains if future results fail to keep exceeding already-strong forecasts.

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.