Seagate Technology (NASDAQ:STX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Seagate Technology (NASDAQ:STX) had its price objective lifted by stock analysts at Morgan Stanley from $1,187.00 to $1,200.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the data storage provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 77.55% from the stock’s current price.

Several other analysts also recently weighed in on STX. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a report on Wednesday, July 29th. Wells Fargo & Company dropped their price target on Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. raised their price target on Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Susquehanna lifted their price target on Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Barclays lifted their price target on Seagate Technology from $1,000.00 to $1,250.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $973.92.

Seagate Technology Stock Up 2.3%

Shares of NASDAQ STX traded up $15.07 during mid-day trading on Tuesday, reaching $675.88. The company had a trading volume of 2,753,013 shares, compared to its average volume of 4,392,376. Seagate Technology has a 52-week low of $209.00 and a 52-week high of $1,145.00. The stock has a market cap of $153.69 billion, a P/E ratio of 48.69 and a beta of 2.06. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56. The firm has a 50 day simple moving average of $839.57 and a two-hundred day simple moving average of $806.45.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. Seagate Technology’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. Sell-side analysts predict that Seagate Technology will post 35.70 earnings per share for the current year.

Insider Buying and Selling at Seagate Technology

In other news, CEO William Mosley sold 97,889 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.14, for a total transaction of $75,584,012.46. Following the completion of the sale, the chief executive officer owned 378,108 shares in the company, valued at approximately $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total value of $41,239,078.40. Following the transaction, the executive vice president directly owned 5,810 shares in the company, valued at approximately $4,543,884.80. This represents a 90.08% 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. In the last three months, insiders have sold 466,959 shares of company stock valued at $378,840,741. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors have recently added to or reduced their stakes in STX. Stewardship Advisors LLC grew its stake in shares of Seagate Technology by 18.0% in the 3rd quarter. Stewardship Advisors LLC now owns 381 shares of the data storage provider’s stock valued at $351,000 after purchasing an additional 58 shares during the last quarter. Invenio Wealth Partners LLC raised its stake in shares of Seagate Technology by 5.9% during the third quarter. Invenio Wealth Partners LLC now owns 360 shares of the data storage provider’s stock worth $332,000 after purchasing an additional 20 shares during the last quarter. Focused Alpha LLC raised its stake in shares of Seagate Technology by 45.9% during the third quarter. Focused Alpha LLC now owns 1,173 shares of the data storage provider’s stock worth $1,082,000 after purchasing an additional 369 shares during the last quarter. Eagle Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 7.5% during the third quarter. Eagle Wealth Advisors LLC now owns 488 shares of the data storage provider’s stock worth $450,000 after purchasing an additional 34 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Seagate Technology by 5.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 58,170 shares of the data storage provider’s stock worth $53,653,000 after purchasing an additional 3,244 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.