Seagate Technology (NASDAQ:STX) Stock Rating Reaffirmed by Wedbush

Seagate Technology (NASDAQ:STX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $150.00 target price on the data storage provider’s stock. Wedbush’s price target would indicate a potential upside of 44.26% from the stock’s previous close. Wedbush also issued estimates for Seagate Technology’s Q1 2025 earnings at $1.64 EPS, Q2 2025 earnings at $2.13 EPS, Q3 2025 earnings at $2.64 EPS, Q4 2025 earnings at $2.77 EPS, FY2025 earnings at $9.16 EPS, Q1 2026 earnings at $2.88 EPS, Q2 2026 earnings at $3.16 EPS, Q3 2026 earnings at $3.62 EPS, Q4 2026 earnings at $4.09 EPS and FY2026 earnings at $13.76 EPS.

Several other equities research analysts also recently weighed in on the company. TD Cowen increased their price objective on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Rosenblatt Securities upped their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird raised their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, UBS Group boosted their price target on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.83.

Seagate Technology Price Performance

Shares of STX opened at $103.98 on Wednesday. Seagate Technology has a 1-year low of $64.12 and a 1-year high of $115.32. The stock has a market cap of $21.83 billion, a PE ratio of -80.60 and a beta of 1.04. The firm has a fifty day moving average price of $105.13 and a 200 day moving average price of $99.58.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) EPS. As a group, equities analysts expect that Seagate Technology will post 7.09 EPS for the current fiscal year.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,398 shares of company stock worth $23,238,106. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently bought and sold shares of STX. Vanguard Group Inc. raised its holdings in shares of Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after acquiring an additional 746,395 shares during the last quarter. Delta Global Management LP acquired a new position in Seagate Technology in the 1st quarter valued at about $33,478,000. Point72 Hong Kong Ltd purchased a new position in Seagate Technology in the 2nd quarter valued at about $35,349,000. Clearbridge Investments LLC boosted its stake in shares of Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the last quarter. Finally, Duquesne Family Office LLC grew its holdings in shares of Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after buying an additional 316,295 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.