Seagate Technology (NASDAQ: STX) has received a significant boost in its price target from Rosenblatt Securities, which raised the target from $370.00 to $500.00. This change reflects a growing confidence in the data storage provider’s performance, as indicated in a report released on Wednesday.
Several other financial institutions have also adjusted their recommendations for Seagate Technology. UBS Group increased its price objective from $230.00 to $335.00, maintaining a “neutral” rating on January 20. Similarly, Goldman Sachs Group raised its target from $280.00 to $310.00 and issued a “buy” rating on January 9. Other notable adjustments include Loop Capital, which lifted its price goal from $350.00 to $465.00, and Mizuho, which boosted its price target from $370.00 to $400.00. Citigroup also raised its target from $320.00 to $385.00 on January 20.
Currently, two analysts have rated Seagate with a “Strong Buy” rating, while seventeen have given it a “Buy” rating. Five analysts have assigned a “Hold” rating. According to data from MarketBeat, the average rating for Seagate Technology stands at a “Moderate Buy” with a consensus price target of $392.35.
Recent Stock Performance and Earnings Report
On Wednesday, Seagate Technology’s stock opened at $442.93. The company boasts a market capitalization of $94.59 billion and a price-to-earnings (P/E) ratio of 56.86. Over the past year, Seagate’s stock has fluctuated significantly, with a twelve-month low of $63.19 and a high of $449.50. Its moving averages include a 50-day price of $297.13 and a 200-day price of $235.15.
Seagate Technology last reported its quarterly earnings on January 27, revealing earnings per share (EPS) of $3.11. This figure exceeded analyst expectations of $2.77 by $0.34. The company reported a total revenue of $2.83 billion, surpassing the consensus estimate of $2.73 billion. The firm recorded a net margin of 19.59% and a negative return on equity of 462.62%. This quarter’s revenue showed an increase of 21.5% compared to the same period last year, when the EPS was $2.03. Seagate has set a guidance for Q3 2026, projecting EPS between 3.200 and 3.600.
Dividend Announcement and Insider Transactions
In addition to its strong earnings report, Seagate Technology announced a quarterly dividend of $0.74 per share, which will be paid on April 8. Shareholders of record on March 25 will receive this dividend, resulting in an annualized yield of 0.7%. The current dividend payout ratio for the company is 38.00%.
Insider trading activity has also been notable. Director Yolanda Lee Conyers sold 750 shares of Seagate stock on December 2 at an average price of $272.91, totaling $204,682.50. Following this transaction, Conyers holds 5,601 shares valued at approximately $1.53 million. Additionally, CEO William D. Mosley sold 20,000 shares on January 2 for a total of $5.71 million. This sale resulted in a 4.45% decrease in the CEO’s ownership, leaving him with 429,895 shares valued at around $122.76 million.
Over the past three months, insiders have sold a total of 125,479 shares of the company’s stock, amounting to nearly $34.92 million. Currently, insider ownership stands at 0.79%.
Recent activity from institutional investors indicates a growing interest in Seagate Technology. Several hedge funds have adjusted their positions in the company. Diversified Enterprises LLC acquired a new position valued at approximately $227,000 in the fourth quarter. Turtle Creek Wealth Advisors LLC raised its holdings by 19.0%, owning 1,257 shares worth $346,000 after acquiring additional shares during the same period. Teacher Retirement System of Texas increased its stake by 293.8%, now owning 135,737 shares valued at $37.38 million.
The overall sentiment surrounding Seagate Technology remains positive, driven by robust earnings and strong demand for storage solutions, particularly related to artificial intelligence. The company is reportedly “sold out” through 2026, indicating solid revenue visibility moving forward.
