Seagate Technology (NASDAQ:STX) Given New $1,000.00 Price Target at Rosenblatt Securities

Seagate Technology (NASDAQ:STX) had its price objective boosted by analysts at Rosenblatt Securities from $500.00 to $1,000.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the data storage provider’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 72.70% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. UBS Group raised their price objective on shares of Seagate Technology from $440.00 to $515.00 and gave the stock a “neutral” rating in a report on Tuesday, April 21st. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $360.00 to $450.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 28th. Argus raised their price objective on shares of Seagate Technology from $300.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, China Renaissance lifted their price objective on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $556.42.

Seagate Technology Price Performance

NASDAQ:STX opened at $579.03 on Wednesday. The company has a 50-day moving average of $444.55 and a 200-day moving average of $351.81. The company has a market capitalization of $126.27 billion, a price-to-earnings ratio of 65.50, a PEG ratio of 0.99 and a beta of 1.61. Seagate Technology has a 52 week low of $81.22 and a 52 week high of $607.89. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 28th. The data storage provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.63. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.94 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. During the same period last year, the firm earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts anticipate that Seagate Technology will post 12.13 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ban Seng Teh sold 20,195 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $442.29, for a total transaction of $8,932,046.55. Following the completion of the sale, the executive vice president owned 3,092 shares in the company, valued at $1,367,560.68. This trade represents a 86.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of Seagate Technology stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $416.48, for a total value of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 111,550 shares of company stock worth $46,476,441. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STX. Salomon & Ludwin LLC raised its holdings in shares of Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after buying an additional 51 shares during the last quarter. Rakuten Securities Inc. raised its holdings in shares of Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. Avion Wealth raised its holdings in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of Seagate Technology in the fourth quarter valued at about $28,000. 92.87% of the stock is owned by institutional investors.

Key Seagate Technology News

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

• Positive Sentiment: Q3 results materially beat estimates — Seagate reported $4.10 EPS vs. ~$3.47 consensus and $3.11B revenue (up ~44% YoY); management cited record margins and ~ $1B free cash flow. Seagate Q3 Press Release
• Positive Sentiment: Company raised FYQ4 guidance well above Street expectations — EPS guide $4.80–5.20 (vs. ~3.89 est) and revenue $3.4B–$3.6B, signaling sustained AI/data?center spending that underpins near?term demand. Reuters: Seagate Forecasts Upbeat Quarter
• Positive Sentiment: Wall Street is responding with price?target raises and buy ratings (multiple firms to ~$700), reflecting belief in structural HDD tightness, HAMR ramp and AI?driven capacity demand. Price Target Coverage
• Neutral Sentiment: Seagate declared a quarterly dividend of $0.74 per share (record June 24; payable July 7), a small yield (~0.5%) that modestly supports total return but is not the primary driver of the move.
• Neutral Sentiment: Investors can review the earnings call and slide deck for management detail on AI exposure, HAMR rollout and backlog dynamics. Earnings Call Transcript
• Negative Sentiment: Despite the positive print, the stock is underperforming some peers intraday and faces concerns around stretched valuation (high P/E) and heavy leverage — factors that can amplify volatility if AI capex guidance softens. MarketWatch: Underperformance
• Negative Sentiment: Some analysts warn AI spending could normalize and create downside if enterprise capex slows; watch commentary and orders in upcoming quarters for confirmation. FXEmpire: Caution on AI Spending

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.