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

Seagate Technology (NASDAQ:STX) had its price target raised by investment analysts at Mizuho from $875.00 to $1,090.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Mizuho’s price target indicates a potential upside of 24.13% from the company’s previous close.

STX has been the subject of a number of other reports. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $500.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald raised their target price on Seagate Technology from $700.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wedbush increased their price target on shares of Seagate Technology from $700.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Argus boosted their price objective on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Seagate Technology from $525.00 to $775.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $788.29.

Seagate Technology Trading Up 3.6%

Shares of STX stock opened at $878.08 on Monday. The stock has a 50-day moving average of $661.50 and a 200-day moving average of $455.59. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The stock has a market cap of $196.89 billion, a price-to-earnings ratio of 83.82 and a beta of 2.04. Seagate Technology has a 1-year low of $124.63 and a 1-year high of $966.80.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. Seagate Technology’s revenue was up 44.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts forecast that Seagate Technology will post 14.1 earnings per share for the current year.

Insider Buying and Selling

In other Seagate Technology news, Director Prat Bhatt sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $929.88, for a total transaction of $929,880.00. Following the completion of the transaction, the director owned 12,869 shares of the company’s stock, valued at $11,966,625.72. This represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shankar Arumugavelu sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total transaction of $927,680.00. Following the sale, the director directly owned 6,626 shares of the company’s stock, valued at $6,146,807.68. This trade represents a 13.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,187 shares of company stock valued at $108,267,701 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Seagate Technology by 1.6% in the third quarter. Vanguard Group Inc. now owns 28,140,287 shares of the data storage provider’s stock worth $6,642,796,000 after buying an additional 442,749 shares in the last quarter. State Street Corp lifted its position in shares of Seagate Technology by 1.0% in the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares in the last quarter. Morgan Stanley grew its holdings in shares of Seagate Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after purchasing an additional 258,151 shares in the last quarter. Geode Capital Management LLC increased its position in Seagate Technology by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock worth $1,343,683,000 after purchasing an additional 234,436 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Seagate Technology by 8.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock worth $879,338,000 after buying an additional 243,551 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.