Seagate Technology’s (STX) Outperform Rating Reiterated at Wedbush

Seagate Technology (NASDAQ:STX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $1,000.00 target price on the data storage provider’s stock. Wedbush‘s target price suggests a potential upside of 47.28% from the company’s previous close.

Several other research firms have also commented on STX. Bank of America raised their price target on Seagate Technology from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Wells Fargo & Company cut their price objective on Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating on the stock in a report on Friday, October 16th. Rosenblatt Securities cut their price objective on Seagate Technology from $1,400.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday. Zacks Research lowered Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Morgan Stanley lowered their target price on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating for the company in a report on Wednesday. Twenty-two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $981.64.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $11.12 on Wednesday, reaching $678.97. The company had a trading volume of 5,275,445 shares, compared to its average volume of 4,433,560. The firm’s 50 day moving average price is $809.95 and its two-hundred day moving average price is $682.75. Seagate Technology has a 52-week low of $228.61 and a 52-week high of $1,145.00.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 earnings per share for the quarter, topping analysts’ consensus estimates of $7.45 by $0.23. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the business posted $2.61 EPS. The business’s revenue for the quarter was up 61.0% on a year-over-year basis. As a group, equities research analysts expect that Seagate Technology will post 35.79 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Ban Teh sold 52,730 shares of Seagate Technology 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 completion of the transaction, the executive vice president owned 5,810 shares in the company, valued at approximately $4,543,884.80. This trade represents a 90.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Mosley sold 97,889 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.14, for a total value of $75,584,012.46. Following the transaction, the chief executive officer directly owned 378,108 shares of the company’s stock, valued at approximately $291,952,311.12. This represents a 20.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 467,506 shares of company stock valued at $379,191,992. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Seagate Technology

Large investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC grew its holdings in Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 12 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $39,000. One River Asset Management LLC raised its holdings in shares of Seagate Technology by 50.0% in the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock valued at $42,000 after purchasing an additional 15 shares in the last quarter. Creative Capital Management Investments LLC raised its holdings in shares of Seagate Technology by 104.5% in the 3rd quarter. Creative Capital Management Investments LLC now owns 45 shares of the data storage provider’s stock valued at $42,000 after purchasing an additional 23 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at $42,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Seagate reported fiscal Q1 revenue of $4.23 billion, up 61% year over year, and non-GAAP earnings of $7.68 per share, exceeding Wall Street estimates. Record free cash flow and a sharp increase in profitability underscore strong operating momentum. STX Q1 Earnings & Revenues Beat, Record Cash Flow Boosts Profitability
• Positive Sentiment: Management guided to approximately $4.8 billion in fiscal Q2 revenue and $9.20 in non-GAAP EPS, supported by data-center demand, favorable pricing and continued adoption of its HAMR-based Mozaic drives. Customer supply commitments extending through 2030 provide visibility for future growth. Seagate Q1 Earnings Call Highlights Strong Demand and HAMR Expansion
• Positive Sentiment: AI infrastructure remains a key demand catalyst: data-center revenue rose 63% year over year, while HAMR and SMR interoperability advances with Broadcom systems and Microsoft Azure could accelerate hyperscale adoption. Seagate also raised its quarterly dividend 2.7% to $0.76 per share. Seagate’s HAMR + SMR Breakthrough
• Neutral Sentiment: Analyst opinion remains broadly constructive, with Wedbush reaffirming an outperform rating and a $1,000 target, while Morgan Stanley retained overweight. However, TD Cowen cut its target to $900, Susquehanna reduced its target to $765 and Summit Insights downgraded the stock to hold, reflecting a more cautious risk-reward assessment. Analyst Forecast Revisions
• Negative Sentiment: The earnings beat may have fallen short of elevated investor expectations after STX’s substantial prior rally. Reports cite concerns about slowing shipment growth, potentially moderating margins and valuation, prompting profit-taking even as the outlook remains strong. Why is Seagate stock falling despite earnings beat?

Seagate Technology Company Profile

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.