Barclays Raises Seagate Technology (NASDAQ:STX) Price Target to $180.00

Seagate Technology (NASDAQ:STX) had its price target increased by analysts at Barclays from $125.00 to $180.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the data storage provider’s stock. Barclays‘s price target points to a potential upside of 5.98% from the stock’s previous close.

A number of other brokerages also recently issued reports on STX. UBS Group increased their price target on Seagate Technology from $85.00 to $155.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. Rosenblatt Securities increased their target price on Seagate Technology from $185.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Seagate Technology in a report on Thursday, July 10th. They set a “buy” rating and a $170.00 target price for the company. Finally, Benchmark increased their target price on Seagate Technology from $128.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $154.50.

Seagate Technology Price Performance

STX stock traded up $2.60 during mid-day trading on Thursday, reaching $169.84. 700,322 shares of the company’s stock were exchanged, compared to its average volume of 3,850,033. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.50. The stock’s 50 day moving average is $149.74 and its 200 day moving average is $114.78. Seagate Technology has a 12-month low of $63.19 and a 12-month high of $170.88.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.14. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.Seagate Technology’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. Seagate Technology has set its Q1 2026 guidance at 2.100-2.500 EPS. On average, research analysts forecast that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Seagate Technology announced that its board has approved a stock repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 1,724 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $151.61, for a total value of $261,375.64. Following the completion of the sale, the executive vice president owned 6,147 shares of the company’s stock, valued at approximately $931,946.67. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the sale, the chief executive officer directly owned 478,912 shares of the company’s stock, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 314,195 shares of company stock worth $40,243,793 in the last three months. Company insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Institutional investors have recently modified their holdings of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at $27,000. Rakuten Securities Inc. grew its stake 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 in the last quarter. MTM Investment Management LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at $29,000. Ameriflex Group Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $26,000. Finally, Elequin Capital LP acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $27,000. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

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.