Evercore Issues Positive Forecast for Seagate Technology (NASDAQ:STX) Stock Price

Seagate Technology (NASDAQ:STX) had its price objective lifted by Evercore from $550.00 to $750.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the data storage provider’s stock.

A number of other brokerages have also weighed in on STX. Barclays raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $425.00 to $625.00 in a research report on Wednesday, April 22nd. BNP Paribas Exane boosted their target price on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, February 4th. Rosenblatt Securities boosted their target price on Seagate Technology from $500.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price target on Seagate Technology from $270.00 to $505.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $680.79.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $643.30 on Wednesday. Seagate Technology has a fifty-two week low of $85.47 and a fifty-two week high of $697.00. The business has a 50-day simple moving average of $448.93 and a two-hundred day simple moving average of $353.84. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.72 and a current ratio of 1.12. The firm has a market cap of $140.29 billion, a price-to-earnings ratio of 72.77, a price-to-earnings-growth ratio of 0.99 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.63. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. Seagate Technology’s revenue was up 44.1% on a year-over-year basis. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, analysts expect that Seagate Technology will post 12.13 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, June 24th. Seagate Technology’s payout ratio is 33.48%.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 925 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $448.02, for a total transaction of $414,418.50. Following the completion of the sale, the director directly owned 223 shares in the company, valued at approximately $99,908.46. The trade was a 80.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kian Fatt Chong sold 5,846 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $416.48, for a total transaction of $2,434,742.08. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 91,355 shares of company stock worth $37,544,394. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Integrated Wealth Concepts LLC increased its holdings in Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock worth $610,000 after acquiring an additional 4,499 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Seagate Technology in the 2nd quarter worth approximately $262,000. Cerity Partners LLC increased its holdings in Seagate Technology by 25.8% in the 2nd quarter. Cerity Partners LLC now owns 36,682 shares of the data storage provider’s stock worth $5,294,000 after acquiring an additional 7,517 shares in the last quarter. Sei Investments Co. increased its holdings in Seagate Technology by 64.8% in the 2nd quarter. Sei Investments Co. now owns 8,543 shares of the data storage provider’s stock worth $1,233,000 after acquiring an additional 3,358 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Seagate Technology by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,887 shares of the data storage provider’s stock worth $18,458,000 after acquiring an additional 462 shares in the last quarter. 92.87% of the stock is 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: Q3 beat and strong guidance — Seagate reported $4.10 EPS and $3.11B revenue (both above consensus), generated roughly $1B in free cash flow, and guided Q4 EPS to $4.80–$5.20 and revenue to $3.4–$3.6B, well above Street estimates. This is the primary catalyst for the stock’s move higher. Seagate Q3 Press Release
• Positive Sentiment: AI-driven demand and pricing strength — Multiple reports and analyst commentary point to sustained enterprise spending on AI infrastructure that favors Seagate’s mass?capacity nearline HDDs and strengthens pricing/margins, supporting a re?rating of the stock. Reuters: Storage stocks jump
• Positive Sentiment: Wall Street lifts targets — A wave of price-target increases (including Rosenblatt to $1,000, JPMorgan to $775, Barclays to $750 and others) boosted sentiment and provided fresh buying interest, reinforcing the upside narrative. Rosenblatt $1,000 target
• Neutral Sentiment: Dividend declared — Seagate announced a quarterly dividend of $0.74/share (record June 24, payable July 7); modest yield and mostly signals capital return discipline rather than a major catalyst.
• Neutral Sentiment: Sector momentum context — Broad coverage notes the memory/storage group is rallying on AI optimism, which helps Seagate but also raises expectations for peers (reads: Investopedia and sector pieces). Investopedia: Memory stocks rally
• Negative Sentiment: Some caution remains — A few firms maintained neutral ratings or set targets below the intraday price (e.g., UBS, Susquehanna), highlighting valuation and execution risk if AI spending softens. Benzinga: analyst notes

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.