Seagate Technology (NASDAQ:STX) Given New $450.00 Price Target at Wells Fargo & Company

Seagate Technology (NASDAQ:STX) had its price target increased by equities researchers at Wells Fargo & Company from $360.00 to $450.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the data storage provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.74% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Wedbush upped their price objective on shares of Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Benchmark upped their price target on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Argus increased their target price on shares of Seagate Technology from $170.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 30th. China Renaissance raised 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. Finally, Zacks Research downgraded shares of Seagate Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $389.09.

Seagate Technology Stock Up 16.7%

Seagate Technology stock traded up $62.04 during mid-day trading on Wednesday, hitting $433.80. 5,943,222 shares of the company’s stock traded hands, compared to its average volume of 3,977,542. Seagate Technology has a one year low of $63.19 and a one year high of $442.49. The company has a market cap of $92.64 billion, a PE ratio of 56.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The firm has a 50 day moving average price of $293.46 and a 200 day moving average price of $233.69.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Seagate Technology had a net margin of 17.92% and a negative return on equity of 297.87%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. On average, analysts expect that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephanie Tilenius sold 2,046 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $266.41, for a total transaction of $545,074.86. Following the sale, the director owned 12,244 shares in the company, valued at $3,261,924.04. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total transaction of $204,682.50. Following the sale, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. The trade was a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 132,557 shares of company stock valued at $36,847,793 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in Seagate Technology during the second quarter valued at $27,000. Salomon & Ludwin LLC increased its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. purchased a new stake in Seagate Technology during the 4th quarter worth approximately $28,000. Finally, Avion Wealth boosted its stake 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 worth $28,000 after acquiring an additional 79 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

More Seagate Technology News

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

• Positive Sentiment: Q2 beat and upbeat guidance — Seagate reported EPS $3.11 vs. ~$2.77 consensus and revenue $2.83B, delivered record gross and operating margins, and set Q3 EPS guidance of $3.20–3.60 (above Street estimates), citing strong AI/data-center demand. Seagate Technology Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Analyst upgrades and higher price targets — Multiple firms raised ratings/targets (TD Cowen & Rosenblatt to $500; Mizuho to $400), signaling increased sell-side conviction that Seagate will benefit from sustained AI-led capacity demand. Seagate Technology (NASDAQ:STX) Trading 6.5% Higher on Analyst Upgrade
• Positive Sentiment: High-profile bullish commentary — Broad market coverage and comments (e.g., Jim Cramer) highlighting supply shortages and strong secular demand have supported momentum and investor sentiment. Seagate (STX) is Facing a Shortage That Can’t Be Met, Says Jim Cramer
• Neutral Sentiment: Dividend announced — Seagate declared a quarterly dividend of $0.74 per share (record March 25; payable April 8), a modest yield that supports income-minded holders but is not the primary catalyst for the move.
• Neutral Sentiment: Earnings materials & call transcript available — Detailed call and slide deck were posted (useful for modelers and quant traders assessing margins and capacity ramp timing). Seagate Technology Holdings plc (NASDAQ:STX) Q2 2026 Earnings Call Transcript
• Negative Sentiment: Momentum/valuation risk — The stock has run up sharply into key resistance and sports a rich valuation vs. history; some coverage notes traders are taking profits despite strong results. Short-term pullback risk exists if execution or orders slow. Seagate Technology stock hits key resistance ahead of its earnings: buy or sell?
• Negative Sentiment: Early profit-taking reported — Some outlets flagged that the stock “cooled off” in parts of the session after the headline beat, indicating mixed intraday flows and the potential for volatility despite fundamentally strong results. Seagate Technology cools off despite strong Q2 results, guidance

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.