Seagate Technology (NASDAQ:STX) Price Target Raised to $360.00

Seagate Technology (NASDAQ:STX) had its price target raised by Wells Fargo & Company from $250.00 to $360.00 in a research note released on Thursday,Benzinga reports. They currently have an equal weight rating on the data storage provider’s stock.

A number of other analysts also recently issued reports on STX. Benchmark raised their target price on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. UBS Group cut their price target on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Wedbush boosted their price objective on Seagate Technology from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Citigroup increased their target price on shares of Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Finally, China Renaissance initiated coverage on shares of Seagate Technology in a research report on Friday, December 5th. They issued a “buy” rating and a $325.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $320.39.

Seagate Technology Stock Performance

Shares of STX stock opened at $326.23 on Thursday. The firm has a market cap of $69.67 billion, a price-to-earnings ratio of 41.88, a P/E/G ratio of 1.28 and a beta of 1.60. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $335.02. The firm’s 50-day simple moving average is $283.10 and its two-hundred day simple moving average is $223.37.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were paid a $0.74 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 0.9%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio is currently 38.00%.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $270.00, for a total value of $1,620,000.00. Following the transaction, the executive vice president directly owned 12,041 shares in the company, valued at $3,251,070. This represents a 33.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie Tilenius sold 2,046 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $266.41, for a total value of $545,074.86. Following the completion of the sale, the director directly owned 12,244 shares in the company, valued at approximately $3,261,924.04. The trade was a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 132,557 shares of company stock worth $36,847,793. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC raised its stake in Seagate Technology by 50.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,003 shares of the data storage provider’s stock valued at $552,000 after purchasing an additional 669 shares in the last quarter. Beaumont Financial Advisors LLC bought a new position in shares of Seagate Technology in the 4th quarter worth $221,000. Earned Wealth Advisors LLC purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $231,000. Retireful LLC bought a new stake in shares of Seagate Technology during the 4th quarter worth $268,000. Finally, Capital Advisors Inc. OK grew its position in Seagate Technology by 82.6% in the fourth quarter. Capital Advisors Inc. OK now owns 2,162 shares of the data storage provider’s stock worth $595,000 after acquiring an additional 978 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

More Seagate Technology News

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

• Positive Sentiment: China Renaissance raised its price target to $452 and maintained a “buy” rating — a large upside (~41% from recent levels) that supports further upside expectations for STX. China Renaissance raises PT to $452
• Positive Sentiment: Barclays bumped its target to $370 and kept an “equal weight” rating — another notable upgrade that adds institutional validation to the stock’s rally. Barclays raises PT to $370
• Positive Sentiment: Wells Fargo raised its target to $360 (still “equal weight”), signaling broader analyst re?rating of Seagate amid stronger end?market demand expectations. Wells Fargo raises PT to $360
• Positive Sentiment: Media coverage and analyst commentary point to an AI?driven memory/mass?storage rally benefiting STX and peers — Susquehanna and others highlighted the sector strength on a recent segment. STX & WDC Gain Analyst Support Amid Surging Memory Chip Rally
• Neutral Sentiment: A Zacks piece lists Seagate among technology solutions beneficiaries (multi?cloud and integrated systems demand) — supportive context but not company?specific new data. 4 Stocks to Watch From a Prospering Technology Solutions Industry
• Neutral Sentiment: Susquehanna formally moved Seagate from “negative” to “neutral” with a $280 target — an upgrade in tone but a target below current market levels, creating a mixed signal for investors. Susquehanna moves STX to neutral, PT $280
• Negative Sentiment: Insider activity: EVP Ban Seng Teh sold 1,412 shares (~$299 avg), trimming his stake. Insider sales can weigh on sentiment even if not large relative to holdings. SEC Form 4: Ban Seng Teh sale

Seagate Technology Company Profile

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.