Seagate Technology (NASDAQ:STX) Price Target Raised to $400.00

Seagate Technology (NASDAQ:STX) had its price objective hoisted by Bank of America from $320.00 to $400.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the data storage provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Susquehanna raised Seagate Technology from a “negative” rating to a “neutral” rating and boosted their target price for the stock from $150.00 to $280.00 in a report on Friday, January 16th. The Goldman Sachs Group boosted their price objective on Seagate Technology from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Evercore ISI upped their price objective on Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, October 13th. BNP Paribas Exane lowered their target price on Seagate Technology from $240.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Robert W. Baird upped their price target on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $352.00.

Seagate Technology Trading Up 0.7%

Seagate Technology stock opened at $346.53 on Tuesday. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $350.05. The stock has a market cap of $74.00 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.04 and a beta of 1.60. The company’s 50-day moving average price is $287.40 and its two-hundred day moving average price is $228.02.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were paid a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 0.9%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is 38.00%.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 1,412 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $299.31, for a total value of $422,625.72. Following the completion of the sale, the executive vice president owned 13,693 shares in the company, valued at approximately $4,098,451.83. This represents a 9.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the completion of the transaction, the chief executive officer directly owned 429,895 shares of the company’s stock, valued at $122,760,816.20. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 132,557 shares of company stock valued at $36,847,793. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. acquired a new position in Seagate Technology during the second quarter worth $27,000. Rakuten Securities Inc. increased its holdings 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 valued at $27,000 after acquiring an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. MTM Investment Management LLC bought a new position in shares of Seagate Technology in the 2nd quarter valued at approximately $29,000. Finally, First Horizon Corp acquired a new stake in Seagate Technology in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

More Seagate Technology News

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

• Positive Sentiment: Seagate’s areal-density roadmap and HAMR-powered Mozaic drives are highlighted as keeping HDDs cost-efficient as hyperscalers scale AI storage beyond 36TB — technical progress that supports higher ASPs and long-term capacity demand. Read More.
• Positive Sentiment: Analysts and research pieces point to Seagate’s history of earnings beats and the current setup (pricing power, demand from cloud/AI customers) that make another potential beat likely — a catalyst for upward revisions. Read More.
• Positive Sentiment: Sector rotation into storage: market commentary says institutional money is moving from GPUs/chips into memory and storage as AI shifts emphasis to massive data capacity — a tailwind for HDD demand alongside SSD markets. Read More.
• Positive Sentiment: Multiple broker actions (Exane BNP Paribas upgraded to strong?buy/outperform with a ~$380 target; Rosenblatt, UBS and Bank of America published bullish notes/price-target increases) are boosting sentiment and have helped push STX to a new 12?month high. Read More.
• Neutral Sentiment: Valuation and positioning pieces review STX after the upgrades — analysts debate upside vs. high multiples (STX trades with elevated PE and near its 52?week high), so some investors may pause to reassess entry points. Read More.
• Negative Sentiment: Not all shops are uniformly bullish — Zacks Research cut its rating from strong?buy to hold, which could temper momentum among more conservative investors. Read More.

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.