Seagate Technology (NASDAQ:STX) Stock Keeps Outperform Rating at Wedbush

Seagate Technology (NASDAQ:STX)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report issued on Wednesday, Benzinga reports. They presently have a $1,000.00 target price on the data storage provider’s stock. Wedbush‘s target price suggests a potential upside of 53.29% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Susquehanna upped their target price on shares of Seagate Technology from $775.00 to $875.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Barclays increased their price target on shares of Seagate Technology from $1,000.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Bank of America increased their price target on shares of Seagate Technology from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $1,350.00 price target on shares of Seagate Technology in a research report on Wednesday, July 29th. Twenty-two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $983.44.

Seagate Technology Stock Down 2.3%

NASDAQ:STX traded down $15.48 during mid-day trading on Wednesday, reaching $652.37. 2,045,722 shares of the company were exchanged, compared to its average volume of 4,416,423. Seagate Technology has a 12 month low of $228.61 and a 12 month high of $1,145.00. The company has a fifty day moving average of $809.95 and a 200 day moving average of $682.75.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, topping analysts’ consensus estimates of $7.45 by $0.23. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company earned $2.61 EPS. The firm’s revenue was up 61.0% compared to the same quarter last year. As a group, research analysts forecast that Seagate Technology will post 35.79 EPS for the current fiscal year.

Insider Activity at Seagate Technology

In other news, EVP John Morris sold 15,466 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $772.15, for a total value of $11,942,071.90. Following the completion of the sale, the executive vice president owned 31,132 shares of the company’s stock, valued at approximately $24,038,573.80. The trade was a 33.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Ban Teh sold 52,730 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $782.08, for a total transaction of $41,239,078.40. Following the sale, the executive vice president directly owned 5,810 shares of the company’s stock, valued at $4,543,884.80. This represents a 90.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 467,506 shares of company stock valued at $379,191,992. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Seagate Technology by 2,655.9% during the second quarter. Wellington Management Group LLP now owns 2,414,136 shares of the data storage provider’s stock worth $2,329,641,000 after acquiring an additional 2,326,538 shares in the last quarter. Janus Henderson Group PLC raised its stake in Seagate Technology by 3,872.1% during the first quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after acquiring an additional 943,170 shares in the last quarter. Swedbank AB raised its stake in Seagate Technology by 67.6% during the first quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock worth $277,821,000 after acquiring an additional 285,949 shares in the last quarter. Amundi raised its stake in Seagate Technology by 32.2% during the first quarter. Amundi now owns 965,565 shares of the data storage provider’s stock worth $378,267,000 after acquiring an additional 235,359 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Seagate Technology by 119.7% during the first quarter. Hsbc Holdings PLC now owns 378,527 shares of the data storage provider’s stock worth $147,753,000 after acquiring an additional 206,196 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Seagate reported adjusted earnings of $7.68 per share and revenue of $4.23 billion, exceeding analyst estimates of $7.45 and $4.15 billion, respectively. Revenue increased 61% year over year, while data-center revenue rose 63%, reflecting strong demand tied to artificial-intelligence infrastructure. Seagate Technology Reports Fiscal First Quarter 2027 Financial Results
• Positive Sentiment: Management forecast approximately $4.8 billion of December-quarter revenue and $9.20 in non-GAAP EPS, reportedly above Wall Street expectations. Seagate also cited record free cash flow and customer commitments extending through 2030, supporting the longer-term AI and cloud-storage growth case. Seagate Says It Can’t Make Hard Drives Fast Enough for AI
• Positive Sentiment: The company raised its quarterly dividend 2.7% to $0.76 per share. Wedbush reaffirmed an “outperform” rating with a $1,000 price target, while Morgan Stanley maintained an “overweight” rating and set a $1,148 target. Analysts revise forecasts on Seagate after Q1 results
• Neutral Sentiment: Seagate’s HAMR and SMR storage technologies achieved expanded interoperability with Broadcom systems and validation at Microsoft Azure, potentially improving adoption among hyperscale customers, although the financial impact will take time to develop. Seagate’s HAMR and SMR breakthrough
• Negative Sentiment: Investors focused on slowing shipment growth, potentially moderating margins, and whether AI-related demand can justify Seagate’s elevated valuation. The earnings beat may have been insufficient against already-high expectations, prompting profit-taking after the release. Why is Seagate stock falling despite an earnings beat?
• Negative Sentiment: Susquehanna lowered its price target from $925 to $765 and changed its rating to “neutral,” adding to concerns that much of Seagate’s expected growth may already be reflected in the stock price. Susquehanna Seagate recommendations

About Seagate Technology

Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.

The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.