Seagate Technology (NASDAQ:STX) Stock Price Target Cut by TD Cowen

Seagate Technology (NASDAQ:STX) had its price objective decreased by stock analysts at TD Cowen from $1,000.00 to $900.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the data storage provider’s stock. TD Cowen‘s price target points to a potential upside of 34.76% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Evercore reissued an “outperform” rating on shares of Seagate Technology in a research report on Wednesday. Argus boosted their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Seagate Technology from $1,180.00 to $865.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Morgan Stanley decreased their target price on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup increased their price target on Seagate Technology from $1,240.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $983.44.

Seagate Technology Price Performance

Shares of STX opened at $667.85 on Wednesday. The stock’s 50-day simple moving average is $809.95 and its 200 day simple moving average is $682.75. Seagate Technology has a 52-week low of $217.67 and a 52-week high of $1,145.00.

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 the consensus estimate of $7.45 by $0.23. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.61 EPS. Sell-side analysts anticipate that Seagate Technology will post 35.79 earnings per share for the current year.

Insider Transactions at Seagate Technology

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

Institutional Trading of Seagate Technology

Large investors have recently made changes to their positions in the business. Retirement Wealth Solutions LLC raised its position in shares of Seagate Technology by 70.6% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after buying an additional 12 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock valued at $579,000 after purchasing an additional 13 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Seagate Technology by 4.6% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock valued at $295,000 after purchasing an additional 14 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Seagate Technology by 23.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares during the period. Finally, One River Asset Management LLC boosted its holdings in shares of Seagate Technology by 50.0% in the 3rd quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after purchasing an additional 15 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Summary

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

Seagate Technology Company Profile

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.