TD Cowen Forecasts Strong Price Appreciation for Seagate Technology (NASDAQ:STX) Stock

Seagate Technology (NASDAQ:STX) had its price objective increased by stock analysts at TD Cowen from $340.00 to $500.00 in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the data storage provider’s stock. TD Cowen’s target price would suggest a potential upside of 34.50% from the company’s current price.

A number of other analysts have also commented on STX. Bank of America lifted their target price on shares of Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Evercore ISI lifted their price objective on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. UBS Group increased their target price on Seagate Technology from $230.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Barclays boosted their target price on Seagate Technology from $240.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Seagate Technology from $280.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $364.73.

Seagate Technology Stock Performance

Shares of STX opened at $371.76 on Wednesday. The business’s fifty day moving average price is $293.46 and its two-hundred day moving average price is $233.69. The firm has a market capitalization of $79.39 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 1.06 and a beta of 1.60. Seagate Technology has a 52 week low of $63.19 and a 52 week high of $383.88.

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

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the 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 completion of the transaction, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $285.56, for a total value of $5,711,200.00. Following the completion of the transaction, the chief executive officer owned 429,895 shares of the company’s stock, valued at $122,760,816.20. The trade was a 4.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 132,557 shares of company stock worth $36,847,793. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth about $27,000. Salomon & Ludwin LLC raised its stake in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares during the period. Rakuten Securities Inc. lifted its holdings in 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 purchasing an additional 168 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology during the fourth quarter worth $28,000. Finally, Avion Wealth increased its holdings 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 valued at $28,000 after purchasing an additional 79 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology News Summary

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

• Positive Sentiment: Q2 results beat expectations — Seagate reported $3.11 EPS vs. consensus ~ $2.77 and revenue of $2.83B (up 21.5% YoY); management cited record margins and operational execution as tailwinds. Seagate Technology Reports Fiscal Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised Q3 FY26 guidance well above Wall Street — EPS guide of $3.20–$3.60 (vs. consensus ~3.01) and revenue guide ~$2.8–3.0B (vs. est. ~$2.7B), citing strong enterprise demand for storage tied to AI deployments. Seagate forecasts quarterly results above estimates on strong data storage demand
• Positive Sentiment: Analysts pushed ratings and price targets higher — Mizuho raised its target to $400 (outperform) and at least one upgrade/coverage note helped lift trading. Seagate Technology (NASDAQ:STX) Trading 6.5% Higher on Analyst Upgrade
• Positive Sentiment: Board approved a quarterly dividend ($0.74 per share payment in April), adding a modest income component that supports investor confidence (annualized yield ~0.8%).
• Neutral Sentiment: High-level commentary and transcripts are available — the earnings call transcript and investor slide deck provide more color on capacity, margin drivers and AI-related demand, useful for due diligence. Seagate Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Market context: the stock has run up strongly on AI demand and is trading near its 52-week high, prompting technical commentary about resistance levels and investor debate over sustainability. Seagate stock hits key resistance ahead of earnings
• Negative Sentiment: Some coverage notes caution on short-term profit-taking — commentators observed the stock “cooling off” in parts of the session despite strong results, suggesting volatility after the run-up. Seagate cools off despite strong Q2 results, guidance

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.