Seagate Technology (NASDAQ:STX) Shares Up 2.2% After Analyst Upgrade

20 Oct 2026, 17:00 by Doug Wharley · The Cerbat Gem

Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s stock price was up 2.2% during trading on Tuesday after Morgan Stanley raised their price target on the stock from $1,187.00 to $1,200.00. Morgan Stanley currently has an overweight rating on the stock. Seagate Technology traded as high as $680.70 and last traded at $675.13. Approximately 3,993,221 shares changed hands during trading, a decline of 9% from the average daily volume of 4,397,620 shares. The stock had previously closed at $660.81.

A number of other research firms also recently commented on STX. JPMorgan Chase & Co. increased their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. TD Cowen increased their price objective on shares of Seagate Technology from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $1,300.00 price target on shares of Seagate Technology in a report on Wednesday, July 29th. Susquehanna increased their target price on shares of Seagate Technology from $775.00 to $875.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $973.92.

Read Our Latest Analysis on Seagate Technology

Insiders Place Their Bets

In related news, EVP John Morris sold 9,354 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $877.91, for a total transaction of $8,211,970.14. Following the sale, the executive vice president owned 22,693 shares of the company’s stock, valued at $19,922,411.63. This trade represents a 29.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Gianluca Romano sold 49,984 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $772.16, for a total value of $38,595,645.44. Following the sale, the chief financial officer owned 70,756 shares in the company, valued at approximately $54,634,952.96. This trade represents a 41.40% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 466,959 shares of company stock valued at $378,840,741. 0.51% of the stock is owned by corporate insiders.

Trending Headlines about Seagate Technology

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

Positive Sentiment: Morgan Stanley raised its Seagate price target to $1,200 from $1,187 and reaffirmed an Overweight rating. Based on the referenced share price of $675.13, the target implies approximately 77.7% upside. Morgan Stanley raises Seagate price target
Positive Sentiment: Analyst Erik Woodring expects Seagate to deliver strong quarterly results and better-than-expected guidance, and said Morgan Stanley would be an “aggressive buyer” of the stock. The outlook suggests continued demand for mass-capacity storage could support results despite recent sector weakness. Morgan Stanley sees upside for Seagate
Positive Sentiment: The bullish view is supported by Seagate’s latest reported quarter, in which revenue increased 48.5% year over year and earnings exceeded analyst expectations. The company also provided strong fiscal 2027 first-quarter EPS guidance.
Neutral Sentiment: Seagate has been one of the strongest performers in the technology hardware, storage and peripherals group over the past five years, outperforming nearly all industry peers. Investors will now look for upcoming earnings and guidance to determine whether that leadership can continue. Seagate industry performance analysis
Negative Sentiment: Risks remain, including concerns about artificial-intelligence financing, elevated competition and recent pressure across hard-drive stocks. A weaker earnings report or disappointing guidance could challenge Morgan Stanley’s aggressive outlook. Morgan Stanley outlook on Seagate and Western Digital

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of 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 valued at $2,329,641,000 after acquiring an additional 2,326,538 shares during the last quarter. National Pension Service raised its position in Seagate Technology by 0.8% during the 2nd quarter. National Pension Service now owns 834,705 shares of the data storage provider’s stock worth $805,490,000 after purchasing an additional 6,944 shares during the last quarter. Janus Henderson Group PLC raised its position in Seagate Technology by 3,872.1% during the 1st quarter. Janus Henderson Group PLC now owns 967,528 shares of the data storage provider’s stock worth $378,985,000 after purchasing an additional 943,170 shares during the last quarter. Amundi grew its position in shares of Seagate Technology by 32.2% in the 1st quarter. Amundi now owns 965,565 shares of the data storage provider’s stock valued at $378,267,000 after buying an additional 235,359 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Seagate Technology by 67.6% in the 1st quarter. Swedbank AB now owns 709,160 shares of the data storage provider’s stock valued at $277,821,000 after buying an additional 285,949 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

The stock has a market cap of $153.52 billion, a P/E ratio of 48.64 and a beta of 2.06. The business has a 50-day simple moving average of $839.57 and a 200 day simple moving average of $806.45. The company has a current ratio of 1.67, a quick ratio of 1.17 and a debt-to-equity ratio of 1.56.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.61. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. Seagate Technology had a return on equity of 369.98% and a net margin of 26.11%. The firm’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, analysts forecast that Seagate Technology Holdings PLC will post 35.70 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Thursday, September 24th were issued a dividend of $0.74 per share. The ex-dividend date was Thursday, September 24th. This represents a $2.96 annualized dividend and a yield of 0.4%. Seagate Technology’s dividend payout ratio (DPR) is presently 21.33%.

About Seagate Technology

(Get Free Report)

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.