Seagate Technology (NASDAQ:STX) Given New $620.00 Price Target at Sanford C. Bernstein
by Kim Johansen · The Markets DailySeagate Technology (NASDAQ:STX – Get Free Report) had its target price increased by investment analysts at Sanford C. Bernstein from $500.00 to $620.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 24.42% from the stock’s current price.
Several other analysts also recently weighed in on the company. Wedbush raised their target price on Seagate Technology from $290.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Susquehanna upgraded Seagate Technology from a “negative” rating to a “neutral” rating and raised their target price for the company from $150.00 to $280.00 in a research note on Friday, January 16th. Barclays raised their target price on Seagate Technology from $370.00 to $425.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Benchmark raised their target price on Seagate Technology from $255.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, Evercore raised their target price on Seagate Technology from $330.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $473.92.
Check Out Our Latest Analysis on STX
Seagate Technology Stock Up 0.4%
Shares of NASDAQ STX opened at $498.30 on Thursday. Seagate Technology has a 12-month low of $67.63 and a 12-month high of $517.18. The company has a market cap of $108.66 billion, a P/E ratio of 56.43, a P/E/G ratio of 0.95 and a beta of 1.61. The company has a current ratio of 1.12, a quick ratio of 0.72 and a debt-to-equity ratio of 7.63. The stock has a fifty day moving average price of $409.24 and a 200 day moving average price of $319.96.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The data storage provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.34. Seagate Technology had a negative return on equity of 936.38% and a net margin of 19.59%.The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the firm earned $2.03 EPS. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Research analysts anticipate that Seagate Technology will post 6.83 EPS for the current fiscal year.
Insider Buying and Selling at Seagate Technology
In other Seagate Technology news, EVP Ban Seng Teh sold 20,195 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $442.29, for a total value of $8,932,046.55. Following the transaction, the executive vice president owned 3,092 shares of the company’s stock, valued at $1,367,560.68. This trade represents a 86.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Ci Lee sold 673 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $348.85, for a total transaction of $234,776.05. Following the completion of the transaction, the executive vice president directly owned 257 shares in the company, valued at $89,654.45. This represents a 72.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 113,635 shares of company stock valued at $47,133,843. Corporate insiders own 0.79% of the company’s stock.
Hedge Funds Weigh In On Seagate Technology
Large investors have recently bought and sold shares of the business. Salomon & Ludwin LLC lifted its holdings in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the fourth quarter worth about $28,000. Concord Wealth Partners bought a new position in Seagate Technology in the fourth quarter worth about $28,000. Avion Wealth lifted its holdings in Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Quarry LP bought a new position in Seagate Technology in the fourth quarter worth about $31,000. Institutional investors own 92.87% of the company’s stock.
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.