Seagate Technology (NASDAQ:STX) Stock Price Up 1.2% Following Analyst Upgrade

28 May 2026, 16:56 by Amy Steele · The Cerbat Gem

Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report)’s stock price shot up 1.2% during mid-day trading on Thursday after Barclays raised their price target on the stock from $750.00 to $1,000.00. Barclays currently has an overweight rating on the stock. Seagate Technology traded as high as $905.39 and last traded at $880.72. 2,828,395 shares were traded during trading, a decline of 32% from the average session volume of 4,171,560 shares. The stock had previously closed at $870.66.

A number of other brokerages have also issued reports on STX. Evercore lifted their target price on shares of Seagate Technology from $750.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. TD Cowen lifted their target price on shares of Seagate Technology from $500.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $700.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wedbush lifted their target price on shares of Seagate Technology from $700.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Finally, Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $746.63.

Get Our Latest Research Report on STX

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the transaction, the executive vice president owned 3,691 shares in the company, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Tilenius sold 1,580 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $766.61, for a total transaction of $1,211,243.80. Following the transaction, the director owned 10,664 shares in the company, valued at $8,175,129.04. This represents a 12.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 142,437 shares of company stock worth $86,093,575 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Key Headlines Impacting Seagate Technology

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

Positive Sentiment: Seagate closed privately negotiated exchanges for $185.908 million of exchangeable notes, settling the deal with cash and equity consideration. The move may improve capital structure clarity and reduce refinancing overhang. Seagate Announces Closing of Exchanges with Holders of $185.908 Million Principal Amount of Exchangeable Notes
Positive Sentiment: Barclays raised its price target on Seagate to $1,000 from $750 and kept an overweight rating, reinforcing the view that the stock still has room to run. Barclays Adjusts PT on Seagate Technology Holdings to $1,000 From $750, Maintains Overweight Rating
Positive Sentiment: BofA also reportedly raised its price target after Seagate’s CEO pointed to an AI storage “supercycle,” adding to investor enthusiasm around hyperscale and data-center demand. BofA raises Seagate stock price target after CEO signals AI storage supercycle
Positive Sentiment: Recent bullish research argues Seagate’s HAMR rollout, stronger hyperscale demand, and record margins are improving its earnings outlook, which supports the stock’s recent move higher. Seagate: Micron And SK Hynix Gave The Greenlight To Buy More
Neutral Sentiment: Follow-up commentary noted Seagate has already gained substantially since its last earnings report, suggesting investors are now focused on whether the company can sustain that momentum with continued AI-related demand and execution. Why Is Seagate (STX) Up 35.3% Since Last Earnings Report?
Neutral Sentiment: Seagate’s earnings-transcript coverage and stock-comparison pieces keep highlighting the same theme: strong AI storage demand, cash flow, and HAMR innovation versus slower peers. Seagate Technology Holdings plc (STX) Presents at TD Cowen’s 54th Annual Technology, Media & Telecom Conference Transcript

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC raised its holdings in Seagate Technology by 124.4% in the 4th 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 period. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the period. Armstrong Advisory Group Inc. bought a new position in Seagate Technology in the 4th quarter worth $28,000. Avion Wealth raised its holdings in Seagate Technology by 343.5% in the 4th 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 period. Finally, Concord Wealth Partners bought a new position in Seagate Technology in the 4th quarter worth $28,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.2%

The stock has a market cap of $197.48 billion, a P/E ratio of 83.56 and a beta of 1.98. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm’s fifty day moving average is $593.37 and its 200 day moving average is $424.63.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.59. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the company earned $1.90 EPS. The firm’s revenue for the quarter was up 44.1% compared to the same quarter last year. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology’s payout ratio is currently 28.08%.

About Seagate Technology

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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.