Mizuho Raises Seagate Technology Price Target to $475 Amid Positive Outlook

Seagate Technology (NASDAQ: STX) has seen its price target raised from $440.00 to $475.00 by Mizuho, reflecting a bullish outlook for the data storage provider. This adjustment, detailed in a research report released on Tuesday, underscores Mizuho’s “outperform” rating on the stock. The news follows a series of favorable assessments from various analysts, indicating a growing confidence in Seagate’s future performance.

On December 29, Weiss Ratings reaffirmed a “buy (b)” rating for Seagate Technology. Shortly thereafter, on January 29, Robert W. Baird increased its price target from $270.00 to $505.00, also assigning an “outperform” rating. Rosenblatt Securities followed suit on January 28, raising their target from $370.00 to $500.00 with a “buy” rating. Similarly, Wedbush adjusted its target from $290.00 to $380.00 and maintained an “outperform” rating on January 23. Benchmark capped this series of upgrades by increasing its price target from $255.00 to $325.00 and issuing a “buy” rating on December 16.

The current consensus rating for Seagate Technology is “Moderate Buy,” with an average price target set at $447.35, according to data from MarketBeat.com. Analysts have collectively rated the stock with one “Strong Buy,” eighteen “Buy,” and five “Hold” ratings.

Quarterly Earnings and Dividend Announcement

Seagate Technology’s latest quarterly earnings report, released on January 27, revealed an earnings per share (EPS) of $3.11, surpassing analysts’ expectations of $2.77 by $0.34. The company posted a net margin of 19.59% and a striking negative return on equity of 936.38%. Revenue for the quarter reached $2.83 billion, exceeding estimates of $2.73 billion, marking a 21.5% increase compared to the same quarter last year.

Looking ahead, Seagate Technology has set its guidance for Q3 2026 at an EPS range of 3.200 to 3.600. Sell-side analysts forecast an average EPS of 6.83 for the current fiscal year.

In addition to its earnings report, Seagate announced a quarterly dividend of $0.74 per share, set to be paid on April 8. Investors of record as of March 25 will receive this dividend, reflecting an annualized payment of $2.96 and a yield of 0.7%. The company’s dividend payout ratio (DPR) currently stands at 33.48%.

Insider Trading and Institutional Activity

In related news, CEO William D. Mosley sold 20,000 shares of Seagate stock on February 2. The shares were sold at an average price of $429.27, totaling approximately $8.59 million. Following this transaction, Mosley retains 410,056 shares, valued at around $176 million. This sale represents a 4.65% reduction in his ownership stake.

Director Yolanda Lee Conyers also sold 750 shares on December 2, at an average price of $272.91, amounting to $204,682.50. After this transaction, she holds 5,601 shares valued at approximately $1.53 million, indicating an 11.81% decrease in her ownership.

Over the past three months, insiders have sold a total of 83,955 shares of the company, worth nearly $29.93 million. Currently, company insiders own about 0.79% of Seagate’s stock.

Institutional investors have actively adjusted their holdings in Seagate. The National Pension Service increased its stake by 28.0% during the third quarter, now owning 250,121 shares valued at $59.04 million after acquiring an additional 54,722 shares. Vision Financial Markets LLC initiated a new position in the second quarter, valued at approximately $173,000. Tokio Marine Asset Management also bought into Seagate during the third quarter, with a stake valued around $1.86 million.

Overall, institutional and hedge fund ownership stands at approximately 92.87%, reflecting strong institutional interest in Seagate Technology.

Seagate Technology, headquartered in the United States, designs, manufactures, and sells a wide range of data storage products, including traditional hard disk drives (HDDs) and solid-state drives (SSDs). Its products serve various markets, from enterprise and cloud solutions to consumer devices, making it a critical player in the global data storage industry.