Morgan Stanley Raises STX Price Target to $1,200

Morgan Stanley reaffirmed its Overweight rating on Seagate Technology Holdings plc on October 20, 2026, raising its price target from $1,187.00 to $1,200.00. The research note outlines a bullish stance on the hardware maker even as shares trade well below the newly adjusted target level.

STX Seagate Technology Holdings plc

$675.13 ▲ +135.56% year to date

1M 3M YTD

Daily close · Oct 20, 2026

Morgan Stanley's Call on Seagate Technology Holdings plc

In its October 20, 2026 update, Morgan Stanley kept its Overweight rating on the stock and nudged its target up to $1,200.00. Earlier on July 29, 2026, the firm had maintained an Overweight rating while setting a $1,187.00 target. Other major houses also cover the firm, including Wells Fargo, which recently maintained an Overweight rating with a target of $865.00 on October 16, 2026. Barclays and Argus Research also maintained positive stances over the summer.

Other Institutional Activity in Seagate Technology Holdings plc

WCM Investment Management, LLC grew its holdings by 973,679 shares in its report ended June 30, 2026, ending with 5,320,463 shares worth about $3.59 billion.

Seagate Technology Holdings plc Stock Up 2.2%

Seagate shares recently traded around $675.26 on October 20, 2026, closing that day at $675.13. The stock sits below its 50-day moving average of $838.61 and near its 200-day moving average of $676.38. The current price is down about 41.0% from its 52-week high of $1,145.00 while staying well above its 52-week low of $209.00.

Recent Earnings

Seagate reports trailing twelve-month revenue of $12.19 billion and basic earnings per share of $13.90. The hardware provider holds a P/E ratio of 48.57, with a forward P/E of 11.85. The company's next earnings report is scheduled for October 27, 2026.

Dividend

Seagate pays an annual dividend rate of $2.96 per share, giving it a dividend yield of 0.45%. The payout ratio stands at 21.1%.

Insider Buying and Selling at Seagate Technology Holdings plc

Company insiders executed several sales during September 2026. Chief Executive Officer William D. Mosley sold 97,889 shares on September 15, 2026, at an average price of $772.14 for a total value of $75.58 million. Chief Financial Officer Gianluca Romano sold 49,983 shares on the same day at $772.16 per share, totaling $38.59 million. Chief Technology Officer John Christopher Morris sold 15,465 shares on September 15 at $772.15, followed by another sale of 9,354 shares on September 21, 2026.

Analysts Set New Price Targets

Wall Street firms maintain active coverage on the stock. Consensus ratings point to a strong buy with a mean price target of $1,114.50 across 24 analyst opinions, leaving the recent trading price well below the average target.

About Seagate Technology Holdings plc

Based in Singapore, Seagate builds data storage solutions for enterprise customers and cloud providers worldwide. Its hardware lineup includes internal and external hard drives, solid-state drives, enterprise storage systems, and network-attached storage gear.

Bottom Line

Investors will look toward Seagate's upcoming earnings report on October 27, 2026, for fresh details on storage demand. Wall Street's higher price targets show continued optimism from major firms despite recent pullbacks in the share price.