Seagate (STX) jumps as investors react to exchangeable-notes redemption and fresh bullish analyst targets

Seagate Technology Holdings (STX) is up 7.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to Seagate’s newly announced redemption of its 3.50% exchangeable senior notes due 2028, which investors may be reading as balance-sheet optimization and a cleanup of potential overhang. The rally also looks amplified by recent high-profile analyst price-target hikes that have kept momentum strong after Seagate’s recent results.

Details:

Seagate said its subsidiary issued a notice calling for redemption of all outstanding 3.50% Exchangeable Senior Notes due 2028, with holders able to exchange their notes into ordinary shares up to a stated deadline ahead of redemption.

The company disclosed the current exchange rate for the notes and noted an upcoming adjustment tied to its previously announced quarterly dividend.

Multiple analysts have raised price targets in recent weeks, including a notably large increase from Citigroup, which may have helped drive incremental buying interest into the stock.

This could also be a momentum-driven move, as Seagate has been trading near fresh highs and has benefited from improving sentiment around data-storage demand tied to AI infrastructure buildouts.

Sources:

Business Wire, Investing.com, StockAnalysis.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$STX Insider Trading Activity

$STX insiders have traded $STX stock on the open market 197 times in the past 6 months. Of those trades, 0 have been purchases and 197 have been sales.

Here’s a breakdown of recent trading of $STX stock by insiders over the last 6 months:

WILLIAM D MOSLEY (CEO) has made 0 purchases and 139 sales selling 167,438 shares for an estimated $92,638,804.
BAN SENG TEH (EVP & Chief Commercial Officer) has made 0 purchases and 27 sales selling 37,167 shares for an estimated $22,042,599.
JOHN CHRISTOPHER MORRIS (EVP & CTO) has made 0 purchases and 19 sales selling 6,664 shares for an estimated $4,799,173.
KIAN FATT CHONG (EVP Global Operations) sold 5,846 shares for an estimated $2,434,740
STEPHANIE TILENIUS has made 0 purchases and 2 sales selling 1,580 shares for an estimated $1,211,249.
GIANLUCA ROMANO (EVP & CFO) has made 0 purchases and 2 sales selling 1,350 shares for an estimated $1,109,780.
YOLANDA LEE CONYERS has made 0 purchases and 2 sales selling 1,500 shares for an estimated $959,190.
PRAT BHATT sold 1,000 shares for an estimated $929,880
SHANKAR ARUMUGAVELU sold 1,000 shares for an estimated $927,680
JAMES CI LEE (EVP & CLO) has made 0 purchases and 2 sales selling 1,370 shares for an estimated $751,371.
JAY L GELDMACHER sold 925 shares for an estimated $414,423

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$STX Hedge Fund Activity

We have seen 772 institutional investors add shares of $STX stock to their portfolio, and 632 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO removed 6,934,821 shares (-49.8%) from their portfolio in Q4 2025, for an estimated $1,909,780,355
FMR LLC added 4,417,259 shares (+117.5%) to their portfolio in Q1 2026, for an estimated $1,730,505,385
SANDERS CAPITAL, LLC removed 4,283,691 shares (-24.9%) from their portfolio in Q1 2026, for an estimated $1,678,178,786
BLACKROCK, INC. removed 1,842,843 shares (-11.4%) from their portfolio in Q1 2026, for an estimated $721,952,173
NOMURA ASSET MANAGEMENT INTERNATIONAL INC. added 1,799,482 shares (+36716.6%) to their portfolio in Q1 2026, for an estimated $704,965,068
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN removed 1,796,170 shares (-33.2%) from their portfolio in Q1 2026, for an estimated $703,667,559
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 1,759,568 shares (-55.1%) from their portfolio in Q1 2026, for an estimated $689,328,359

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$STX Congressional Stock Trading

Members of Congress have traded $STX stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $STX stock by members of Congress over the last 6 months:

REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 12/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$STX Analyst Ratings

Wall Street analysts have issued reports on $STX in the last several months. We have seen 6 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 04/30/2026
TD Cowen issued a "Buy" rating on 04/29/2026
Rosenblatt issued a "Buy" rating on 01/28/2026
Morgan Stanley issued a "Overweight" rating on 01/22/2026
B of A Securities issued a "Buy" rating on 01/20/2026
Citigroup issued a "Buy" rating on 01/20/2026

To track analyst ratings and price targets for $STX, check out Quiver Quantitative's $STX forecast page.

$STX Price Targets

Multiple analysts have issued price targets for $STX recently. We have seen 17 analysts offer price targets for $STX in the last 6 months, with a median target of $850.0.

Here are some recent targets:

Vijay Rakesh from Mizuho set a target price of $1090.0 on 06/08/2026
Asiya Merchant from Citigroup set a target price of $1150.0 on 06/02/2026
Aaron Rakers from Wells Fargo set a target price of $900.0 on 06/01/2026
Tom O'Malley from Barclays set a target price of $1000.0 on 05/27/2026
Wamsi Mohan from B of A Securities set a target price of $900.0 on 05/26/2026
Amit Daryanani from Evercore ISI Group set a target price of $1000.0 on 05/12/2026
Mehdi Hosseini from Susquehanna set a target price of $615.0 on 04/29/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.