Zacks Research Downgrades Seagate Technology (NASDAQ:STX) to Hold

Seagate Technology (NASDAQ:STX) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Rosenblatt Securities upped their price target on Seagate Technology from $270.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday. Fox Advisors boosted their price objective on Seagate Technology from $245.00 to $270.00 in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Seagate Technology in a report on Monday, December 29th. Benchmark upped their price target 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, China Renaissance lifted their price objective on Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and a consensus price target of $335.61.

Seagate Technology Price Performance

NASDAQ STX opened at $325.99 on Monday. The company has a market capitalization of $69.62 billion, a P/E ratio of 41.85, a PEG ratio of 1.28 and a beta of 1.60. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $336.17. The business has a 50 day moving average price of $284.51 and a 200 day moving average price of $226.36.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the sale, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 1,412 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $299.31, for a total transaction of $422,625.72. Following the completion of the transaction, the executive vice president owned 13,693 shares in the company, valued at $4,098,451.83. This trade represents a 9.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,557 shares of company stock valued at $36,847,793 over the last three months. 0.79% of the stock is owned by insiders.

Institutional Trading of Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in shares of Seagate Technology by 168.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Seagate Technology in the second quarter worth $262,000. Wealth Enhancement Advisory Services LLC boosted its stake in Seagate Technology by 41.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 24,175 shares of the data storage provider’s stock valued at $3,613,000 after purchasing an additional 7,053 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Seagate Technology by 130.2% in the 2nd quarter. UMB Bank n.a. now owns 1,554 shares of the data storage provider’s stock worth $224,000 after purchasing an additional 879 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Seagate Technology by 12.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,498 shares of the data storage provider’s stock valued at $938,000 after buying an additional 707 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology News Roundup

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

• Positive Sentiment: Citigroup raised its price target from $320 to $385 and kept a “buy” rating, implying roughly +18% upside and signaling stronger revenue/margin expectations. Citigroup raises target
• Positive Sentiment: Bank of America reiterated a Buy, lifted its target to $400 (from $320) and flagged stronger visibility into Q2 revenue and margin growth driven by data-center demand — a bullish operational outlook. Bank of America note Proactive article
• Positive Sentiment: Rosenblatt Securities boosted its target to $370 (from $270) and maintained a “buy,” signaling continued confidence in Seagate’s market positioning and demand trends. Rosenblatt raises target
• Neutral Sentiment: UBS raised its price target to $335 (from $230) but kept a “neutral” rating — the target lift is supportive, but the neutral stance tempers upside expectations (only a few percent above the current price). UBS target update
• Negative Sentiment: Zacks Research downgraded Seagate from “strong-buy” to “hold,” which could apply short-term selling pressure from investors focused on analyst ratings momentum. Zacks downgrade TickerReport summary

About Seagate Technology

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.