Seagate Technology (NASDAQ:STX) Downgraded by Fox Advisors to “Equal Weight”

Seagate Technology (NASDAQ:STX) was downgraded by investment analysts at Fox Advisors from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat.com reports.

STX has been the subject of several other research reports. Susquehanna raised their price objective on shares of Seagate Technology from $485.00 to $615.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their target price on Seagate Technology from $767.00 to $1,035.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Wall Street Zen raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays upped their price target on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Finally, Evercore increased their target price on Seagate Technology from $750.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $831.79.

Seagate Technology Price Performance

Seagate Technology stock opened at $1,070.23 on Monday. The firm has a market cap of $239.98 billion, a PE ratio of 101.54 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. Seagate Technology has a one year low of $130.32 and a one year high of $1,145.00. The stock’s fifty day moving average price is $769.13 and its two-hundred day moving average price is $504.87.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’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, research analysts expect that Seagate Technology will post 14.14 EPS for the current fiscal year.

Insider Transactions at Seagate Technology

In other news, CFO Gianluca Romano sold 22,488 shares of Seagate Technology stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total value of $17,410,659.36. Following the sale, the chief financial officer directly owned 42,847 shares in the company, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Christopher Morris sold 5,626 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares in the company, valued at approximately $8,826,474.98. The trade was a 32.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 141,069 shares of company stock valued at $107,161,712. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC grew its stake in shares of Seagate Technology by 124.4% during the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 51 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after buying an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in Seagate Technology during the fourth quarter valued at about $28,000. Avion Wealth lifted its position in shares of Seagate Technology by 343.5% in the fourth quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Concord Wealth Partners purchased a new position in Seagate Technology in the 4th quarter worth approximately $28,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Company Profile

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.