Seagate Technology (NASDAQ:STX) Downgraded by Zacks Research to Hold

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

STX has been the topic of a number of other research reports. Bank of America boosted their price target on shares of Seagate Technology from $900.00 to $1,000.00 in a report on Monday, June 8th. Susquehanna increased their target price on Seagate Technology from $485.00 to $615.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Argus increased their price objective on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $700.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Twenty-one equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $874.52.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $965.00 on Monday. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market capitalization of $216.38 billion, a price-to-earnings ratio of 91.56 and a beta of 2.04. The firm’s 50 day simple moving average is $835.80 and its 200-day simple moving average is $540.40. Seagate Technology has a 12 month low of $138.30 and a 12 month high of $1,145.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly 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 net margin of 21.60% and a return on equity of 1,005.65%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue 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. Analysts expect that Seagate Technology will post 14.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Gianluca Romano sold 22,488 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $774.22, for a total transaction of $17,410,659.36. Following the completion of the sale, the chief financial officer owned 42,847 shares in the company, valued at $33,173,004.34. The trade was a 34.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $751.29, for a total transaction of $22,538,700.00. Following the completion of the transaction, the chief executive officer owned 339,591 shares in the company, valued at $255,131,322.39. This represents a 8.12% 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 ninety days, insiders sold 121,069 shares of company stock valued at $98,747,112. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC raised its stake in Seagate Technology by 23.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after acquiring an additional 15 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Seagate Technology by 124.4% in the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. WealthCollab LLC grew its holdings in shares of Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 20 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Seagate Technology during the first quarter worth about $39,000. Finally, Armstrong Advisory Group Inc. purchased a new stake in shares of Seagate Technology in the 4th quarter valued at about $28,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Seagate Technology

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Seagate Technology to $1,300 from $1,000 and reiterated an overweight rating, signaling confidence that the company still has meaningful upside. Benzinga report on Cantor Fitzgerald target increase
• Positive Sentiment: Melius Research initiated coverage with a buy rating and a $1,600 price target, reflecting a very constructive view on Seagate’s earnings power and demand outlook. Benzinga report on Melius initiation
• Positive Sentiment: Several recent articles highlight Seagate as a top AI infrastructure and storage beneficiary, citing strong demand for high-capacity drives, HAMR product wins, and repeated earnings beats as key growth drivers. Zacks AI infrastructure article
• Neutral Sentiment: Some recent coverage remains positive but warns the stock has already rerated dramatically, with one Seeking Alpha piece downgrading the rating from Strong Buy to Buy because a lot of the upside may already be reflected in the current price. Seeking Alpha downgrade article
• Neutral Sentiment: Another article framed Seagate as “too hot to handle,” emphasizing that AI-driven growth is strong but cyclical risks remain, which may temper expectations after the stock’s huge run. Seeking Alpha cyclical risks article
• Negative Sentiment: One Zacks note compared Seagate with Micron and suggested Micron may offer better AI-storage upside, which could shift some investor preference away from STX. Zacks comparison article

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.