Seagate Technology (NASDAQ:STX) Raised to Strong-Buy at Wall Street Zen

Seagate Technology (NASDAQ:STX) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

STX has been the subject of a number of other reports. Melius Research initiated coverage on shares of Seagate Technology in a research report on Monday, June 29th. They set a “buy” rating and a $1,600.00 price target for the company. Loop Capital raised their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Sanford C. Bernstein restated an “outperform” rating and set a $1,350.00 price objective on shares of Seagate Technology in a research note on Wednesday. Argus upped their target price on Seagate Technology from $750.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley increased their target price on Seagate Technology from $1,035.00 to $1,187.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $986.00.

Seagate Technology Stock Performance

NASDAQ STX opened at $856.13 on Friday. The firm has a market capitalization of $191.97 billion, a price-to-earnings ratio of 61.68 and a beta of 2.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.17 and a current ratio of 1.67. Seagate Technology has a one year low of $144.75 and a one year high of $1,145.00. The company’s 50 day moving average price is $896.91 and its 200 day moving average price is $629.98.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.61. Seagate Technology had a net margin of 26.11% and a return on equity of 369.98%. The company had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm earned $2.59 earnings per share. Seagate Technology’s revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. On average, sell-side analysts predict that Seagate Technology will post 33.08 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 22,488 shares of the firm’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 value of $17,410,659.36. Following the sale, the chief financial officer owned 42,847 shares of the company’s stock, valued at approximately $33,173,004.34. This trade represents a 34.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president owned 3,691 shares in the company, valued at $3,016,580.48. The trade was a 68.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 144,746 shares of company stock valued at $121,521,088 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Seagate Technology by 1.0% during the fourth quarter. State Street Corp now owns 9,370,805 shares of the data storage provider’s stock worth $2,587,535,000 after buying an additional 94,527 shares during the period. Morgan Stanley increased its position in Seagate Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 5,317,516 shares of the data storage provider’s stock valued at $1,464,391,000 after acquiring an additional 258,151 shares during the period. Geode Capital Management LLC raised its stake in Seagate Technology by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 4,896,815 shares of the data storage provider’s stock valued at $1,343,683,000 after acquiring an additional 234,436 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Seagate Technology by 8.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,193,063 shares of the data storage provider’s stock valued at $879,338,000 after acquiring an additional 243,551 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Seagate Technology by 1,510.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,008,516 shares of the data storage provider’s stock worth $553,125,000 after acquiring an additional 1,883,769 shares during the period. Institutional investors own 92.87% of the company’s stock.

Key Stories Impacting Seagate Technology

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

• Positive Sentiment: Strong earnings and guidance: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus estimate, while revenue reached $3.63 billion against expectations of $3.50 billion. Revenue increased 48.5% year over year, and fiscal Q1 2027 EPS guidance of $7.10-$7.50 exceeded the bullish outlook. Seagate Technology Shares Up After Earnings Beat
• Positive Sentiment: AI storage demand is the central growth catalyst: Cloud providers and data centers are reserving high-capacity HDDs for AI training data, model outputs and other persistent data. Allocated nearline supply through 2028, expanding Mozaic drives and HAMR technology—supporting capacities of up to 44TB—provide Seagate with unusually strong demand visibility. Seagate HAMR and AI Storage Growth
• Positive Sentiment: Analyst sentiment has strengthened: Zacks upgraded STX to “strong buy,” while Argus and Barclays raised price targets to $900 and $1,250, respectively. Citi, JPMorgan, Wedbush, TD Cowen, Susquehanna and Wells Fargo also issued bullish outlooks, contributing to a consensus “moderate buy” rating. Analysts Raise Seagate Price Targets
• Neutral Sentiment: Broader AI infrastructure enthusiasm is supporting storage stocks as major technology companies are expected to spend more than $750 billion on AI infrastructure in 2026. This improves the industry backdrop but also means STX’s valuation and performance remain sensitive to AI spending expectations.
• Negative Sentiment: Valuation risk is rising: After a substantial 2026 rally, Seagate trades at a premium earnings multiple. Analysts note that strong execution is already reflected in the stock, leaving less room for delays in HAMR adoption, weaker pricing or any slowdown in data-center demand. Seagate Valuation After Its Rally

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.