Seagate Technology (NASDAQ:STX) Cut to Hold at Zacks Research

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

Several other research firms have also commented on STX. Benchmark boosted their price objective on shares of Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Rosenblatt Securities raised their target price on shares of Seagate Technology from $370.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Wedbush upped their price target on Seagate Technology from $290.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. China Renaissance increased their price objective on Seagate Technology from $325.00 to $452.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Bank of America raised their price objective on Seagate Technology from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $461.00.

Seagate Technology Price Performance

Shares of STX stock opened at $391.76 on Monday. The stock’s 50-day moving average is $399.43 and its 200 day moving average is $310.76. Seagate Technology has a 1-year low of $63.19 and a 1-year high of $459.84. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.12 and a quick ratio of 0.72. The company has a market cap of $85.43 billion, a P/E ratio of 44.32, a PEG ratio of 0.81 and a beta of 1.61.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, January 27th. The data storage provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.34. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.73 billion. Seagate Technology had a net margin of 19.59% and a negative return on equity of 936.38%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.03 earnings per share. Seagate Technology has set its Q3 2026 guidance at 3.200-3.600 EPS. Research analysts predict that Seagate Technology will post 6.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP James Ci Lee sold 673 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $348.85, for a total value of $234,776.05. Following the transaction, the executive vice president directly owned 257 shares of the company’s stock, valued at $89,654.45. This represents a 72.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kian Fatt Chong sold 5,846 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $416.48, for a total value of $2,434,742.08. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 113,635 shares of company stock valued at $44,430,443. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Seagate Technology

Several large investors have recently added to or reduced their stakes in STX. Hsbc Holdings PLC raised its stake in shares of Seagate Technology by 97.9% in the fourth quarter. Hsbc Holdings PLC now owns 172,331 shares of the data storage provider’s stock worth $47,579,000 after purchasing an additional 85,246 shares during the last quarter. Stance Capital LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth about $2,288,000. World Investment Advisors boosted its position in Seagate Technology by 1.9% in the fourth quarter. World Investment Advisors now owns 11,832 shares of the data storage provider’s stock valued at $3,258,000 after buying an additional 226 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Seagate Technology by 18.8% in the 4th quarter. Corient Private Wealth LLC now owns 35,378 shares of the data storage provider’s stock worth $9,745,000 after buying an additional 5,590 shares during the period. Finally, Pure Financial Advisors LLC increased its holdings in Seagate Technology by 8.6% in the 4th quarter. Pure Financial Advisors LLC now owns 1,201 shares of the data storage provider’s stock worth $331,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Key Seagate Technology News

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

• Positive Sentiment: Sanford C. Bernstein raised its price target to $620 (from $500) and kept an Outperform rating, arguing the recent pullback is a buying opportunity and forecasting strong upside for Seagate on AI/cloud demand. Seagate Technology Gets Bold $620 Target From Bernstein — Buy the Dip?
• Positive Sentiment: J.P. Morgan initiated coverage with an Overweight rating and $525 target, citing durable AI‑driven data‑center demand, pricing strength and margin expansion as reasons Seagate can extend gains despite the large run‑up. JPMorgan starts Seagate at Overweight, sees more upside despite 350% rally
• Positive Sentiment: Several outlets and analysts are framing recent pullbacks (partly mechanical/algo driven) as temporary, calling the dip a buying opportunity given Seagate’s recent beat on EPS and revenue, and company guidance pointing to continued strength. Seagate Technology: Why The 20% Plunge Is An Opportunity
• Neutral Sentiment: Analysis on HDD competition and technology — including coverage of Western Digital’s push into next‑gen HAMR and ePMR — underscores that both Seagate and peers are racing to meet surging cloud/AI capacity needs; this is strategic context rather than an immediate hit to Seagate’s outlook. Will Next-Gen HAMR & ePMR Drives Give Western Digital a Storage Edge?
• Neutral Sentiment: Coverage noting potential AI‑related headwinds to HDDs (but not driven by Alphabet’s algorithm changes) flags longer‑term demand mix questions for some workloads; this is being parsed but hasn’t overturned the bullish data‑center story. Seagate’s HDDs Face AI Headwinds, But Not From Alphabet’s New Algorithms
• Negative Sentiment: Sectorwide selling pressure—partly attributed to an apparent Nvidia design/roadmap shift and algorithmic (TurboQuant) trading—triggered a pullback in memory and storage stocks, briefly weighing on Seagate. Nvidia Design Shift Triggers Selloff in Memory Stocks
• Negative Sentiment: Intraday headlines noted sharp declines (one report cited a ~7% drop in a session) before analyst notes arrived, highlighting how momentum/algorithms can amplify downside even when fundamentals remain solid. Seagate stock is crashing 7% today: why JP Morgan is bullish

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.