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

Seagate Technology (NASDAQ:STX) was downgraded by equities 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. BNP Paribas Exane lifted their price target on Seagate Technology from $530.00 to $860.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their target price on shares of Seagate Technology from $767.00 to $1,035.00 and gave the stock an “overweight” rating in a research report on Monday, June 15th. Mizuho boosted their price target on shares of Seagate Technology from $875.00 to $1,090.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Argus upped their price target on shares of Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Seagate Technology from $775.00 to $920.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Twenty-one research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $874.52.

Seagate Technology Stock Down 0.4%

STX stock opened at $965.00 on Monday. The firm has a market cap of $216.38 billion, a PE ratio of 91.56 and a beta of 2.04. Seagate Technology has a 12 month low of $138.30 and a 12 month high of $1,145.00. 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 firm has a 50 day simple moving average of $835.80 and a 200 day simple moving average of $540.40.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $0.59. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The firm’s revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. Equities research analysts forecast that Seagate Technology will post 14.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, Director Shankar Arumugavelu sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $927.68, for a total value of $927,680.00. Following the completion of the sale, the director directly owned 6,626 shares of the company’s stock, valued at $6,146,807.68. The trade was a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 989 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $870,507.91. Following the completion of the sale, the executive vice president owned 4,290 shares of the company’s stock, valued at $3,776,015.10. This represents a 18.73% 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. Insiders sold 121,069 shares of company stock worth $98,747,112 over the last quarter. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STX. Bridgewater Advisors Inc. boosted its holdings in shares of Seagate Technology by 0.9% during the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after buying an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Seagate Technology by 23.1% in 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 during the period. Beaumont Financial Advisors LLC lifted its position in Seagate Technology by 2.1% during the 1st quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider’s stock worth $321,000 after acquiring an additional 17 shares during the last quarter. Cornerstone Wealth Group LLC lifted its position in Seagate Technology by 0.5% during the 1st quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider’s stock worth $1,388,000 after acquiring an additional 19 shares during the last quarter. Finally, WealthCollab LLC boosted its holdings in Seagate Technology by 27.4% during the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

More Seagate Technology News

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.